Shares of Lemon Tree Hotel were trading 4% above on 6 November after the company signed a licence agreement for a new property in Yadagirigutta, Telangana, under the Keys Select brand.
In its regulatory filing, the company said that the hotel is expected to be operational by FY2026 and will be operated by Carnation Hotels Private Limited, the company’s wholly-owned subsidiary and hotel management arm.
The hotel will feature 15 well-appointed rooms, a fitness centre, a restaurant, conference rooms, a banquet, a swimming pool, a bar, and other public amenities.
The company also said that its Board of Directors are set to meet on 9 November to consider and approve the unaudited financial results of the company on both consolidated and standalone basis for the July-September quarter of the current fiscal year.
In October, the company signed another licence agreement for a property in Visakhapatnam, Andhra Pradesh, ‘Red Fox Hotel’, which will feature 50 well-appointed rooms, a fitness centre, a restaurant, a conference room, and other public amenities. The property is expected to be commissioned by FY26 and will be managed by Carnation Hotels Private Limited.
At 10:51 am, the shares of Lemon Tree Hotel were trading 2.94% higher at Rs 112.15 on NSE.