Shares of Lemon Tree Hotels Limited (LTHL) saw a 2.79% increase on Wednesday, 11 September and reached an intraday high of Rs 134.39 per share. 

The share price of Lemon Tree Hotels surged after the firm announced that it had signed a new property in Mumbai.

In an exchange filing, the company said, “Lemon Tree Hotels announced its latest signing – Lemon Tree Hotel, Mira Road, Mumbai. The property, which shall be managed by Carnation Hotels Private Limited, a wholly-owned subsidiary of Lemon Tree Hotels Limited, is expected to open in FY2026.”

According to the company’s statement, Lemon Tree Hotel, Mira Road, will have 108 well-equipped rooms and an array of facilities such as a restaurant, bar, meeting space, swimming pool, and spa. With great road access for both public and private transportation, it is ideally situated approximately 13 kilometres from Borivali Railway Station and 31 kilometres from Chhatrapati Shivaji Maharaj International Airport.

Mumbai, the thriving financial and cultural centre of India, is well-known for its colourful way of life, well-known sites, and varied cultural environment. The city, a significant hub for commerce, is distinguished by its striking buildings and bustling marketplaces.

But Mira Road is a rising neighbourhood that combines commercial and residential elements. Because it’s cheaper to live in than the city centre and easier to access Mumbai from, Mira Road—which contains amenities like schools, hospitals, and shopping malls—is becoming more and more popular.

Vilas Pawar, CEO of the managed and franchised Lemon Tree Hotels, said, “We are excited to share the expansion of our portfolio in Mumbai, where we have five existing properties across upscale to midscale brands. This addition will complement our existing twelve hotels and two upcoming properties in Maharashtra.”

Lemon Tree Hotels can be found strategically in many tiers I, II, and III cities across India, such as Chandigarh, Pune, Ahmedabad, Jaipur, Indore, Aurangabad, Udaipur, Visakhapatnam, Kochi, Ludhiana, Thiruvananthapuram, and Vijayawada. Major metro areas like NCR, Mumbai, Kolkata, Bengaluru, Hyderabad, and Chennai are also home to Lemon Tree Hotels. 

The company has recently opened locations in Bhutan (February 2020), Nepal (April 2024), and Dubai (December 2019), further increasing its global footprint.

At 1:39 pm, the shares of Lemon Tree Hotels were trading 0.42% higher at Rs 131.29 on NSE.

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