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Lemon Tree Hotels Ltd. ( (IN:LEMONTREE) ) has provided an update.
Lemon Tree Hotels Limited has signed a licence agreement for a new Lemon Tree Hotel in Ahilyanagar, Maharashtra, which will be operated by its wholly owned subsidiary Carnation Hotels Private Limited. This 95-room property, offering a restaurant, banquet hall, meeting room and recreational amenities such as a swimming pool, spa and fitness centre, targets both corporate and defence-related travellers as well as pilgrims transiting to destinations like Shirdi and Shani Shingnapur.
The signing marks Lemon Tree’s 30th property in Maharashtra, evenly split between operational hotels and those in the pipeline, reinforcing the state as a cornerstone of its domestic growth strategy. By expanding into a regional hub that links industrial growth with the state’s spiritual tourism circuit, the company is strengthening its presence along key travel and economic corridors, aiming to capture evolving demand in India’s business and emerging destination markets.
More about Lemon Tree Hotels Ltd.
Lemon Tree Hotels Limited is India’s largest mid-priced hotel chain, operating and developing properties across key urban and emerging destinations. The company focuses on providing branded, premium yet affordable accommodation for business and leisure travellers, with a growing portfolio in high-growth states like Maharashtra managed partly through its subsidiary Carnation Hotels Private Limited.
Average Trading Volume: 308,595
Technical Sentiment Signal: Hold
Current Market Cap: 96.34B INR
See more insights into LEMONTREE stock on TipRanks’ Stock Analysis page.