Friday, August 30, 2024 Lemon Tree Hotels is expanding its footprint with the introduction of a new property in Ayodhya, Uttar Pradesh. Lemon Tree Hotels has announced a new addition to its portfolio with the signing of a license agreement for Lemon Tree Hotels, Ayodhya, Uttar Pradesh. Set to open in FY 2026, this new property will be managed by Carnation Hotels, a fully owned subsidiary of Lemon Tree Hotels.
The hotel will feature 72 stylishly furnished rooms and a comprehensive array of amenities, including a restaurant, a rooftop bar, two banquet halls, meeting rooms, a fitness center, and a swimming pool. Vilas Pawar, CEO of Managed & Franchise Business at Lemon Tree Hotels, expressed enthusiasm about the new venture, stating, “We are excited to announce the signing of our eighth property in Ayodhya, a renowned pilgrimage site. This new hotel will be our second in Ayodhya, complementing our existing portfolio of seven operational and seven upcoming hotels in Uttar Pradesh.
” Lemon Tree Hotels is engaged in developing, owning, acquiring, operating, managing, renovating, and promoting various hospitality properties under brands such as Lemon Tree Hotel, Lemon Tree Premier, Red Fox Hotel, Aurika, Keys Select, Keys Prima, and Keys Lite. In its latest financial update, the company reported a 15.55% decrease in consolidated net profit to Rs 19.
81 crore for Q1 FY25, compared to Rs 23.46 crore in Q1 FY24. Despite this decline in net profit, revenue from operations increased by 19.
52% year on year, reaching Rs 268.02 crore in Q1 FY25..
