Shares of Lemon Tree Hotels Ltd. are trading flat after reaching a day’s high of Rs 135.40 on 27th August, following the company’s announcement on Monday about a new property agreement in Ayodhya.

The Lemon Tree Hotel, located at Civil Lines, Ayodhya, is anticipated to commence operations in FY28 and will be run by Carnation Hotels Pvt. Ltd., which is a fully-owned affiliate of Lemon Tree Hotels Ltd.

The company, in a stock exchange filing, said it has signed a license agreement for Lemon Tree Hotel, Civil Lines, Ayodhya. It would be managed by Carnation Hotels Private Limited, a wholly-owned subsidiary of Lemon Tree Hotels, and is expected to open in FY 2028.

The hotel will feature 80 rooms, a restaurant, a bar on the roof, a pool, a gym, banquet halls, and other areas open to everyone.

Many worldwide pilgrims are expected to visit the new Ram temple in Ayodhya.

From the hotel, Maharshi Valmiki International Airport Ayodhya Dham is at a distance of approximately 5.6 km, whereas the railway station lies about 7.3 km away. This hotel will be well connected by road for both public and private transport.

Vilas Pawar, CEO of Managed & Franchise Business, noted that spiritual destinations are increasingly popular, and Ayodhya is a top choice for pilgrims.

With this new acquisition, there are now eight present hotels and six future ones in the state.

At 10:33 AM, the shares of Lemon Tree Hotels were trading 0.59% higher at Rs 133.74 on NSE.

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