Lemon Tree Hotels signs license agreement for 72-rooms property in Lucknow

19 Jul 2023 , 11:33 AM

Lemon Tree Hotels’ shares were up 1% at Rs 92.75 per share in early morning trade on July 19 after the business entered a licensing pact for a 72-room facility in Gomti Nagar, Lucknow.

At around 11.31 AM, Lemon Tree Hotels was trading 0.27% higher at Rs 92, against the previous close of Rs 91.75 on NSE.

Carnation Hotels Private Limited, the company’s wholly owned subsidiary and hotel management arm, will operate this resort, according to Lemon Tree Hotels. The hotel is scheduled to open in the third quarter of fiscal year 2026.

This hotel will have 72 luxurious rooms, meeting rooms, a banquet hall, a restaurant, a bar, a fitness center, and other public areas.

Earlier this month, the business secured a license agreement for a 48-room resort under the ‘Keys Select by Lemon Tree Hotels’ brand in Udaipur, Rajasthan. The hotel is scheduled to open in the fourth quarter of FY2024.

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