Lemon Tree Hotels Limited — Important, 29-11-2024: Updates

Lemon Tree Hotels has signed two significant License Agreements for new properties in India: Keys Prima by Lemon Tree Hotels in Kempty Road, Mussoorie, and Lemon Tree Hotel in Varanasi. The Mussoorie property will feature 47 rooms and is expected to open by FY 2026, while the Varanasi hotel will offer 65 rooms, set to commence operations in FY 2028. Both establishments will be managed by Carnation Hotels, a wholly-owned subsidiary. These developments mark a strategic expansion into key tourist destinations, enhancing Lemon Tree's portfolio in both Uttarakhand and Uttar Pradesh, where they currently have a significant number of operational and upcoming properties. This expansion highlights Lemon Tree's commitment to providing exceptional hospitality and may offer positive growth opportunities for investors.