Share price of the largest hotel chain in the mid-priced hotel sector in India moved up by nearly 2.23% to Rs. 144.25 in the morning trading session of Tuesday, compared to its previous close of Rs. 141.1, after the company announced the signing of License Agreement.
With a market capitalisation of Rs. 11,242 crores, at 11:14 a.m. the shares of Lemon Tree Hotels Ltd. were trading in the green at Rs. 142.3, up by 0.85 percent.
In the last one year, the company has delivered positive returns of nearly 92.21 percent and more than 35.5 percent of returns in the last six months. So far in 2024, it has given positive returns of around 19.50 percent.
According to the recent regulatory filings with the stock exchanges, Lemon Tree Hotels announced the signing of a License Agreement for two new properties: Lemon Tree Resort in Sankhwas Garh, Rajasthan and Keys Lite by Lemon Tree Hotels, Vijayawada.
In addition, both properties are expected to open in FY26 and will be managed by Carnation Hotels Private Limited, a wholly-owned subsidiary and the hotel management arm of Lemon Tree Hotels.
Sankhwas Garh, a Lemon Tree Resort in Rajasthan will have 51 well-appointed rooms, a restaurant, a bar, a banquet hall, conference rooms, a swimming pool and other common facilities.
Keys Lite by Lemon Tree Hotels, Vijayawada will include 44 well-appointed rooms, a restaurant and a conference space.
The hotel is located around 15 km from Vijayawada International Airport and 6 km from Vijayawada Railway Station. The hotel is easily accessible via both private and public transportation from all major cities in India.
In terms of financials, the revenue from operations of the company grew by 27.31 percent QoQ from Rs. 227 crore in Q2 FY23-24 to Rs. 289 crore in Q3 FY23-24.
The net profit of the company is Rs. 44 crore in Q3 FY23-24, a growth of 69.23 percent on a quarter-on-quarter basis from Rs. 26 crore in Q2 FY23-24.
Lemon Tree Hotels Limited (LTHL) is one of India’s largest hotel chains and owns, leases, operates or franchises hotels across the upscale, upper-midscale, midscale and economy segments.
Written by Shivani Singh
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