Lemon Tree Hotels has signed a license agreement for upcoming hotel in Coimbatore, Tamil Nadu under the company's brand, Keys Lite by Lemon Tree Hotels.
The upcoming property will be managed by Carnation Hotels Private, a wholly-owned subsidiary and the hotel management arm of the company.The hotel will feature 40 well-appointed rooms, a restaurant and a meeting room. It is expected to open in FY26. The hotel is connected by both public and private transport from all major cities in India.
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 companys consolidated net profit declined 11.43% to Rs 35.40 crore despite of 23.60% increase in revenue from operations to Rs 288.69 crore in Q3 FY24 over Q3 FY23.
The counter remained unchanged at Rs 139.35 on Thursday, 7 March 2024. The stock market was shut on Friday, 8 March 2024, on account of Mahashivratri.
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