Lemon Tree Hotels Limited (LTHL) share price climbs: The stock price of Lemon Tree Hotels Limited (LTHL) saw an increase of up to 2.82 percent, reaching its highest point of the day at Rs 134.45 per share on Wednesday, September 11, 2024.
The increase in Lemon Tree Hotels’ stock value happened following the news that the firm has acquired another property in Mumbai. Follow this link to get in touch with us on WhatsApp.
In a statement filed, the firm mentioned, “Lemon Tree Hotels has unveiled its newest agreement – the Lemon Tree Hotel, Mira Road, Mumbai. The establishment, slated to be operated by Carnation Hotels Private Limited, an entirely owned entity of Lemon Tree Hotels Limited, is anticipated to launch in Fiscal Year 2026.
The Lemon Tree Hotel, situated on Mira Road, provides 108 rooms that are fully furnished and feature various facilities such as a dining area, bar, conference room, pool, and spa. It is located just 31 kilometers from Chhatrapati Shivaji Maharaj International Airport and 13 kilometers from Borivali Railway Station, with great access to both road and rail transportation.
Mumbai, the dynamic economic and cultural heart of India, is celebrated for its energetic way of life, famous monuments, and varied cultural environment. The city, a key trading center, is known for its towering buildings and bustling markets.
On the other hand, Mira Road is a developing neighborhood that merges living areas with commercial districts. It offers facilities like shopping centers, educational institutions, and medical facilities, making Mira Road a growing destination because of its great access to Mumbai and its less expensive living expenses when compared to the central city area.
“We’re thrilled to announce the growth of our collection in Mumbai, boasting five current holdings spanning the spectrum from upscale to midscale markets,” announced Vilas Pawar, the President of the franchise and managed business at Lemon Tree Hotels. This new venture will enhance our current fleet of twelve hotels and prepare us for two more ventures in Maharashtra.”
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Lemon Tree Hotels stands as one of the biggest hotel groups in India, serving all income tiers from luxury to budget options. This organization is involved in the ownership, leasing, management, and operation of hotels, offering unique and superior services at competitive prices. Lemon Tree Hotels manages seven distinct brands aimed at pleasing a wide range of guest tastes, such as Aurika Hotels & Resorts, Lemon Tree Premier, Lemon Tree Hotels, Red Fox Hotels by Lemon Tree Hotels, Keys Prima by Lemon Tree Hotels, Keys Select by Lemon Tree Hotels, and Keys Lite by Lemon Tree Hotels.
Begun in May 2004, LTHL has swiftly grown its presence, starting with its first property with 49 rooms.
At present, the collection spans over 180 hotels, consisting of over 110 that are currently operational and over 70 that are set to launch in both India and around the world.
Lemon Tree Hotels are carefully situated in key urban centers including the NCR, Mumbai, Kolkata, Bengaluru, Hyderabad, and Chennai, as well as in a variety of high, medium, and lower-tier cities throughout India, like Pune, Ahmedabad, Chandigarh, Jaipur, Indore, Aurangabad, Udaipur, Visakhapatnam, Kochi, Ludhiana, Thiruvananthapuram, and Vijayawada. Globally,
The firm has grown its footprint through recent launches in Dubai (December 2019), Bhutan (February 2020), and Nepal (April 2024).
By midday, the stock prices of Lemon Tree Hotels had risen by 2.26 percent, reaching a value of Rs 133.70 per share. Meanwhile, the BSE Sensex was down by 0.09 percent, settling at 81,845.10 points.
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