The share price of Lemon Tree Hotels witnessed a surge in the opening trade on March 19 following the company’s announcement of signing a license agreement for Lemon Tree Hotels Agartala in Tripura.
As of 09:32 am, Lemon Tree Hotels was trading at Rs 131.60, marking an increase of Rs 1.75 or 1.35 per cent on the Bombay Stock Exchange or BSE.
The upcoming Lemon Tree Hotels property in Agartala, slated to open in FY27, marks the company’s entry into the State, expanding its footprint in the Northeastern region of Bharat.
Managed by Carnation Hotels Private Limited, a wholly-owned subsidiary and the management arm of Lemon Tree Hotels Limited, the Agartala property is anticipated to offer 80 well-appointed rooms, along with amenities such as two restaurants, a bar, banquet facilities, meeting rooms, a swimming pool, a fitness center, and other public areas.
In addition to the Agartala venture, Lemon Tree Hotels has been actively expanding its portfolio. In February, the company inaugurated its seventh Lemon Tree Resort in Kumbhalgarh, Rajasthan. Furthermore, the company inked a license agreement for Lemon Tree Resort in Sankhwas Garh, Rajasthan, and Keys Lite by Lemon Tree Hotels in Vijayawada.
Further enhancing its presence, Lemon Tree Hotels signed a license agreement for a hotel in Noida under the Lemon Tree Hotel brand and acquired a property in Telangana’s Marpalle.
The strategic expansion initiatives underscore Lemon Tree Hotels’ commitment to catering to diverse market segments and strengthening its position in key tourism destinations across Bharat. The positive market response to the latest announcement reflects investor confidence in the company’s growth trajectory and expansion efforts.
