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Lemon Tree Hotels Gain 3% on Launching Two Hotel Properties in Maharashtra, Karnataka

Lemon Tree Hotels announced signing a new property in Anjar, Gujarat.

Shares of Lemon Tree Hotels were trading in the green and 3% higher on 4 December after the company announced the opening of its hotel in Karnataka and Maharashtra.

In its regulatory filing, the company said this is the tenth property in Maharashtra under its name. The hotel features 50 well-appointed rooms, a bar, a restaurant, a swimming pool, banquet spaces, a fitness centre, and other public amenities.

The new property in Hubli is the company’s eighth property in Karnataka, and the hotel features 65 rooms and suites, Republic of Noodles and Pool Bar & Grill, Citrus Café – a multi-cuisine coffee shopCitrus Café – a multi-cuisine coffee shop, Conference spaces, Fresco – a rejuvenating spa, a fitness centre, a swimming pool, and other public amenities.

In November, the company signed a licence agreement under its Keys Select brand for a property in Yadagirigutta, Telangana. The hotel will feature 150 well-appointed rooms, a fitness centre, a restaurant, a swimming pool, banquets, conference rooms, and other public amenities.

In October, the company signed a licence agreement for “Red Fox Hotel” in Visakhapatnam, Andhra Pradesh. The hotel will feature 50 well-appointed rooms, a fitness centre, one restaurant, a conference room, and other public amenities.

At 11:32 am, the shares of Lemon Tree Hotels were trading 0.88% higher at Rs 114.05 on NSE.

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