Lemon Tree Hotels Ltd announces termination of hotel operating and license agreement

The Hotel Operating Agreement executed between M/s. PRM Tirupati Pvt. Ltd. (Owner) & M/s. Carnation Hotels Pvt. Ltd. (Operator) dated March 18, 2024 and the License Agreement executed between the Company, the Operator and the Owner on the same date, for the hotel proposed under the brand name of "Lemon Tree Hotel" at Agartala, Tripura, have been mutually terminated by the parties today.

The said hotel was not yet operational, and accordingly, there is no financial impact on the Company arising from the termination of the aforesaid agreements.

Shares of Lemon Tree Hotels Limited was last trading in BSE at Rs. 113.90 as compared to the previous close of Rs. 109.50. The total number of shares traded during the day was 194805 in over 1824 trades.

The stock hit an intraday high of Rs. 114.85 and intraday low of 111.75. The net turnover during the day was Rs. 22150521.00.

Source : Equity Bulls

Keywords

LemonTreeHotels INE970X01018 HotelOperatingAgreement PRMTirupati Termination