Lemon Tree Hotels soars on launching hotel in Dwarka

Lemon Tree Hotels hit an upper circuit of 10% at Rs 29.35 after the announced its debut in the holy city of Dwarka with the launch of the 109 keyhotel.

Aug 12, 2020 04:08 IST capital market

In a BSE filing made during market hours today, the hotel chain operator said that the company, through its management subsidiary Carnation Hotels, announced its debut in Dwarka, Gujarat, with the launch of the 109 keyhotel -Lemon Tree Premier, Dwarka.

The property is strategically situated adjacent to the Iskon gate, which is just a kilometre from the Dwarkadhish Temple, it added.

The hotel caters to the requirements of both, leisure and pilgrim travellers with easy access to eminent attractions as it is located a couple of few minutes away from Dwarka railway station.

The hotel provides a customized pilgrim tour that includes the Dwarkadhish Temple, Nageshwar Jyothirlinga Temple, Byet Dwarka Temples, Rukmani Temple and Gopi Talav lake.

Lemon Tree Hotels (LTH) is the largest mid-priced hotel sector chain, and the third largest overall, on the basis of controlling interest in owned and leased rooms, as of 30 June 2017, according to the Horwath Report.

The company reported a consolidated net loss of Rs 41.87 crore in Q1 FY21 as against a net loss of Rs 1.67 crore in Q1 FY20. Net sales slumped 71.1% YoY to 40.67 crore during the quarter.

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