27 Sep 2024

Lemon Tree Hotels Sees Stock Rise After New Property Signing in Gujarat

Lemon Tree Hotels' stock is currently trading at Rs. 123.35, up by 1.40 points or 1.15% from its previous close of Rs. 121.95 on the BSE.

The stock opened at Rs. 122.20 and reached a high of Rs. 123.35 and a low of Rs. 121.55. A total of 63,307 shares have been traded so far.

This group 'A' stock, with a face value of Rs. 10, hit its 52-week high of Rs. 158.05 on May 6, 2024, and its 52-week low of Rs. 100.75 on October 26, 2023.

Over the past week, the stock's high and low were Rs. 127.30 and Rs. 121.50, respectively. The company's current market capitalization is Rs. 9701.06 crore.

Promoters hold 22.80% of the company's shares, while institutions own 42.81% and non-institutional investors hold 34.39%.

Lemon Tree Hotels has signed a new property in Sasan Gir, Gujarat, which will be managed by its subsidiary Carnation Hotels. The hotel, expected to open in FY 2026, will feature 74 rooms, a restaurant, meeting room, banquet hall, swimming pool, spa, and fitness center.

Located about 60 km from Keshod Airport, 100 km from Diu Airport, and 180 km from Hirasar Rajkot International Airport, the property is also well-connected to Junagadh and Veraval railway stations. Both public and private transport options are available, ensuring easy access.

Lemon Tree Hotels is India's largest hotel chain in the mid-priced segment and ranks third overall in terms of ownership and leased room capacity.