Lemon Tree Hotels shares were down marginally in the early trade on October 8 despite the company signed a license agreement for a hotel in Udaipur, Rajasthan.
At 09:24am, Lemon Tree Hotels was quoting at Rs 113.45, down Rs 0.45, or 0.40 percent, on the BSE.
The company has signed a license agreement for Lemon Tree Hotel, Udaipur, Rajasthan, which shall be managed by subsidiary Carnation Hotels and is expected to open in FY 2027.
This hotel will feature 54 well-appointed rooms, a restaurant, a bar, a meeting room, a swimming pool, and a fitness center.
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In September, company signed a license agreement for a hotel at Sasan Gir, Gujarat, which is expected to open in FY 2026. The hotel will feature 74 well-appointed rooms, a restaurant, a meeting room, a banquet hall, a swimming pool, a spa and a fitness center.
In August, the company announced signed a new property in Ujjain, Madhya Pradesh, which is expected to open in FY27.
The share touched a 52-week high of Rs 158.05 and a 52-week low of Rs 100.75 on 06 May, 2024 and 26 October, 2023, respectively.
Currently, the stock is trading 27.93 percent below its 52-week high and 13.05 percent above its 52-week low.
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