Lemon Tree Hotels announces execution of HOA for a new property in Uttar Pradesh

Lemon Tree Hotels announces execution of Hotel Operation Agreement ('HOA') in respect of upcoming hotel - at Greater Noida, Uttar Pradesh by Carnation Hotels Private Limited, a wholly subsidiary of Lemon Tree Hotels Limited. Carnations Hotels Private Limited shall operate the hotel under brand name "Lemon Tree Suites" subject to execution of licence agreement by Lemon Tree Hotels Limited.

Lemon Tree Suites, Greater Noida, Uttar Pradesh will feature 336 well-appointed suites, restaurants, a bar, a banquet, a swimming pool, a spa, a fitness center and other public areas. Indira Gandhi International Airport, New Delhi is approx. 39 kms away from the property. Ghaziabad Railway Station is approx. 13 kms from the property. It is also well-connected by road, offering easy access to both public and private transport.

Greater Noida is a rapidly growing, well-designed city in Uttar Pradesh, which constitutes a major component of the National Capital Region (NCR). Famous for its broad roads, parks, and state-of-the-art infrastructure, the city has also emerged as a major educational, real estate, and industrial hub, with top institutions and multinationals setting up there. With great connectivity through expressways, future extensions of the metro, and the Noida International Airport in the pipeline, Greater Noida is fast becoming a strategic location for residence and investment alike.


Speaking on the occasion, Mr. Vilas Pawar, CEO - Managed & Franchise Business, Lemon Tree Hotels commented, "We are delighted to announce the expansion of our portfolio in Uttar Pradesh. Lemon Tree Hotels is expanding its presence across the countries in cities across all tiers to become the most preferred hospitality chain across different segments. This opening will be in addition to our seven existing and 10 upcoming hotels in Uttar Pradesh."

Shares of Lemon Tree Hotels Limited was last trading in BSE at Rs. 133.90 as compared to the previous close of Rs. 133.45. The total number of shares traded during the day was 130175 in over 2206 trades.

The stock hit an intraday high of Rs. 136.00 and intraday low of 132.55. The net turnover during the day was Rs. 17438484.00.

Source : Equity Bulls

Keywords

LemonTreeHotels INE970X01018 HotelOperationAgreement NewHotel GreaterNoida UP