Lemon Tree Hotels shares traded up 1% at Rs 92.75 on July 19 after the company contracted a licence treaty for a 72-room property in Gomti Nagar, Lucknow.

Carnation Hotels Private Limited, a wholly-owned subsidiary and the hotel management arm, will function this property, said Lemon Tree Hotels. The hotel is predictable to be functioning by Q3FY2026.

This hotel will feature 72 well-appointed rooms, meeting rooms, a banquet, a restaurant, a bar, a fitness centre, and other public areas.

Earlier, the company had contracted a licence agreement for a 48-room property in Rajasthan’s Udaipur under the company’s ‘Keys Select by Lemon Tree Hotels’ brand. The hotel is anticipated to go on stream by Q4FY24.

Broking house Motilal Oswal’s July 12 report repeated the ‘buy’ rating on the stock and target price of Rs 115.