Lemon Tree inks pact for new property in Himachal Pradesh

Lemon Tree Hotels has signed license agreement for a 110 room property in Kasauli, Himachal Pradesh under its brand Aurika Hotels & Resorts.

The hotel is expected to be operational in November 2024. Carnation Hotels, a wholly owned subsidiary and the hotel management arm of the company, will be operating this hotel.

The property will feature 110 rooms and suites, Mirasa, all day dining restaurant. Ariva, bar, expansive banquet spaces spread over 3,000 sq. mtrs. and venues for private events and exclusive experiences. The recreational facilities will include a spa, a swimming pool, a fitness center and a game room.

Mahesh Aiyer, chief executive officer (CEO) - Carnation Hotels, said, We are happy to announce our signing of an Aurika with our valued partner, Arosa Resorts. This property will further expand our footprint in Himachal Pradesh where we have an operational property in Baddi and another 3 upcoming in Shimla, Manali and McLeodganj.

Lemon Tree Hotels is engaged to carry out business of developing, owning, acquiring, renovating, operating, managing and promoting hotels, motels, resorts, restaurants, etc. under the brand name of Lemon Tree Hotel, Lemon Tree Premier, Red Fox Hotel, Aurika, Keys Select, Keys Prima and Keys Lite. Also, some of the Group companies provide project management services and learning & development services.

The company reported a consolidated net profit of Rs 39.97 crore in the quarter ended December 2022 as against net loss of Rs 1.87 crore during the previous quarter ended December 2021. Sales rose 62.58% to Rs 233.55 crore in Q3 FY23 over Q3 FY22.

Shares of Lemon Tree Hotels were down 1.01% to Rs 73.20 on the BSE.

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