Lemon Tree Hotels witnessed a 3 percent decline in share price during early trade on February 13 following the announcement of a license agreement for an upcoming hotel in Telangana. T
he hotel, located in Marpalle in Vikarabad district, will operate under the Lemon Tree Resort brand and will be managed by Carnation Hotels Private Limited, a subsidiary of Lemon Tree Hotels Limited.
Spanning across five acres, the hotel will feature 50 rooms, including 14 villas, along with amenities such as a restaurant, bar, banquet hall, meeting rooms, swimming pool, fitness center, and other public areas. Designed to accommodate destination weddings, the property is expected to commence operations in the fiscal year 2027.
As of 11:55 am, Lemon Tree Hotels shares were trading 2.31 percent lower at ₹128.95.
