Hot Pursuit

Scrips, which has significant changes during the market hours.

Lemon Tree Hotels inks new property in Karnataka
09-Dec-23 12:27Hrs IST

The hotel is expected to be operational by financial year 2027. The company stated that, Carnation Hotels a wholly owned subsidiary and the hotel management arm of the company will be operating this hotel.

The hotel will feature 80 well appointed rooms, restaurants, meeting room, swimming pool, fitness center and other public areas. The hotel is also well connected by roadways for both public and private transport.

Mahesh Aiyer, CEO of Carnation Hotels (the management subsidiary of Lemon Tree Hotels), commented, ?Religious tourism is a rapidly growing segment and we, as a brand, are actively expanding in this segment. This opening will be in addition to our eight existing hotels and resorts in the state.?

Lemon Tree Hotels is engaged to carry out business of developing, owning, acquiring, renovating, operating, managing and promoting hotels, motels, resorts, restaurants, etc. under the brand name of Lemon Tree Hotel, Lemon Tree Premier, Red Fox Hotel, Aurika, Keys Select, Keys Prima and Keys Lite. Also, some of the Group companies provide project management services and learning & development services.

The company?s consolidated net profit jumped 35.1% to Rs 22.65 crore on 15.5% increase in net sales to Rs 227.20 crore in Q2 FY24 over Q2 FY23.

Shares of Lemon Tree Hotels ended 0.51% lower at Rs 117.70 on Friday, 8 December 2023.

Powered by Capital Market - Live News

Attention Investor :

"Prevent unauthorised transactions in your account ; Update your mobile numbers/email IDs with Us. Receive information of your transactions directly from Exchange on your mobile/email at the end of the day” - Issued in the interest of Investors"

"KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary."

"No need to issue cheques by investors while subscribing to Equity IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

A Muthoot M George Enterprise