Lemon Tree Hotels shares gain 2% on licence agreement for new property in Gujarat

Lemon Tree Hotels informed the exchanges, via a release on September 2, that it has signed a licence agreement for Lemon Tree Hotel, Gir, Gujarat. The company said that Carnation Hotels Private Limited, a wholly-owned subsidiary of Lemon Tree Hotels Limited, will manage the property. The hotel is expected to open in FY 2030.

The company said that the hotel will feature 80 well-appointed rooms, a restaurant, a banquet hall, a meeting room, a swimming pool, and a spa. The hotel chain operator added that the new property is situated 167 km from the Rajkot airport. Lemon Tree Hotels also said that the property is located 60 km from the Junagadh Railway Station and 34 km from the Somnath Railway Station. The company added that the hotel is also well connected by road for both public and private transport.

Earlier on August 30, Lemon Tree Hotels announced that it has signed a licence agreement for a property in Amritsar, Punjab. The Lemon Tree Hotel, Amritsar, will be managed by Carnation Hotels Private Limited, a wholly-owned subsidiary of the company and is expected to open in FY 2028.

The hotel will feature 68 well-appointed rooms, a restaurant, a rooftop bar, two banquet halls, meeting rooms, a fitness centre, and a swimming pool. It is situated 19 km from the Sri Guru Ram Das Jee International Airport and 9 km from the Amritsar Railway Station. The company claimed that the hotel is also well connected by roadways for both public and private transport.

Lemon Tree Hotels shares are trading at ₹134.6 apiece, up 1.57% on the NSE at 3:00 pm.