Lemon Tree Hotels said that it has signed franchise agreement for hotel in Udaipur, Rajasthan Under the company's brand name, Keys Lite.
The hotel will feature 68 well-appointed rooms, a restaurant, and other public areas and is expected to be operational in FY25.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 companys consolidated net profit declined 11.43% to Rs 35.40 crore in Q3 FY24 as compared with Rs 399.72 crore in Q3 FY23. Revenue from operations jumped 23.61% YoY to Rs 288.69 crore in Q3 FY24.
The scrip rose 1.07% to end at Rs 141.20 on Friday, 2 March 2024.
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