Lemon Tree Hotels Limited — Important, 09-12-2024: Updates

Lemon Tree Hotels has signed a License Agreement for the Lemon Tree Resort located in Mirik, West Bengal, which is set to open in FY 2028. This new resort will be managed by Carnation Hotels Private Limited, a fully-owned subsidiary of Lemon Tree Hotels. The resort will consist of 50 well-appointed rooms, alongside amenities including a restaurant, bar, meeting room, banquet facility, swimming pool, and fitness center.

Mirik, known for its stunning landscapes and mild climate, attracts tourists year-round with its natural beauty and proximity to the Kanchenjunga mountain range. The resort will also benefit from its accessibility, being about 55 kilometers from Bagdogra Airport and 50 kilometers from Siliguri Railway Station. This strategic addition reflects the company's ongoing commitment to expanding its presence in West Bengal, complementing existing properties in the region. Investors should view this expansion as a positive growth initiative that enhances Lemon Tree Hotels' portfolio and market positioning.