Lemon Tree Hotels inks new property in Nashik

Lemon Tree Hotels announced that it has signed a license agreement viz Lemon Tree Hotel, Nashik, Maharashtra.

The property, which shall be managed by Carnation Hotels Private, a wholly-owned subsidiary of Lemon Tree Hotels, is expected to open in FY 2026.

Lemon Tree Hotel, Nashik will feature 57 well-appointed rooms, a restaurant, a bar, a banquet hall, a meeting room, a swimming pool and a spa.

Vilas Pawar, CEO- Managed & Franchise Business, Lemon Tree Hotels commented, We are delighted to announce the expansion of our portfolio in Maharashtra, the economic powerhouse of the country. Nashik is a hotspot of vineyard tourism and this is our second opening in the city. This property will be in addition to our twelve existing and one upcoming hotel in the state.

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 company reported a 15.55% fall in consolidated net profit to Rs 19.81 crore in Q1 FY25 as compared to Rs 23.46 crore posted in Q1 FY24. However, revenue from operations jumped 19.52% year on year (YoY) to Rs 268.02 crore in Q1 FY25.

The counter fell 0.42% to settled at Rs 129.35 on Monday, 9 September 2024.

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