Lemon Tree Hotels announced that it has signed a license agreement viz Lemon Tree Hotel in Adalat Road, Aurangabad, Maharashtra.
The property shall be managed by Carnation Hotels, a wholly owned subsidiary of Lemon Tree Hotels and is expected to open in FY 2028.This hotel will feature 60 well-appointed rooms, a restaurant, a banquet hall, a meeting room, a swimming pool, a spa and other public areas. The hotel is also well-connected by road, making it accessible by both public and private transport.
Vilas Pawar, CEO-managed & franchise business, Lemon Tree Hotels, said, "We are excited to announce our further expansion in Maharashtra. This new addition will complement our twelve existing and four upcoming properties in the state, further enhancing our commitment to providing exceptional hospitality and experiences in this beautiful region.
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 rose 0.13% to close at Rs 115.55 on Wednesday, 23 October 2024.
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