Lemon Tree Hotels rose 1.42% to Rs 142.55 after the company announced that it has signed a license agreement viz. Lemon Tree Hotel, Jaipur, Rajasthan.
The property shall be managed by Carnation Hotels, a wholly-owned subsidiary of the company, and is expected to start its operations in FY 2027.Lemon Tree Resort, Jaipur, Rajasthan, will feature 66 well-appointed rooms and a restaurant, a banquet, a meeting room, a swimming pool, a fitness center, and other public areas.
Vilas Pawar, CEO of the managed & franchise business Lemon Tree Hotels, said, We are thrilled to expand our presence in Rajasthan, complementing our portfolio of 10 existing hotels and six upcoming properties.
Lemon Tree Hotels' 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 names Lemon Tree Hotel, Lemon Tree Premier, Red Fox Hotel, Aurika, Keys Select, Keys Prima, and Keys Lite.
The companys consolidated net profit surged 76.53% to Rs 62.49 crore on a 22.4% increase in revenue from operations to Rs 355.18 crore in Q3 FY25 over Q3 FY24.
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