The property shall be managed by Carnation Hotels, a wholly owned subsidiary of Lemon Tree Hotels and is expected to open in FY 2026.
This hotel will feature 117 well-appointed rooms, a restaurant, a bar, a meeting room, banquet facilities, a
swimming pool and a spa. The hotel is well connected by roadways for both public and private transport.
Vilas Pawar, CEO-managed & franchise business, Lemon Tree Hotels, said, “We are excited to share the expansion of our portfolio in Pune where we have four existing properties across upscale to midscale brands. This addition will complement our existing twelve hotels and three upcoming properties in Maharashtra.”
Lemon Tree Hotels its principal activities are to carry out the business of developing, owning, acquiring, operating, managing, renovating, and promoting hotels, motels, resorts, restaurants, etc. under the brand name of Lemon Tree Hotel, Lemon Tree Premier, Red Fox Hotel, Aurika, Keys Select, Keys Prima and Keys Lite.
The company reported a 15.55% fall in consolidated net profit to Rs 19.81 crore in Q1 FY25 as compared to Rs 23.46 crore posted in Q1 FY24. However, revenue from operations jumped 19.52% year on year (YoY) to Rs 268.02 crore in Q1 FY25.
Shares of Lemon Tree Hotels shed 0.38% to end at Rs 130.25 on Wednesday, 12 September 2024.