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The shares of a Hospitality company, specializing in offering budget-friendly and mid-scale hotel accommodations jumped upto 6 percent upon signing a License Agreement viz. Red Fox by Lemon Tree (NSE:LEMO) Hotels for property in Bhopal.
Price action
With a market capitalization of Rs. 10,374.47 crores on Wednesday, the shares of Lemon Tree Hotels (NSE:LEMO) jumped upto 5.6 percent making a high of Rs. 131.70 per share compared to its previous closing price of Rs. 124.10 per share.
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What Happened
Lemon Tree Hotels Limited engaged in offering budget-friendly and mid-scale hotel accommodations, has signed a license agreement for a new property under its arm, Red Fox by Lemon Tree Hotels, in Bhopal, Madhya Pradesh.
The property shall be managed by Carnation Hotels Private Limited, a wholly-owned subsidiary of Lemon Tree Hotels Limited, the hotel will feature 46 rooms, a restaurant, meeting facilities, a bar, and other public areas and it is expected to start operations in FY 2027. This expansion strengthens Lemon Tree’s presence in Madhya Pradesh, complementing its existing hotels in the region.
Management Commentary
Mr. Vilas Pawar, CEO — Managed & Franchise Business, Lemon Tree Hotels said: “We are thrilled to announce our latest signing, which will further expand our presence in Madhya Pradesh. This opening will be in addition to our four operational and three upcoming hotels in the state. This signing is a testament to our commitment to providing exceptional hospitality and unforgettable experiences in one of India’s most vibrant destinations.”
About the Company
Lemon Tree Hotels Limited (LTHL) is one of the largest hotel chains in India and owns/leases/operates/franchises hotels across the upscale, upper-midscale, midscale, and economy segments. LTHL delivers differentiated yet superior service offerings, with a compelling value proposition. The group offers seven brands to meet guests’ needs across all levels, viz. Aurika Hotels & Resorts, Lemon Tree Premier, Lemon Tree Hotels, Red Fox by Lemon Tree Hotels, Keys Prima by Lemon Tree Hotels, Keys Select by Lemon Tree Hotels, and Keys Lite by Lemon Tree Hotels.
Financials
The company’s total revenue rose by 22.3 percent from Rs. 290.87 crore to Rs. 355.8 crore in Q3FY24-25. Meanwhile, Net profit rose from Rs. 35.4 crore to Rs. 62.49 crore during the same period.
Written by Sridhar J
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