Lemon Tree launches eighth property in Uttarakhand

Lemon Tree Hotels on Wednesday announced the opening of its eighth property in Uttarakhand with Lemon Tree Hotel, Mukteshwar.

The hotel features 41 well-appointed rooms and suites, complemented by a multi- cuisine restaurant and a bar. It also has a conference room, a swimming pool, a spa and a fitness centre for recreation.

Lemon Tree Hotels is India's largest hotel chain in the mid-priced sector, and the third largest overall, on the basis of controlling interest in owned and leased rooms, as of 30 June 2017, according to the Horwath Report. It operates in the upscale segment and in the mid-market sector, consisting of the upper-midscale, midscale and economy segments.

On a consolidated basis, Lemon Tree Hotels reported net profit of Rs 16.77 crore in Q2 FY23 as against net loss of Rs 20.82 crore in Q2 FY22. Net sales jumped 103% YoY to Rs 196.72 crore in Q2 FY23.

Shares of Lemon Tree Hotels declined 3.45% to Rs 82.45 on the BSE.

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