The property shall be managed by Carnation Hotels, a wholly-owned subsidiary of Lemon Tree Hotels and is expected to open in FY 2026.
Lemon Tree Hotel, Sasan Gir, Gujarat, will feature 74 well-appointed rooms, a restaurant, a meeting room, a banquet hall, a swimming pool, a spa, and a fitness center.
Vilas Pawar, CEO, managed & franchise business, Lemon Tree Hotels said, “We are excited to share the expansion of our portfolio in Gujarat, where we currently have seven existing properties. This addition will complement our ten upcoming properties in the state.”
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.
The scrip shed 0.45% to ends at Rs 121.95 on Thursday, 26 September 2024.