Lemon Tree Hotels signs new hotel in Tamil Nadu

8 Sep 2022 , 02:34 PM

This hotel is expected to be operational by December 2023, and shall be managed by Carnation Hotels, a wholly-owned subsidiary and the management arm of Lemon Tree Hotels. Lemon Tree said that this property will feature 64 well-appointed rooms and suites, complemented by a restaurant, a bar and a meeting room. Mahesh Aiyer, CEO of Carnation Hotels said, We are delighted to expand our reach in Tamil Nadu with our valued partner, Hotel Le Jardin. This will be our sixth property in the state and will help us grow our footprint in a state famous for its tourism and business potential, which plays host to a large number of tourists and business travellers every year. We aspire to expand and diversify our existing portfolio by signing and opening more hotels to enlarge our offerings to our guests as well as owners and partners in the tourism and hospitality sector. Lemon Tree Hotels is Indias largest hotel chain in the mid-priced sector, 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. It operates in the upscale segment and in the mid-market sector, consisting of the upper-midscale, midscale and economy segments. On a consolidated basis, Lemon Tree Hotels reported net profit of Rs 13.85 crore in Q1 FY23 as against net loss of Rs 40.12 crore in Q1 FY22. Net sales jumped 355.6% YoY to Rs 192.04 crore in Q1 FY23. Shares of Lemon Tree Hotels rose 0.92% to Rs 76.90 on the BSE. Powered by Capital Market – Live News