Lemon Tree Hotels rallied 3.73% to Rs 150.10 after the company announced the opening of its ninth property in Rajasthan, Udaipur with Keys Lite by Lemon Tree Hotels.
The company said that this is also the third offering of the brand in the City of Lakes after the upscale Aurika, Udaipur and the mid-scale, Keys Select by Lemon Tree Hotels, Udaipur.
The property is being operated under the franchise division of Lemon Tree Hotels.
This hotel is located next to the Urban Square Mall has 68 well-appointed rooms. Of the 68 rooms, 34 opened today as part of Phase I of the launch, and the remaining 34 will open shortly thereafter, as part of phase II.
Lemon Tree Hotels is engaged to carry out business of developing, owning, acquiring, renovating, operating, managing and promoting hotels, motels, resorts, restaurants, etc. under the brand name of Lemon Tree Hotel, Lemon Tree Premier, Red Fox Hotel, Aurika, Keys Select, Keys Prima and Keys Lite. Also, some of the Group companies provide project management services and learning & development services.
The company reported a 42.33% jump in consolidated net profit to Rs 83.99 crore on 29.53% increase in revenue from operations to Rs 327.31 crore in Q4 FY24 over Q4 FY23.
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