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Shares of Lemon Tree Hotels Ltd ended at ₹111.90, down by ₹3.50, or 3.23%, on the BSE.
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Hospitality chain Lemon Tree Hotels Ltd on Thursday (June 18) announced the signing of two new properties in Maharashtra — Lemon Tree Resort, Tadgaon and Lemon Tree Resort, Igatpuri — adding 200 keys to its development pipeline.
With the latest additions, the company’s portfolio in Maharashtra will expand to 32 properties, comprising 15 operational hotels and 17 properties under development, including the two newly signed resorts. Both properties will be managed by Carnation Hotels Private Ltd, a wholly owned subsidiary of Lemon Tree Hotels.
Lemon Tree Resort, Tadgaon will feature 110 rooms along with a restaurant, banquet hall, meeting and conference facilities, swimming pool, spa and fitness centre. The property is located about 75 km from Navi Mumbai Airport and 100 km from Mumbai Central Railway Station.
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Lemon Tree Resort, Igatpuri will offer 90 rooms and include a restaurant, banquet hall, meeting and conference facilities, swimming pool, spa and fitness centre. The resort is located around 134 km from Mumbai Airport and 5.6 km from Igatpuri Railway Station.
The company said the two signings are part of its focus on emerging leisure and corporate travel destinations within driving distance of Mumbai, Navi Mumbai, Thane and Pune.
Vishvapreet Singh Cheema, President, Lemon Tree Hotels Ltd, said, "Our expansion strategy with resorts in Tadgaon and Igatpuri in Maharashtra is deeply aligned with the evolving dynamics of the drive-to hospitality sector. Urban travellers and corporate houses are increasingly prioritising accessible, high-amenity destinations that don't require complex logistics.
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By introducing the Lemon Tree Resort brand to these two distinct, premium micro-markets, we are uniquely positioned to capture a highly lucrative mix of weekend leisure, multi-generational travel, and mid-to-high-level corporate retreats."
Shares of Lemon Tree Hotels Ltd ended at ₹111.90, down by ₹3.50, or 3.23%, on the BSE.
(Edited by : Jomy Jos Pullokaran)
