Lemon Tree Hotels Ltd signs new property at Panthipiplai, Ujjain

Lemon Tree Hotels Limited, one of India's leading hospitality companies, today announced the signing of Keys Select by Lemon Tree Hotels, Panthpiplai, Ujjain in Madhya Pradesh. The property will be managed by Carnation Hotels Private Limited, a wholly owned subsidiary of Lemon Tree Hotels Limited.

This signing takes the group's portfolio in Madhya Pradesh to 15 properties, comprising three operational hotels and 12 upcoming properties, as it continues to strengthen its presence across the state's key commercial and pilgrimage markets.

Situated directly on the Indore-Ujjain Road, the property is strategically positioned to benefit from the economic strength of Indore, the state's commercial capital, alongside the strong appeal of Ujjain, one of India's most prominent spiritual destinations. The location offers the potential to serve a diverse mix of demand generated by the two cities.

The upcoming hotel will feature 51 well-appointed rooms, a restaurant, a banquet hall, meeting/conference hall, a swimming pool and fitness centre. This full-service midscale hotel will be well suited to the needs of travellers seeking convenient access between Indore and Ujjain.

Commenting on the signing, Mr. Vishvapreet Singh Cheema, President, Lemon Tree Hotels Ltd., said, "Panthpiplai presents a compelling opportunity, with Ujjain seeing significant investment in infrastructure and tourism, building on its long-standing importance as one of India's foremost spiritual destinations. Its proximity to Indore, a major commercial and industrial centre, further strengthens the location's potential. As a trusted midscale brand, Keys Select by Lemon Tree Hotels is well suited to this market, offering guests a dependable, comfortable and contemporary stay at the right value. With Simhastha 2028 further elevating Ujjain's profile and continued infrastructure development strengthening connectivity, we see strong potential for the hotel and the market in the years ahead."

The hotel location offers excellent road connectivity, linking efficiently to major regional transport hubs. Devi Ahilyabai Holkar Airport (Indore) is approximately 41 km from the property, while the Ujjain Junction Railway Station is located 18.5 km away.

Shares of Lemon Tree Hotels Limited was last trading in BSE at Rs. 109.30 as compared to the previous close of Rs. 110.20. The total number of shares traded during the day was 146264 in over 1848 trades.

The stock hit an intraday high of Rs. 110.60 and intraday low of 108.90. The net turnover during the day was Rs. 15998415.00.

Source : Equity Bulls

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