Lemon Tree Hotels inks new property in Jharkhand

Lemon Tree Hotels said that it has signed franchise agreement for upcoming hotel in Ranchi, Jharkhand.

The property, which will be franchised by Lemon Tree Hotels is expected to open in FY25.

Lemon Tree Hotels, Ranchi will feature 45 well-appointed rooms, a restaurant, a bar, banquet facilities, meeting rooms, a swimming pool, a fitness center and other public areas. The hotel is connected by both public and private transport from all major cities in India.

Lemon Tree Hotels its principal activities are to carry out the business of developing, owning, acquiring, operating, managing, renovating, 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.

The companys consolidated net profit declined 11.43% to Rs 35.40 crore despite of 23.60% increase in revenue from operations to Rs 288.69 crore in Q3 FY24 over Q3 FY23.

The scrip jumped 4.38% to ends at Rs 133.60 on Thursday, 21 March 2024.

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