Shares of Lemon Tree Hotels Ltd. rose by 1%, reaching a day’s high of Rs 135.20 on 3rd September, after the company announced the signing of its latest property, the Lemon Tree Hotel in Gir, Gujarat.

It will be operated by Carnation Hotels Private Ltd, which is a wholly-owned subsidiary of Lemon Tree Hotels Ltd. The new property is expected to open by FY 2030 and will further build Lemon Tree’s presence in Gujarat, strengthening its portfolio in the ‘wild life’ and ‘nature’ destinations.

“We would like to inform you that the company has signed a licence agreement for Lemon Tree Hotel, Gir, Gujarat. The property will be managed by Carnation Hotels Private Limited, a wholly-owned subsidiary of Lemon Tree Hotels Limited, and is expected to open in FY 2030,” according to a stock exchange filing.

Lemon Tree Hotel, Gir, Gujarat, will have 80 rooms, a restaurant, a banquet hall, a meeting room, a swimming pool, and a spa. The property is 167 km from Rajkot Airport, 60 km from Junagadh Railway Station, and 34 km from Somnath Railway Station.

Vilas Pawar, CEO of Managed & Franchise Business at Lemon Tree Hotels, said, “We are excited to bring our unique blend of comfort and local charm to Gujarat. With seven operational and ten upcoming properties, this new venture strengthens our portfolio, offering exceptional hospitality to wildlife enthusiasts.”

At 10:19 AM, the shares of Lemon Tree Hotels were trading 1.14% higher at Rs 134.03 on NSE.

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