Lemon Tree Hotels signs new property in Rajasthan

Incorporated in 1992, Lemon Tree Hotels Ltd. is a mid-cap company in the tourism and hospitality industry with a market capitalization of Rs. 9,033.99 crore. The primary revenue streams for Lemon Tree Hotels Ltd. for the fiscal year that ends on March 31, 2023, are revenue from rooms, restaurants, and other services.  The main operations of Lemon Tree Hotels are the development, ownership, acquisition, management, operation, renovation, and promotion of lodging facilities, resorts, restaurants, and the like under the brands Lemon Tree Hotel, Lemon Tree Premier, Red Fox Hotel, Aurika, Keys Select, Keys Prima, and Keys Lite. The company’s auditors are Deloitte Haskins & Sells LLP. The outstanding shares of the company as of June 30, 2024, are Rs. 79.22 crore.

Lemon Tree Hotels Ltd. new property in Udaipur, Rajasthan:

The Lemon Tree Hotel in Udaipur, Rajasthan, has signed a license agreement, according to a statement from Lemon Tree Hotels. The fully owned subsidiary of Lemon Tree Hotels, Carnation Hotels, will oversee the property upon its scheduled opening in FY 2027. This hotel will feature meeting spaces, a restaurant, a bar, a fitness center, and a swimming pool in addition to 54 luxurious rooms. The hotel is easily accessible by car and public transportation thanks to its excellent road connections.

In Rajasthan, where there are currently nine properties under development and five in the works, Lemon Tree Hotels’ CEO, Vilas Pawar, stated, “We are excited to announce the expansion of our portfolio.” This addition will be beneficial to the three properties we currently manage within the city.

Results for Lemon Tree Hotels Ltd.’s most recent quarter:

For the quarter ending June 30, 2024, the company reported a consolidated total income of Rs. 270.86 crore. This quarter’s total income of Rs. 224.61 crore is up 20.59% from the same quarter the previous year, but it is down 18.86% from the previous quarter’s total income of Rs 333.84 crore. After taxes, the company’s most recent quarter net profit was Rs. 20.00 crore. 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.

Lemon Tree Hotels Ltd. stock is 1% up today:

The stock of Lemon Tree Hotels Ltd. is currently trading at Rs. 115.43 per share, up nearly 1% in the intraday market today. The stock is gradually entering a correction mode, with a current trading price that is 15 rupees higher than the 52-week low.

Conclusion: Upon discovering that Udaipur, Rajasthan, is one of the most popular tourist destinations, Lemon Tree Hotels Ltd. is setting up a new hotel in Rajasthan.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.