Lemon Tree Hotels hit a 52-week high of Rs 108.5 in early deals on August 21 after the company signed contracts for two hotels in Odisha and Himachal Pradesh.
The company has signed licensing agreements under the “Lemon Tree Hotel” brand in Odisha’s Bhubaneswar and the Lemon Tree Mountain Resort in Kasauli.
Bhubaneswar Lemon Tree Hotel will have 60 rooms and is expected to open in the fourth quarter of fiscal year 2025. Lemon Tree Mountain Resort in Kasauli will have 50 rooms and cottages and is expected to be operational in third quarter of fiscal year 2025.
2026. The company doubled its consolidated net profit in the June quarter to Rs 27.5 crore year-on-year. Consolidated revenue increased 16.8% year-on-year (YoY) to Rs 226.4 crore and earnings before interest, tax, depreciation and amortization increased 15% to Rs 106.8 crore.
In July, the hotel chain signed licensing agreements for an 80-room property in Punjab and a 72-room property in Gomti Nagar in Lucknow.
Lemon Tree Hotels trades down despite launch of 95th property
September 25, 2023
