Lemon Tree Hotels signs new property in Gujrat

Lemon Tree Hotels has signed a license agreement under its upscale brand, Aurika Hotels & Resorts, with Aurika, Surat in Gujarat.

The property shall be operated by Carnation Hotels, a subsidiary and management arm of Lemon Tree Hotels and is expected to open in FY 2030.

This Hotel will feature 175 aesthetically designed rooms and suites, along with Mirasa, the all-day dining restaurant, banquet facilities including Ekaara, the ballroom and Aurum, the boardroom, a stunning swimming pool and a rejuvenating spa

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 scrip slipped 1.35% to Rs 131.85 on Friday, 23 August 2024.

Powered by Capital Market - Live News