Lemon Tree Hotels Limited — Important, 26-12-2024: Updates

Lemon Tree Hotels has signed a License Agreement for a new property, Lemon Tree Hotel, in Bapane, Maharashtra. Managed by its wholly-owned subsidiary, Carnation Hotels, this hotel is set to open in FY 2026. The facility will feature 76 well-appointed rooms, along with amenities including a restaurant, meeting room, swimming pool, spa, and other public areas. Strategically located in the industrially growing Vasai Municipality, it benefits from its proximity to Mumbai, with key transport links to both the Mumbai International Airport and Borivali Railway Station. This addition enhances Lemon Tree's substantial presence in Maharashtra, which already includes twelve operational and five upcoming hotels, positioning the company favorably for continued growth in the region. Investors may view this development as a positive opportunity for expansion in a vibrant market.