Lemon Tree Hotels shares surged more than 3% in early trade on August 29 after the firm signed a new property in Ujjain, Madhya Pradesh. The property will be managed by Carnation Hotels Private Limited and is expected to open in FY 2027.
In the exchange filing, the company shared, “Lemon Tree Hotel, Ujjain, Madhya Pradesh will feature 72 well-appointed rooms, a restaurant, a bar, a swimming pool and other public areas. The Devi Ahilyabai Holkar International Airport, Indore is approximately 50 kms away while the Ujjain Railway Station is 4 kms away. The hotel is well connected by roadways for both public and private transport.”
Vilas Pawar, CEO-managed & franchise business, Lemon Tree Hotels, stated, “Being the Spiritual Capital of India, Ujjain is on the must-visit list for pilgrims and we are thrilled to expand our presence in the city. This opening will be in addition to our four existing and two upcoming hotels in the state.”
As of 9:59 am, Lemon Tree Hotels shares were trading 3.43% higher at Rs 137.20 on the NSE.
