The uptick in stock price acme after the company launched its first property in Jharkhand with Lemon Tree Hotel, Centre Point, Jamshedpur
Room with a view: Lemon Tree Hotels, Samhi Hotels top picks on brokerage rankings menu
Stocks to watch on May 30: Lemon Tree Hotels profit surged by 42.3 per cent YoY to Rs 84 crore in comparison to Rs 59 crore
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A combined 17.23 million equity shares, representing 2.17 per cent of total equity of Lemon Tree, changed hands in the first 40 minutes of trade on the NSE and BSE
Listed players hit the 'suite' spot of growth in the business segment in Q2 defying seasonality
As per Vinay Rajani, Nifty's 20 DEMA is placed at 19,700 odd levels. A sustainable level above this could result in a bullish trend reversal in Nifty
The management said the outlook for Lemon Tree Hotels remains promising, with healthy occupancy rates and higher average room rates (ARRs)
In past two days, the stock has surged 11 per cent after as the company launched its first property in Rajkot, and the sixth property of the group in Gujarat.
The move to demerge the hotel business into a separate entity by ITC has brought back focus on hotel stocks, which have already seen a good run thus far in FY24.
Hotel companies are working fast to take advantage of being the first mover at these locations
Stocks to Watch on June 8, 2023: Shares of banks, automobile, and real estate companies could see considerable action in Thursday's session as the Reserve Bank of India (RBI) is slated to announce its
CLOSING BELL ON MAY 30, 2023: The NSE Nifty 50 gained 35 points at 18,634; while the Bank Nifty hit a fresh all-time high at 44,499.
Going forward, analysts expect FY24 to stay strong for the sector supported by full resumption of the economy, India's G20 presidency in 2023, ICC Men's world cup and easing of E-visa rules.
OYO-owned Weddingz.in on Thursday announced a strategic tie-up with Lemon Tree Hotels in a bid to boost revenue, drive demand and sales. The alliance will help increase the fill rate of banquets and event spaces in Lemon Tree Hotels, in more than 40 destinations across the country, including Delhi NCR, Jaipur, Kolkata, Lucknow, Bhubaneswar, Mumbai and Pune, among others. Weddingz.in is an online platform offering wedding venues and related services. It was acquired by hospitality tech firm OYO in 2018. "Lemon Tree venues will feature prominently on the Weddingz.in platform, which gets over 19 lakh prospective customers per month, as India's largest wedding venue marketplace," a release stated. Weddingz will craft specific targeted campaigns and undertake search engine marketing and performance marketing campaigns to drive higher interest, it added. "We have millions of visitors searching our platform not just for wedding venues but also for other events such as parties, conference
It is interesting to see that the new business opportunity is fuelled by India's G20 presidency. The G20 meetings have added to the demand in cities that are slated to host key events
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Occupancy rate is expected to improve further from the pre-pandemic levels, on the back of strong demand drivers including resumption in foreign inbound travel, says analyst at Motilal Oswal.
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.