Hospitality chain Lemon Tree Hotels Ltd has signed agreements for two new properties — Lemon Tree Hotel, Surat Airport and Keys Prima by Lemon Tree Hotels, Haridwar. The Surat property will be managed by its subsidiary Carnation Hotels, while the Haridwar hotel will operate under a franchise model, strengthening its nationwide presence.
Lemon Tree Hotels Ltd has announced the signing of two new properties, further expanding its portfolio across India. The company confirmed a license agreement for Lemon Tree Hotel, Surat Airport and a franchise agreement for Keys Prima by Lemon Tree Hotels, Haridwar, Uttarakhand.
The Surat Airport property will feature 110 well-appointed rooms, a restaurant, banquet and meeting facilities, a swimming pool, spa, and other public amenities. Located just 1.6 km from Surat International Airport, the hotel is expected to cater to both business and leisure travelers.
Meanwhile, the Haridwar property will add to Lemon Tree’s growing presence in Uttarakhand, offering guests convenient access to one of India’s most important pilgrimage destinations.
Shares of Lemon Tree Hotels rose nearly 4% on the BSE following the announcement, reflecting investor confidence in the company’s expansion strategy.
Key Highlights / Major Takeaways
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New Properties: Surat Airport (license agreement) and Haridwar (franchise agreement).
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Surat Hotel: 110 rooms, restaurant, banquet halls, spa, and pool.
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Management: Surat property managed by Carnation Hotels; Haridwar under franchise.
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Strategic Expansion: Strengthens presence in Gujarat and Uttarakhand.
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Market Reaction: Shares rose ~4% post-announcement.
Sources: CNBC-TV18 , Business Standard