Lemon Tree Hotels to Open New Property in Ujjain by FY27

29 Aug 2024 , 12:12 PM

Lemon Tree Hotels Ltd announced the opening of its upcoming property, Lemon Tree Hotel, Ujjain, Madhya Pradesh. The hotel is set to open in FY27 and will be managed by Carnation Hotels Private Ltd, a subsidiary of Lemon Tree Hotels.

Ujjain is a historic and spiritual city, home to the famous Mahakaleshwar Temple, attracting millions of pilgrims each year. Lemon Tree Hotel, Ujjain, will feature 72 rooms, a restaurant, a bar, a swimming pool, and other public facilities.

The hotel is located 50 km from Devi Ahilyabai Holkar International Airport, Indore, and 4 km from Ujjain Railway Station, with easy access to public and private transport.

Vilas Pawar, CEO of Managed & Franchise Business at Lemon Tree Hotels, highlighted the growing interest in spiritual destinations and the increasing number of pilgrims visiting such places.

This new hotel will join four existing and two upcoming Lemon Tree properties in Madhya Pradesh.

Lemon Tree Hotels is India’s largest hotel chain in the mid-priced sector, with 100 hotels and 9,700 rooms across 64 cities. Founded in 2002 by Patu Keswani, the company went public on April 9, 2018, and previously acquired Berggruen Hotels Private Limited in 2019.

At the time of writing, shares of Lemon Tree Hotels Ltd is trading at ₹133 which is a 0.87% gain than the previous close. Lemon Tree Hotels Ltd has witnessed a 29% gain since the beginning of the year, and 12% gain since the beginning of the year.