Lemon Tree Hotels gains nearly 3% on licence agreement for new property in Shimla
The hotel is expected to be operational in the first quarter of 2026. Lemon Tree Hotels already has two operational hotels and four upcoming ones in Himachal Pradesh.
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11:42 AM IST
Shares of Lemon Tree Hotels jumped nearly 3 per cent in morning trade on Thursday, September 7, after the company announced signing its latest licence agreement for a new property in Shimla, Himachal Pradesh.
The stock surged 2.17 per cent on the NSE to reach a high of Rs 110.85 apiece. On BSE, the shares jumped 2.81 per cent to hit a high of Rs 111.55 apiece in morning trade on Thursday.
In a filing to the stock exchanges on Wednesday, the hotel chain operator said that it has signed a licence agreement with a new 48-room property located in Mashobra, Shimla. The property will be managed by Carnation Hotels Private Limited, a wholly owned subsidiary of Lemon Tree Hotels. The new hotel is expected to be operational by the first quarter of 2026.
The licence agreement has been signed with Alyvia Hospitality Management Services, the hospitality major informed bourses.
Lemon Tree Hotels already has two operational hotels and four upcoming ones in Himachal Pradesh.
The property in Mashoba will feature 48 rooms, a bar, banquet hall, restaurant, a swimming pool, meeting rooms and other public areas. The hotel is well connected to railway stations and public transport, the company said.
Lemon Tree Hotels recent deals
Earlier, this week Lemon Tree Hotels signed another license agreement for an 80-room property in Dehradun, Uttarakhand. A part of the hotel’s “Lemon Tree Premier” brand, the property is expected to be operational in 2025. Carnation Hotels Private Limited will be in charge of the operations.
The share of Lemon Tree Hotels reached a 52-week high of Rs 108.50 in early trading on August 22, a day after it announced it had signed license agreements for two properties in Kasauli and Bhubaneswar. The property in Kasauli was signed under the brand 'Lemon Tree Mountain Resort'. The Kasauli resort is expected to be operational by Q3 of FY2026. It will have 50-well-appointed rooms and cottages, a recreation room, banquet halls, two restaurants, a spa, a swimming pool, a library, fitness centre, and other public areas.
The Bhubaneswar hotel will be open by Q4 of FY2025 and will have 60 well-appointed rooms, meeting rooms, a banquet hall, a restaurant, a fitness centre, a swimming pool, and other public areas.
Lemon Tree Hotels Q1 result
Lemon Tree reported net revenue of Rs 74.75 crore in the June quarter compared to Rs 65.36 crore in the year ago quarter. The net profit of the hotel chain doubled to Rs 27.5 crore compared to the year-ago period.
Shares of Lemon Tree Hotels were trading 1.98 per cent higher at Rs 110.65 apiece on BSE at 11AM .
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