Lemon Tree Hotels announced its latest signing Lemon Tree Hotel, Jamshedpur. The property is expected to be operational by September 2023 and shall be managed by Carnation Hotels Private Limited, a wholly-owned subsidiary and the management arm of Lemon Tree Hotels Limited.
Jamshedpur, founded by Jamshetji Tata, is home to the conglomerate's two major arms - Tata Steel and Tata Motors. It is Jharkhand's largest city and Central Jamshedpur has a vibrant financial and business district. Jamshedpur's private clubs offer activities like golf, tennis, squash, billiards, horse riding and water scootering. Jamshedpur Football Club is an Indian Super League professional football club, based in Jamshedpur, owned by Tata Steel. The city is well-connected to other parts of India through national and state highways.
This property will feature 42 well-appointed rooms, complemented by a multi-cuisine restaurant, a bar, a meeting room, a fitness center and banquets along with other public areas.
Speaking on the occasion, Mr. Mahesh Aiyer, CEO - Carnation Hotels Private Limited - commented, "A key economic and industrial hub, Jamshedpur, is a leading tier-II city with significant tourism and business potential. The signing of this hotel is in line with Lemon Tree Hotel's vision of strengthening our presence in key domestic markets and we are pleased to partner with Parikh Inn Pvt. Ltd. for the same. In keeping with our asset light growth strategy, we have consistently been growing in the management space and have already signed 4 hotels this month itself, and a total of 15 hotels this fiscal. We aspire to diversify our existing portfolio, not just in metros and tier I cities, but across tier II, III and IV cities and leisure destinations as well, by signing and opening more hotels to enhance our offerings to our guests as well as owners and partners in tourism and hospitality."
Shares of Lemon Tree Hotels Limited was last trading in BSE at Rs. 93.50 as compared to the previous close of Rs. 90.10. The total number of shares traded during the day was 539992 in over 4457 trades.
The stock hit an intraday high of Rs. 94.90 and intraday low of 88.50. The net turnover during the day was Rs. 50135184.00.