Lemon Tree Hotels’ share price saw an uptick in early trading on August 27, following the company’s announcement of a new license agreement for a hotel in Civil Lines, Ayodhya. At 09:27 AM, the stock was trading at Rs 134.00, up Rs 1.10, or 0.83 percent, on the Bombay Stock Exchange (BSE).
The upcoming property will be operated by Lemon Tree’s wholly-owned subsidiary Carnation Hotels and is expected to open in Fiscal Year 2028. The hotel shall have 80 rooms, including a restaurant, a rooftop lounge bar, a swimming pool, a fitness center, banquet halls, and other facilities.
Slated to open in March, spiritual destinations have seen a marked increase in tourist inflow over the past few years, and Ayodhya figures on top of the ‘to-see’ list of pilgrims.
The city holds immense spiritual and cultural significance in Uttar Pradesh, and we are thrilled to declare this expansion in the city,” said Vilas Pawar, CEO – Managed & Franchise Business, Lemon Tree Hotels. This hotel will be in addition to the existing seven hotels operated by the company and six under development in Uttar Pradesh. The development has created a positive movement in the company’s stock, since investors believe in such strategic expansion into spiritually important locations like Ayodhya.
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Source: Moneycontrol
News Desk
