Lemon Tree Hotels shares surge nearly 2% on signing two properties in UP, MP

The stock was trading 0.22% higher at ₹171.40 per equity share, as of 11:04 am.

This comes after the pure-play hospitality company signed two new properties, one in Uttar Pradesh and the other in Madhya Pradesh, it said in a regulatory filing dated Tuesday.

The Keys Prima by Lemon Tree Hotels, Varanasi, will be franchised under Lemon Tree Hotels and will feature 153 well-appointed rooms, it added.

According to the company, the property will also feature a restaurant, banquets, a conference room, a swimming pool, a fitness centre, and a spa, along with other public areas.

Furthermore, the franchise will be located 31 km from the Lal Bahadur Shastri International Airport, Varanasi, and 12 km away from the Varanasi Railway Junction.

Carnation Hotels Pvt Ltd, a wholly owned subsidiary of the company, will manage its Keys Select by Lemon Tree Hotels, Rewa property, which will feature 50 rooms, two restaurants, a banquet hall, a swimming pool, and other public areas.

The hotel will be located at a distance of 19 km from the Rewa Airport and 13 km from the Rewa Railway Station, it added.

Both the newly signed properties will be well-connected by roadways for both public and private transport, Lemon Tree Hotels said.

Commenting on the announcement, Vilas Pawar, CEO, Managed & Franchise Business, Lemon Tree Hotels said: “We are delighted to announce the expansion of our portfolio in the Hindi heartland of Uttar Pradesh and Madhya Pradesh. While expanding its footprint across the country in cities of all tiers, this signing by Lemon Tree Hotels perfectly aligns with the company’s vision of becoming the most preferred hospitality chain across different segments."

On September 23, the hospitality company launched its fifth hotel in Andhra Pradesh, Keys Lite by Lemon Tree Hotels, Krishna, Vijayawada. It’s also Lemon Tree Hotels’ third property in the city, it said in a separate regulatory filing.

Lemon Tree Hotels has a total market capitalisation of ₹13,693.98 crore, as of September 23, 2025, according to data on the NSE.