Lemon Tree Hotels said that it has signed a license agreement viz Lemon Tree Hotels, Valsad, Gujarat.
The property shall be managed by wholly owned subsidiary, Carnation Hotels and is expected to be open in FY29.Lemon Tree Hotel, Valsad, Gujarat will feature 46 well-appointed rooms, two restaurants, a banquet, a meeting room, a swimming pool, a spa and other public areas. The hotel is also well connected by roadways for both public and private transport.
Vilas Pawar, CEO - managed & franchise business, Lemon Tree Hotels commented, We are delighted to strengthen our portfolio in Gujarat, an economic powerhouse known for its rich cultural heritage, diverse landscapes, and vibrant history. This opening will be in addition to our seven existing and fourteen upcoming hotels in the state.
Lemon Tree Hotels Limited (LTHL) is a leading hotel chain in India, operating a diverse portfolio of hotels across various segments, including upscale, upper-midscale, midscale, and economy. With a strong focus on delivering high-quality service and value, LTHL offers seven distinct brands to cater to diverse guest needs. The company has a significant presence in major metro cities and tier I, II, and III cities across India. LTHL has also expanded its international footprint with hotels in Dubai, Bhutan, and Nepal.
The company's consolidated net profit jumped 31% to Rs 29.64 crore on a 25% increase in net sales to Rs 284.37 crore in Q2 FY25 over Q2 FY24.
The scrip fell 0.78% to settle at Rs 140.35 on 16 January 2025.
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