Shares of Lemon Tree Hotels Ltd are trading flat after touching a day’s high of Rs 110.45 on 10th March. Meanwhile, the company announced the signing of a new property, Lemon Tree Hotel, in Gorakhpur, Uttar Pradesh. This takes its total number of hotels in the state to 26.

With the new signing, Lemon Tree Hotels now has 26 properties in Uttar Pradesh, including eight operational hotels and 18 in the pipeline. The Gorakhpur hotel will be managed by Carnation Hotels Private Limited. Specifically, Carnation Hotels Private Limited is a wholly owned subsidiary of the company.

The upcoming property will have 76 rooms, along with a restaurant, banquet hall, meeting room, spa, swimming pool and fitness centre. It is located about 14 km from Gorakhpur Airport and 8.5 km from Gorakhpur Railway Station. As a result, it is accessible for both business and leisure travellers.

Last month, the company also signed a Keys Prima hotel in Akola, Maharashtra. This hotel will feature 55 rooms, a restaurant, a banquet hall, a conference room, and recreational facilities such as a fitness centre, swimming pool, and spa.

With this addition, Lemon Tree Hotels’ Maharashtra portfolio has expanded to 28 properties, including 15 operational hotels and 13 under development.

At 11:18 AM, shares of Lemon Tree Hotels were trading 0.14% higher at Rs 107.90 on the NSE.

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