Lemon Tree Hotels soars on signing two new properties in Odisha, Himachal Pradesh
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Lemon Tree Hotels is currently trading at Rs. 107.60, up by 2.37 points or 2.25% from its previous closing of Rs. 105.23 on the BSE.
The scrip opened at Rs. 106.98 and has touched a high and low of Rs. 108.50 and Rs. 106.98 respectively. So far 218084 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 108.50 on 22-Aug-2023 and a 52 week low of Rs. 66.55 on 29-Aug-2022.
Last one week high and low of the scrip stood at Rs. 108.50 and Rs. 93.73 respectively. The current market cap of the company is Rs. 8336.81 crore.
The promoters holding in the company stood at 23.60%, while Institutions and Non-Institutions held 35.86% and 40.54% respectively.
Lemon Tree Hotels has signed two new properties -- Lemon Tree Hotel, Bhubaneswar, Odisha and Lemon Tree Mountain Resort, Kasauli, Himachal Pradesh. The former is expected to be operational by Q4 of FY2025 and shall be managed by Carnation Hotels, a wholly-owned subsidiary and the management arm of Lemon Tree Hotels. The latter is expected to be operational by Q3 of FY 2026 and shall be manchised by Lemon Tree Hotels.
Lemon Tree Hotel, Bhubaneswar, Odisha will feature 60 well-appointed rooms, a restaurant, meeting rooms, a banquet hall, a swimming pool, a fitness center, and other public areas. Biju Patnaik International Airport, Bhubaneswar is about 12 kms from the property while the Bhubaneswar Railway Station is just 10 kms away. The hotel is connected by both public and private transport from all major cities in India.
Lemon Tree Mountain Resort, Kasauli, Himachal Pradesh will feature 50 well- appointed rooms & cottages, banquet halls, recreation room, two restaurants, a swimming pool, a spa, fitness center, a library and other public areas. Shaheed Bhagat Singh International Airport, Chandigarh is about 56 kms from the property while the Kalka Railway Station is just 10 kms away. The hotel is connected by both public and private transport from all major cities in India.
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.
