Lemon Tree Hotels spurts on inking new property in Uttar Pradesh

Lemon Tree Hotels is currently trading at Rs. 96.46, up by 2.00 points or 2.12% from its previous closing of Rs. 94.46 on the BSE.

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

The scrip opened at Rs. 95.00 and has touched a high and low of Rs. 96.98 and Rs. 95.00 respectively. So far 477757 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. 52.20 on 30-May-2022.

Last one week high and low of the scrip stood at Rs. 96.98 and Rs. 89.38 respectively. The current market cap of the company is Rs. 7605.57 crore.

The promoters holding in the company stood at 23.61%, while Institutions and Non-Institutions held 35.10% and 41.29% respectively.

Lemon Tree Hotels has signed Lemon Tree Premier, Lucknow, located at Gomti Nagar, one of the fastest growing localities of the capital of Uttar Pradesh. The property is expected to be operational by August 2026 and shall be managed by Carnation Hotels, a wholly-owned subsidiary and the management arm of Lemon Tree Hotels.

While Lucknow is famous for its chequered history, mouth-watering cuisine and the impeccable manners of its denizens, the property is located at Gomti Nagar, one of the city’s largest upcoming areas. It is dotted with high-end premium residential projects, malls, IT Parks, commercial property, SEZs, plots, universities, business centres, multiplexes, clubs, banks, food courts, entertainment centres and financial institutions. Gomti Nagar is situated on the banks of the river Gomti, which flows through Lucknow, from which the area takes its name. Several important Government offices, including RBI, Lucknow Metro, BSNL, Custom Division and more are located here. There are ample options for shopping malls, multiplexes, restaurants, pubs, cafes, and others, along with a number of premium 5-star and 4-star hotels.

The property will feature 82 well-appointed rooms, two restaurants, a bar, a swimming pool, meeting rooms, a fitness center and other public areas. The Lucknow Airport is about 24 kms from the property while the Railway Station is just 11 kms away. It is just 8 kms away from Hazratganj, the heart of the city. The property is connected by both public and private transport from all major cities in India.

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.