Lemon Tree Hotels zooms 5% after it signs agreement to open hotel in Goa

Earlier, the hospitality firm had said that it is looking to open three more properties under its upscale Aurika Hotels and Resorts brand across the country by the end of 2021.

Lemon Tree Hotels gained 5.13 per cent to Rs 61.50 on the BSE on Thursday after the company signed a License Agreement for a 44-room hotel at Baga, Goa. This will be the company's fifth hotel in the coastal state.

"The hotel is located at Baga, one of the most popular destinations of north Goa and will feature 44 well-appointed rooms and suites, complemented by a multi-cuisine restaurant... The hotel, owned by Aqua Resorts And Spa Pvt. Ltd, is expected to be flagged and relaunched in April 2020," the company said in a filing. READ FILING HERE

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