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Lemon Tree Hotels rises on inking license agreement for property in Kasauli

Lemon Tree Hotels is currently trading at Rs. 74.85, up by 0.90 points or 1.22% from its previous closing of Rs. 73.95 on the BSE.

lemon tree hotels rises on opening 142 room hotel in kolkata
Lemon Tree Hotels

The scrip opened at Rs. 74.15 and has touched a high and low of Rs. 75.25 and Rs. 74.15 respectively. So far 28822 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 103.30 on 01-Dec-2022 and a 52 week low of Rs. 47.25 on 25-Feb-2022.

Last one week high and low of the scrip stood at Rs. 79.05 and Rs. 73.10 respectively. The current market cap of the company is Rs. 5858.66 crore.

The promoters holding in the company stood at 23.61%, while Institutions and Non-Institutions held 36.94% and 39.45% respectively.

Lemon Tree Hotels has signed a License Agreement for a 110 room property in Kasauli, Himachal Pradesh under the Company’s brand ‘Aurika’. The hotel is expected to be operational in November, 2024. The property shall be operated by Carnation Hotels, a subsidiary and management arm of Lemon Tree Hotels.

The property will feature 110 elegant rooms and suites, Mirasa – the all-day dining restaurant, Ariva – the bar, expansive banquet spaces spread over 3,000 sq. mtrs., and eclectic venues for private events and exclusive experiences. The recreational facilities will include a relaxing spa, a stunning swimming pool, a well-equipped fitness center and a game room.

Lemon Tree Hotels is India’s largest hotel chain in the mid-priced hotel sector, and the third largest overall, on the basis of controlling interest in owned and leased rooms.