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The latest announcement is out from Lemon Tree Hotels Ltd. ( (IN:LEMONTREE) ).
Lemon Tree Hotels’ wholly owned subsidiary, Carnation Hotels Private Limited, has signed a Hotel Operating Agreement for a new property in Tirupati, Andhra Pradesh, which will be operated under the “Lemon Tree Suites” brand once a licence agreement is executed following receipt of statutory completion clearances. The Tirupati hotel, located in one of India’s most prominent pilgrimage destinations, will add 228 rooms and suites along with a restaurant, banquet and meeting space, and recreational facilities including a swimming pool and spa, reinforcing the group’s push into the high-potential spiritual and pilgrimage travel segment and further expanding its footprint in Andhra Pradesh, where it already has a portfolio of operational and upcoming hotels.
More about Lemon Tree Hotels Ltd.
Lemon Tree Hotels Limited is one of India’s leading hospitality companies, operating across upper upscale, upscale, upper midscale, midscale, leisure, wildlife and spiritual segments. Through seven brands, including Aurika Hotels & Resorts, Lemon Tree Premier, Lemon Tree Hotels, Red Fox and various Keys sub-brands, it caters to value-conscious as well as premium business and leisure travellers, with more than 120 operating hotels across over 80 cities in India and select international locations such as Dubai, Bhutan and Nepal, and a sizeable pipeline of upcoming properties.
Average Trading Volume: 145,084
Technical Sentiment Signal: Buy
Current Market Cap: 128B INR
For detailed information about LEMONTREE stock, go to TipRanks’ Stock Analysis page.