Lemon Tree Hotels zooms over 100% in one year, stock nears record high

The increasing traction in corporate travel will benefit us to a great extent as more than 85 per cent of the company's inventory is in business hotels, the company said in its annual report.

Shares of Lemon Tree Hotels hit a three-year high at Rs 82.65, up 3 per cent on the BSE in Monday’s intra-day trade on the back of heavy volumes. In the past two weeks, the stock has rallied 21.5 per cent. Lemon Tree Hotels operate in the upscale segment and in the mid-market sector, consisting of the upper-midscale, midscale and economy segments.

In the past one year, the stock has zoomed 106 per cent, as compared to 3 per cent rise in the S&P BSE Sensex. It trades at its highest level since April 2019. The stock is quoted