Lemon Tree Hotels share price will be in focus on June 8 after the hotel chain signed a licence agreement for a 60-room property in Andhra Pradesh.
The property in Rajamundry, which will operate under the Lemon Tree Hotel brand, is expected to be in business by the third quarter of FY25. Carnation Hotels Private Limited, a wholly owned subsidiary and the hotel management arm of the company, will operate the hotel, which will have 60 rooms, a restaurant, banquet, meeting rooms, swimming pool, gym and other public areas, the company said.
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Earlier this month, Lemon Tree announced the opening of Lemon Tree Hotels in Agra and Bhopal.
On June 7, the share closed at Rs 92.93, down Rs 0.36, or 0.39 percent, on the BSE.
The share touched a 52-week high of Rs 103.30 on December 1, 2022 and a 52-week low of Rs 58.30 on June 20. It is trading 10.04 percent below its 52-week high and 59.4 percent above its 52-week low.
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