Lemon Tree Shares Hit 52-Week High as Company Signs 2 New Properties
Shares of Lemon Tree Hotels hit a 52-week high of Rs 125.50 on 15 September after the company signed a licence agreement for 2 new properties in Gujarat and Nepal.

The company plans to set up a property in Chitwan, Nepal, that will function under the company’s brands “Lemon Tree Resorts” and “Lemon Tree Hotel”, and a property in Junagadh, Gujarat, that will feature 64 well-appointed rooms, a banquet hall, a restaurant, meeting rooms, and other public amenities and is expected to be operational by FY2025.

Tigerland Safari – a Lemon Tree Resort in Chitwan, Nepal, will feature 35 well-appointed rooms, a banquet hall, meeting rooms, one restaurant, and other public amenities expected to be operational in FY2024.

In September, the company signed a licence agreement for an 80-room property in Uttarakhand’s Dehradun under the company’s “Lemon Tree Premier” brand that is expected to be operational by Q3FY2025.

In August, the company signed licence agreements for two properties in Odisha under the “Lemon Tree Hotel” in Bhubaneswar and Lemon Tree Mountain Resort in Kasauli, Himachal Pradesh.

At 11:17 am, the shares of Lemon Tree Hotels were trading at Rs 123.75 or 0.86% above its previous close on NSE.