Lemon Tree Hotels launches hotel in Dwarka, Gujarat; stock advances 10%

For the quarter ended June 2020, the company's revenue from operations declined 71.1 per cent year-on-year (YoY) to Rs 40.7 crore.

Shares of Lemon Tree Hotels zoomed as much as 9.5 per cent to Rs 29.25 apiece on the BSE on Wednesday after the company announced its debut in Dwarka, Gujarat, with the launch of the 109 key hotel - Lemon Tree Premier, Dwarka. 

"The hotel features 109 well-appointed rooms and suites, a multi-cuisine vegetarian coffee shop-Citrus Café, banquet facilities, Conference facility Spa, etc. The hotel shall be managed by Carnation Hotels Private Limited, a subsidiary, and the hotel management arm of Lemon Tree Hotels Limited," the company said in its press release.

For the quarter ended June