Lemon Tree jumps on signing new hotel in Assam

31 May 2022 , 10:09 AM

Lemon Tree Hotels has signed a license agreement for a 40 room hotel at Chirang, Assam under the companys brand Keys Select, by Lemon Tree Hotels. Located in Kajalgaon Town, Chapaguri II, this property will feature 40 well-appointed rooms, complemented by a multi-cuisine restaurant and a bar. It will also have a conference room and a fitness center for recreation. The property will be managed by Carnation Hotels, a subsidiary and management arm of Lemon Tree Hotels. This greenfield project is expected to open in June 2026. Chirang, a new district in Assam, is home to Manas National Park, a UNESCO Natural World Heritage Site. Located in the Himalayan foothills, it is known for its rare and endangered endemic wildlife. Borjhar Airport in Guwahati is the closest air connectivity link and the district has several railway junctions in the vicinity. Vikramjit Singh, president – Lemon Tree Hotels said, The state holds immense business and tourism potential as it is a preferred destination for both business and leisure travellers. Our next phase of growth would be driven by strategic, brand-defining hotel signings and openings that will provide a major uplift to our existing hotel portfolio and broaden our offerings for guests and owners. 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 loss of Rs 24.62 crore in Q4 March 2022 as against net loss of Rs 16.82 crore in Q4 March 2021. Net sales rose 25.73% to Rs 119.54 crore in Q4 March 2022 over Q4 March 2021. Powered by Capital Market – Live News