Introduction:
Prominent hospitality player has secured a Letter of Award for the redevelopment, operation, and maintenance of the Orchid Hotel in Shillong, Meghalaya. The hotel will feature 120 rooms and various amenities, aiming to enhance tourism infrastructure in the region.
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Share price movement of Lemon Tree Hotels:
On December 5, 2024, Lemon Tree Hotels Ltd opened at ₹134.35, up 0.79% from its previous close of ₹132.90. The stock reached a high of ₹134.70 (1.35%) and a low of ₹133.10. By 10:24 AM, it traded at ₹133.95, a 0.79% increase, with a market cap of ₹10,612.14 crore.
Lemon Tree secures Meghalaya hotel:
Lemon Tree Hotels Limited has received a Letter of Award (LoA) from the Government of Meghalaya’s Directorate of Tourism for the redevelopment, operation, and maintenance of the Orchid Hotel in Shillong, under a Public-Private Partnership.
The hotel, to be branded as Aurika, Shillong, will feature around 120 well-appointed rooms, a restaurant, bar, fitness center, spa, banquet facilities, and more. The hotel is expected to become operational within three years, bolstering the region’s tourism infrastructure.
Lemon Tree Hotels will designate a Special Purpose Vehicle (SPV) or a Joint Venture (JV), pending board approval, to execute the concession agreement with the government. The SPV will oversee the hotel’s development and operations, in accordance with the project’s provisions.
Recent news on Lemon Tree Hotels:
As of November 30, 2024, Lemon Tree Hotels announced two new properties: Keys Prima by Lemon Tree Hotels in Mussoorie (FY26) and Lemon Tree Hotel in Varanasi (FY28), both managed by its subsidiary, Carnation Hotels.
Stock performance of Lemon Tree Hotels for Period of 1 week, 6 months and 1 year:
Lemon Tree Hotels has shown positive performance with a 2.25% return over the past week. Despite a 6.56% decline over six months, the company has delivered an 11.9% return over the past year, reflecting steady growth.
Shareholding pattern of Lemon Tree Hotels:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 22.80% | 22.80% | 22.90% |
| FII | 21.80% | 28% | 27.10% |
| DII | 19% | 15% | 15.40% |
| Public | 36.50% | 34.30% | 34.60% |
| Others | 0.10% | 0.10% | 0.10% |
About Lemon Tree Hotels:
Lemon Tree (NSE: LEMONTREE) is India’s largest mid-priced hotel chain and third-largest overall. It operates in the upscale and mid-priced sectors, offering differentiated services across upper-midscale, midscale, and economy segments, delivering value-for-money offerings.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
