Lemon Tree Hotels moves higher on signing new property in Gujarat
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Lemon Tree Hotels is currently trading at Rs. 118.10, up by 4.20 points or 3.69% from its previous closing of Rs. 113.90 on the BSE.
The scrip opened at Rs. 114.05 and has touched a high and low of Rs. 118.15 and Rs. 113.65 respectively. So far 330719 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 126.70 on 15-Sep-2023 and a 52 week low of Rs. 70.25 on 23-Dec-2022.
Last one week high and low of the scrip stood at Rs. 118.90 and Rs. 111.55 respectively. The current market cap of the company is Rs. 9320.78 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 new property ‘Lemon Tree Resort’ in Somnath, Gujarat. The property which shall be franchised by Lemon Tree Hotels, is expected to open in FY 2025.
Lemon Tree Resort, Somnath will feature 52 well-appointed rooms, a restaurant, a board room, a fitness center, a recreation room, a swimming pool, an outdoor events venue and other public areas. The Diu Airport is about 80 kms from the property while the Veraval Junction Railway Station is about 2 kms away. The hotel is also well connected by roadways for both public and private transport.
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.
