Lemon Tree Hotels launches second property in Tapovan

Lemon Tree Hotels, at fag end of market hours on Friday, 8 April 2022, announced the opening of its second property, Keys Lite by Lemon Tree Hotels, in Tapovan, Rishikesh

The hotel is located near the Ganges river and features 38 well-appointed rooms and suites. It is managed by Carnation Hotels Private, a subsidiary and the hotel management arm of Lemon Tree Hotels. Keys Lite by Lemon Tree Hotels, Tapovan, Rishikesh caters to both business travelers and tourists.

Earlier, the company had announced the signing of a license agreement for 132 room hotel project at Rishikesh in Uttarakhand under the company's brand Aurika Hotels & Resorts. The project in Uttarakhand is a greenfield project and is expected to be operational by March 2025.

Shares of Lemon Tree Hotels rose 1.91% to close at Rs 66.75 on BSE yesterday, 8 April 2022. Lemon Tree Hotels is India's largest hotel chain in the mid-priced hotel sector, and the third largest overall, on the basis of controlling interest in owned and leased rooms, as of 30 June 2017.

On a consolidated basis, Lemon Tree Hotels reported a net loss of Rs 5.22 crore in Q3 2021 as compared with a net loss of Rs 45.73 crore in Q3 2020. Net sales surged 110.1% to Rs 143.65 crore in Q3FY22 over Q3 FY21.

Powered by Capital Market - Live News