The property shall be managed by Carnation Hotels, a wholly-owned subsidiary of the company and is expected to start its operations in FY 2028.
Lemon Tree Resort, Shirdi, Maharashtra, will feature 50 well-appointed rooms and a restaurant, a banquet hall, a meeting room, a swimming pool, a spa and other public areas.
Vilas Pawar, CEO—managed & franchise business, Lemon Tree Hotels, said, “We are delighted to expand our portfolio in Maharashtra, one of India's largest commercial and industrial hubs. By expanding in the state, we are not only tapping into a thriving economic hub but also embracing a place that beautifully balances modernity with tradition. This new addition will complement our 12 existing hotels and six 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 names Lemon Tree Hotel, Lemon Tree Premier, Red Fox Hotel, Aurika, Keys Select, Keys Prima, and Keys Lite.
The company’s consolidated net profit surged 76.53% to Rs 62.49 crore on 22.4% increase in revenue from operations to Rs 355.18 crore in Q3 FY25 over Q3 FY24.
Shares of Lemon Tree Hotels shed 0.04% to Rs 126.45 on the BSE.