Lemon Tree Hotels Limited — Important, 25-02-2025: General Updates

Lemon Tree Hotels has signed a License Agreement for a new property, the Lemon Tree Hotel in Shirdi, Maharashtra, which will be managed by its wholly-owned subsidiary, Carnation Hotels Private Limited. Operations are expected to commence in FY 2028. The hotel will feature 50 well-appointed rooms, a restaurant, banquet hall, meeting room, swimming pool, spa, and other public areas. Shirdi is a prominent pilgrimage destination attracting millions of visitors each year, which could enhance the hotel's occupancy rates. With this expansion, Lemon Tree aims to tap into Maharashtra’s robust economic landscape, complementing its existing portfolio of 12 hotels and six upcoming properties in the state, signaling a positive outlook for growth and market positioning.