Lemon Tree Hotels share price rose in the opening trade on August 27 following the announcement of a new license agreement for a property in Civil Lines in Ayodhya.
At 09:27am, Lemon Tree Hotels was quoting at Rs 134, up Rs 1.1, or 0.83 percent, on the BSE.
The property, managed by the company's wholly-owned subsidiary Carnation Hotels, is slated to open in FY28 and will feature 80 rooms, a restaurant, a rooftop lounge bar, a swimming pool, a fitness center, banquet halls, and other amenities.
“In recent years, spiritual destinations have seen a marked uptick in the number of visitors and Ayodhya features high on the must-visit list for pilgrims. The city holds immense spiritual and cultural significance in Uttar Pradesh and we are thrilled to expand our presence in the city. This opening will be in addition to our seven existing and six upcoming hotels in the state," said Vilas Pawar, CEO - managed & franchise business, Lemon Tree Hotels.
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In addition to the Ayodhya project, Lemon Tree Hotels recently signed a license agreement with its upscale brand Aurika Hotels & Resorts for a property in Surat, Gujarat.
This hotel, expected to open in FY 2030, will feature 175 rooms and suites, an all-day dining restaurant, banquet facilities, a swimming pool, and a spa.
Earlier this month, the company also secured a new property in Varanasi, Uttar Pradesh, expected to open in FY 2028, and announced the opening of the Lemon Tree Hotel in Noida.
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