Lemon Tree Hotels rises on signing new property in Maharashtra
Lemon Tree Hotels is currently trading at Rs. 152.10, up by 2.35 points or 1.57% from its previous closing of Rs. 149.75 on the BSE.
The scrip opened at Rs. 151.35 and has touched a high and low of Rs. 153.10 and Rs. 151.25 respectively. So far 59691 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 159.00 on 19-Dec-2024 and a 52 week low of Rs. 112.30 on 07-Oct-2024.
Last one week high and low of the scrip stood at Rs. 155.95 and Rs. 149.10 respectively. The current market cap of the company is Rs. 12042.15 crore.
The promoters holding in the company stood at 22.77%, while Institutions and Non-Institutions held 40.66% and 36.57% respectively.
Lemon Tree Hotels has signed a new property -- Lemon Tree Hotel, Bapane in Maharashtra. The property, which shall be managed by Carnation Hotels, a wholly-owned subsidiary of Lemon Tree Hotels, is expected to open in FY 2026.
Bapane Village in Vasai Municipality is located in the Palghar District and is a part of the Mumbai Metropolitan Region. Vasai is a highly industrialised, with small- and medium-scale units producing a wide variety of goods. Affordable housing and its proximity to Mumbai, has ensured a high population growth rate since the 1980s.
Lemon Tree Hotel, Bapane, Maharashtra will feature 76 well-appointed rooms, a restaurant, a meeting room, a swimming pool, a spa and other public areas. The Mumbai International Airport is about 43 kms away while the Mumbai Borivali Railway Station is about 28.8 kms away from the property. 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.
