Lemon Tree launches 4th property in Himachal Pradesh

Lemon Tree Hotels announced the opening of its fourth property in Kasauli, Himachal Pradesh under the brand 'Lemon Tree Hotel'.

This hotel with 49 keys will open in two phases. Of the 49 well-appointed rooms and suites, 28 opened on Thursday, 28 March 2024 along with Citrus Caf a multicuisine coffee shop, an expansive banquet space and conference facility as a part of phase I of the launch.

The remaining rooms, Slounge a hip recreation bar; Fresco, a rejuvenating spa and the fitness center will open shortly thereafter, as part of phase II.

Further, the company informed that Lemon Tree Hotel (Amritsar) (64 rooms managed hotel) has been de-flagged and the said hotel shall not be part of Lemon Tree umbrella effective 1 April 2024.

Lastly, Lemon Tree informed that the franchise agreement dated 10 April 2023 executed between the company and Lumbini Palace Resorts, Nepal has been terminated due to default / non compliance of the agreed terms of the Agreement by Lumbini Palace Resorts.

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 despite of 23.60% increase in revenue from operations to Rs 288.69 crore in Q3 FY24 over Q3 FY23.

Shares of Lemon Tree Hotels ended 1.40% lower at Rs 130.75 on Thursday, 28 March 2024.

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