Lemon Tree Hotels has signed license agreement viz Keys Lite by Lemon Tree Hotels in Vijayawada, Andhra Pradesh.
The said hotel will be managed by Carnation Hotels, a wholly-owned subsidiary of company. The new property is expected to open in FY 2026.Keys Lite by Lemon Tree Hotels, Metropolitan, Vijayawada will feature 44 rooms, restaurant, meeting room, and banquet facilities.
Vilas Pawar, CEO of Managed & Franchise Business, Lemon Tree Hotels said on the occasion, We are excited to share the expansion of our portfolio in Vijayawada where we have one upcoming and two operational properties. This addition will complement our existing four hotels and four upcoming properties in Andhra Pradesh.
Lemon Tree Hotels its principal activities are to carry out the business of developing, owning, acquiring, operating, managing, renovating, 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.
The company reported a 15.55% fall in consolidated net profit to Rs 19.81 crore in Q1 FY25 as compared to Rs 23.46 crore posted in Q1 FY24. However, revenue from operations jumped 19.52% year on year (YoY) to Rs 268.02 crore in Q1 FY25.
The scrip shed 0.54% to Rs 129 on the BSE.
Powered by Capital Market - Live News