Lemon Tree Hotels inches up on signing new property in Udaipur
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Lemon Tree Hotels is currently trading at Rs. 141.65, up by 0.40 points or 0.28% from its previous closing of Rs. 141.25 on the BSE.
The scrip opened at Rs. 142.05 and has touched a high and low of Rs. 142.60 and Rs. 141.40 respectively. So far 17700 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 147.20 on 23-Feb-2024 and a 52 week low of Rs. 72.85 on 27-Mar-2023.
Last one week high and low of the scrip stood at Rs. 144.25 and Rs. 137.65 respectively. The current market cap of the company is Rs. 11190.48 crore.
The promoters holding in the company stood at 23.21%, while Institutions and Non-Institutions held 37.81% and 38.98% respectively.
Lemon Tree Hotels has signed - Keys Lite by Lemon Tree Hotels, Urban Suites, Udaipur. The property, which will be franchised by Lemon Tree Hotels, is expected to open in FY25. Udaipur is often referred to as the Venice of the East on account of the seven turquoise lakes that dot the city. Bound by the verdant Aravalli hills, Udaipur holds a variety of attractions for its visitors including history, culture, scenic locations, opulent Rajput-era palaces and vibrant markets.
Keys Lite by Lemon Tree Hotels, Urban Suites, Udaipur will feature 68 well-appointed rooms, a restaurant and other public areas. The Maharana Pratap Airport is about 25 kms away, while the Udaipur City Railway Station is just about 10 kms away from the hotel. The hotel is also well connected by roadways for both public and private transport.
This will be the third property of Lemon Tree Hotels in the city besides one operational property - the upper upscale, Aurika, Udaipur and an upcoming property. Not just Udaipur, the brand is expanding its portfolio in Rajasthan and this opening will be in addition to seven existing and five upcoming properties in the state which has several tourist attractions that showcase its historical and religious significance.
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.
