Lemon Tree Hotels soars on signing license agreement for 40 room hotel at Chirang
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Lemon Tree Hotels is currently trading at Rs. 61.25, up by 1.45 points or 2.42% from its previous closing of Rs. 59.80 on the BSE.
The scrip opened at Rs. 61.55 and has touched a high and low of Rs. 61.55 and Rs. 60.30 respectively. So far 87338 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 71.40 on 13-Apr-2022 and a 52 week low of Rs. 36.10 on 11-Aug-2021.
Last one week high and low of the scrip stood at Rs. 64.35 and Rs. 52.20 respectively. The current market cap of the company is Rs. 4737.63 crore.
The promoters holding in the company stood at 23.95%, while Institutions and Non-Institutions held 40.88% and 35.17% respectively.
Lemon Tree Hotels has signed a License Agreement for a 40 room hotel at Chirang, Assam under the Company's brand 'Keys Select, by Lemon Tree Hotels'. The hotel is expected to be operational by June, 2026. Carnation Hotels, a subsidiary and the hotel management arm of the Company will be operating this hotel.
Chirang, a new district in Assam, is home to Manas National Park, a UNESCO Natural World Heritage Site. Located in the Himalayan foothills, it is known for its rare and endangered endemic wildlife, such as the Assam roofed turtle, hispid hare, golden langur and pygmy hog. Borjhar Airport in Guwahati is the closest air connectivity link and the district has several railway junctions in the vicinity.
Lemon Tree Hotels is India’s largest hotel chain in the mid-priced hotel sector, and the third largest overall, on the basis of controlling interest in owned and leased rooms.
