Lemon Tree Hotels signs new property in Karnataka

Lemon Tree Hotels announced the signing of a new property in Kalaburagi, Karnataka.

The hotel, to be managed by Carnation Hotels, is expected to open in fiscal year 2027.

Kalaburagi, a historic city known for its rich cultural heritage, is a popular tourist destination. The city boasts iconic landmarks like the Gulbarga Fort and the Khwaja Bande Nawaz Dargah. Its unique blend of Kannada and Urdu culture, along with religious places like the Sharana Basaveshwara Temple and the Buddha Vihara, attracts visitors from far and wide.

Lemon Tree Hotel, Kalaburagi, will offer 72 well-appointed rooms, a restaurant, a bar, a banquet hall, a meeting room, a swimming pool, a fitness center, a spa, and other amenities. The hotel is conveniently located just 14 kilometers from Kalaburagi Airport and 6 kilometers from Kalaburagi Railway Station, ensuring easy accessibility for travelers.

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

Shares of Lemon Tree Hotels declined 3.60% to Rs 116.45 on the BSE.

Powered by Capital Market - Live News