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Lemon Tree Hotels Signs Agreement For New Property In Udaipur

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Synopsis:

Lemon Tree Hotels has signed an agreement for a new 54-room property in Udaipur, Rajasthan. The hotel, set to open in FY 2027, will be managed by Carnation Hotels, a subsidiary of Lemon Tree Hotels.

Lemon Tree Hotels news today

Lemon Tree Hotels Ltd announced the signing of a license agreement for a new 54-room hotel in Udaipur, Rajasthan. This property will be managed by Carnation Hotels Private Ltd, a wholly-owned subsidiary of Lemon Tree Hotels Ltd, and is expected to open in FY 2027. The addition of this property expands Lemon Tree’s presence in Rajasthan, where it already operates multiple hotels.

LEMON TREE HOTELS LTD

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147.731.06 (0.72 %)

Updated - 13 December 2024
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Details of the upcoming hotel

The upcoming Lemon Tree Hotel, Udaipur, will offer 54 well-appointed rooms, a restaurant, a bar, a meeting room, a swimming pool, and a fitness centre. The property is located approximately 18 km from the Maharana Pratap Airport and 9 km from Udaipur City Railway Station, making it easily accessible for travellers.

Udaipur, known as the “City of Lakes,” is a major tourist destination in Rajasthan, offering a rich blend of history, culture, and scenic beauty. The new hotel aims to attract both leisure and business travellers, capitalising on the city’s growing popularity.

Expansion of Lemon Tree Hotels in Rajasthan

This announcement comes as part of Lemon Tree Hotels' ongoing expansion strategy. The company currently operates nine properties in Rajasthan, with five additional hotels in the pipeline. This new hotel in Udaipur will complement its existing three operational properties in the city, further solidifying its footprint in the state’s hospitality market.

Previous agreements

In August 2024, Lemon Tree Hotels signed an agreement for a new hotel in Ayodhya, scheduled to open in FY 2028. The Ayodhya property will feature 80 rooms and include a restaurant, rooftop lounge, fitness centre, and banquet halls, further enhancing Lemon Tree Hotels’ presence across India.

With the signing of this agreement for a new hotel in Udaipur, Lemon Tree Hotels continues its strategic growth in key locations across India. The hospitality firm’s expanding portfolio in Rajasthan underscores its commitment to meeting the increasing demand for premium hospitality in the region. Investors will be closely monitoring the company’s performance, especially with the impact on the Lemon Tree Hotels' share price.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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