Lemon Tree Hotels share price rises as company expands portfolio with new agreement

Lemon Tree Hotels’ share price increased during the opening trade on March 19, when it announced the signing of the license agreement for Lemon Tree Hotels Agartala, Tripura.

As of 10:00 am the shares were trading at ₹130.25

Advertisement

The licensing agreement marks Lemon Tree Hotel’s entry into Tripura and expects to open its doors in FY27. The management of this property will be carried out by Carnation Hotels Private Limited, a wholly-owned subsidiary and the management vertical of Lemon Tree Hotels Limited . The future hotel will have 80 well-appointed rooms, two restaurants, a bar, two conference and banqueting spaces, meeting rooms, a swimming pool, a gym, and additional public facilities, allowing guests to enjoy the entire hospitality experience. This expansion is part of Lemon Tree Hotel’s strategic move to expand its business to frontline areas.

Earlier in February, Lemon Tree Hotels inaugurated its seventh Lemon Tree Resort in Kumbhalgarh, Rajasthan, demonstrating its commitment to expanding its footprint in popular tourist destinations. Additionally, the company secured license agreements for Lemon Tree Resort in Sankhwas Garh, Rajasthan, and Keys Lite by Lemon Tree Hotels in Vijayawada.

The Company has also signed agreements for a hotel in Noida under the Lemon Tree Hotel brand and Marpalle in Telangana, suggesting that it will be aggressive in enhancing its portfolio.