Lemon Tree Hotels rises on opening 142 room hotel in Kolkata

Lemon Tree Hotels rose 1.08% to Rs 56.30 after the company said it launched a 142-room hotel in Kolkata.

Lemon Tree Hotels said it has entered into Kolkata with the launch of 142 room hotel - Lemon Tree Premier, New Town, strategically located in close proximity to the business and IT hub of New Town, SEZs, Rajarhat and Salt Lake.

This new age contemporary hotel is the company's second in West Bengal after Siliguri. The hotel has a 24x7 multi-cuisine coffee shop - Citrus Caf a hip recreation bar - Slounge; the celebrated pan-Asian restaurant - Republic of Noodles; the spa - Fresco; fitness center; swimming pool and large meeting spaces.

With this addition, the company operates 58 hotels including managed properties across 35 cities in India. The announcement was made after trading hours yesterday, 14 October 2019.

Meanwhile, the S&P BSE Sensex was up 238 points or 0.62% to 38,452.13.

On the BSE, 11,888 shares were traded in the counter so far compared with average daily volumes of 9,643 shares in the past two weeks. The stock hit an intraday high of Rs 57.80 and an intraday low of Rs 56.05 so far during the day.

The stock hit a 52-week high of Rs 90.90 on 2 April 2019. The stock hit a 52-week low of Rs 48 on 13 August 2019.

On a consolidated basis, Lemon Tree Hotels reported net loss of Rs 1.67 crore in Q1 June 2019 compared with net profit of Rs 2.29 crore in Q1 June 2018. Net sales climbed 11% to Rs 140.93 crore in Q1 June 2019 over Q1 June 2018.

Lemon Tree Hotels operates a chain of upscale business and leisure hotels. The firm designs, builds, owns and operates its hotels.

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