Lemon Tree Hotels rises on signing new property in Punjab

Lemon Tree Hotels is currently trading at Rs. 91.80, up by 0.93 points or 1.02% from its previous closing of Rs. 90.87 on the BSE.

lemon tree hotels opens 142 room hotel in kolkata
Lemon Tree Hotels

The scrip opened at Rs. 91.28 and has touched a high and low of Rs. 92.08 and Rs. 91.11 respectively. So far 76876 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. 64.10 on 27-Jul-2022.

Last one week high and low of the scrip stood at Rs. 92.22 and Rs. 90.15 respectively. The current market cap of the company is Rs. 7199.14 crore.

The promoters holding in the company stood at 23.60%, while Institutions and Non-Institutions held 35.86% and 40.54% respectively.

Lemon Tree Hotels has signed Lemon Tree Hotel, Zirakpur, Punjab. The property is expected to be operational by Q2 of FY 2027 and shall be managed by Carnation Hotels, a wholly-owned subsidiary and the management arm of Lemon Tree Hotels. The property will feature 80 well-appointed rooms, banquets, a conference room, a restaurant, a fitness center and other public areas.

Located on the Shivalik Foothills, Zirakpur is a leading town in the District of Mohali, Punjab and is the gateway to Chandigarh from Delhi. It falls within the Chandigarh Tricity region, which includes Chandigarh, Mohali, and Panchkula. Over the past few years, Zirakpur has experienced significant growth in the real estate sector. It has become a popular destination for people looking to buy residential and commercial properties due to its proximity to Chandigarh and relatively lower property prices compared to the city.

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

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