Shares of Lemon Tree Hotels Ltd were trading in the green and 2% higher on 27 February after the company announced signing an agreement for two properties in Andhra Pradesh and Rajasthan.

In its regulatory filing, the company said, “Lemon Tree Hotels has signed a licence agreement for Lemon Tree Resort in Sankhwas Garh, Rajasthan and Keys Lite by Lemon Tree Hotels, Vijayawada.”

Both the properties are expected to be completed by Fiscal Year 2026 and will be managed by a wholly-owned subsidiary and the management arm of the company, Carnation Hotels Private Limited.

The Lemon Tree Resort in Sankhwas Garh, Rajasthan, will have 51 rooms, a bar, a restaurant, meeting rooms, a banquet hall, a swimming pool, and other public amenities. The Keys Lite by Lemon Tree Hotels in Vijayawada will have 44 rooms, a restaurant, and a meeting room.

Earlier in February, the company signed a licence agreement for an upcoming hotel in Noida under the Lemon Tree Hotel brand and has also signed a licence agreement for a hotel in Marpalle in Telangana.

At 11:47 am, the shares of Lemon Tree Hotels were trading 0.50% higher at Rs 141.80 on NSE.