Lemon Tree gains 3.5% on signing a license agreement for hotel in Rajasthan

Lemon Tree gains 3.5% in Friday's trade Check out why {"selector":".custom-animation","duration":"4s","easing":"ease-in","keyframes":[{"transform":"translateY(10px)","opacity":1},{"transform":"translateY(5px)","opacity":0.7},{"transform":"translateX(0)"}]}

The share price of Lemon Tree Hotels surged 3.5% to rupees 79.30 apiece during Friday's trade. {"selector":".custom-animation","duration":"4s","easing":"ease-in","keyframes":[{"transform":"translateY(10px)","opacity":1},{"transform":"translateY(5px)","opacity":0.7},{"transform":"translateX(0)"}]}

This came after the company signed a license agreement for a 60-room property in Sri Ganganagar, Rajasthan. {"selector":".custom-animation","duration":"4s","easing":"ease-in","keyframes":[{"transform":"translateY(10px)","opacity":1},{"transform":"translateY(5px)","opacity":0.7},{"transform":"translateX(0)"}]}

With this, the stock has extended its rally to 5.87% from Monday's low. {"selector":".custom-animation","duration":"4s","easing":"ease-in","keyframes":[{"transform":"translateY(10px)","opacity":1},{"transform":"translateY(5px)","opacity":0.7},{"transform":"translateX(0)"}]}

The company expects the property to be operational by July 2026 {"selector":".custom-animation","duration":"4s","easing":"ease-in","keyframes":[{"transform":"translateY(10px)","opacity":1},{"transform":"translateY(5px)","opacity":0.7},{"transform":"translateX(0)"}]}

The company signed a license agreement for a 47-room property in Bhopal, Madhya Pradesh last month. {"selector":".custom-animation","duration":"4s","easing":"ease-in","keyframes":[{"transform":"translateY(10px)","opacity":1},{"transform":"translateY(5px)","opacity":0.7},{"transform":"translateX(0)"}]}

Lemon Tree Hotels is one of the largest hotel chains in India on the basis of controlling interest in owned and leased rooms. {"selector":".custom-animation","duration":"4s","easing":"ease-in","keyframes":[{"transform":"translateY(10px)","opacity":1},{"transform":"translateY(5px)","opacity":0.7},{"transform":"translateX(0)"}]}

The company currently operates 8,350 rooms in 87 hotels across 53 destinations, and is expecting the current pipeline to become operational by CY 2024/25 {"selector":".custom-animation","duration":"4s","easing":"ease-in","keyframes":[{"transform":"translateY(10px)","opacity":1},{"transform":"translateY(5px)","opacity":0.7},{"transform":"translateX(0)"}]}

Click here to know more about Uno Lemon Tree Hotels Check here for more market related stories. {"selector":".custom-animation","duration":"4s","easing":"ease-in","keyframes":[{"transform":"translateY(10px)","opacity":1},{"transform":"translateY(5px)","opacity":0.7},{"transform":"translateX(0)"}]}