Stock to Watch: Lemon Tree Hotels secures LoA for Orchid Hotel redevelopment in Shillong

Lemon Tree Hotels Limited has received a Letter of Award (LoA) from the Government of Meghalaya for the redevelopment, operation, and maintenance of Orchid Hotel in Shillong under a Public-Private Partnership model. The hotel will be rebranded as Aurika Shillong and is projected to commence operations within three years.

The revamped property will feature approximately 120 rooms, a restaurant, a fitness center, banquet facilities, and a spa, providing enhanced guest experiences. To execute the project, Lemon Tree will form a Special Purpose Vehicle (SPV), which could be a Joint Venture (JV), subject to board approval.

This project marks a significant step for Lemon Tree in expanding its presence in the northeast region, emphasizing high-quality hospitality and infrastructure development.

 

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.