Lemon Tree Hotels announces signing of new property in Bhuj

16 Dec 2024 , 09:11 AM

On Friday (December 13), Lemon Tree Hotels Ltd announced the signing of a new hotel in Bhuj, Gujarat. The forthcoming Lemon Tree Hotel will be administered by Carnation Hotels Private Limited, the company’s completely owned subsidiary.

The hotel is slated to open in fiscal year 2026, boosting Lemon Tree’s presence in Gujarat, according to a regulatory filing.

Lemon Tree Hotel in Bhuj, Gujarat, will have 74 well-appointed rooms, a restaurant, meeting rooms, a banquet hall, a swimming pool, a fitness center, and other common areas. The Bhuj Airport is around 9 kilometers distant, while the Bhuj Railway Station is about 4 kilometers from the property.

Bhuj, a historic city in Gujarat, is renowned for its rich cultural legacy and craftsmanship. It serves as the administrative center of the Kutch district and is home to sights such as the Aina Mahal and the surrounding Bhujodi hamlet, known for its handwoven textiles. 

“By increasing our reach throughout states and cities, we hope to become Lemon Tree Hotels the most preferred brand in many segments. This new hotel will join our seven existing and 12 future properties in the state,” said Vilas Pawar, CEO of Managed & Franchise Business, Lemon Tree Hotels.

Lemon Tree Hotels reported a 32.6% YoY increase in net profit to ₹35 Crore for the second quarter ended September 30, 2024, against a net profit of ₹26.4 Crore in the previous fiscal year, according to a regulatory filing. 

Revenue from operations climbed by 24% to ₹284.4 Crore, up from ₹229.4 Crore in the previous fiscal period. EBITDA increased by 25.6% to ₹130.8 Crore in the second quarter of this fiscal year, up from ₹104 Crore in the same period last year.

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