Lemon Tree Hotels Stock Gains 2% On New Property In Mumbai
The property shall be managed by Carnation Hotels, a wholly-owned subsidiary of Lemon Tree Hotels and is expected to open in FY 2026
The stocks of Lemon Tree Hotels surged 2 per cent in the Wednesday trading session after the firm signed and added a new property in Mumbai.
Lemon Tree Hotels stock traded at Rs 132 with 1.3 per cent gain in the morning session on the National Stock Exchange (NSE).
“We would like to inform you that the company has signed a licence agreement viz Lemon Tree Hotel, Mira Road, Mumbai. The property shall be managed by Carnation Hotels, a wholly-owned subsidiary of Lemon Tree Hotels and is expected to open in FY 2026,” said the firm in an exchange filing.
This Hotel will feature 108 well-appointed rooms, a restaurant, a bar, a meeting room, a swimming pool and a spa, added the stock filing.
Lemon Tree Hotels highlighted that Mumbai, India's dynamic metropolis and financial epicentre, is celebrated for its rich cultural tapestry, iconic landmarks, and energetic pace of life. As a cultural melting pot, it attracts individuals from across India and around the globe, all driven by their aspirations.
The city is a major commercial hub with soaring skyscrapers and vibrant markets. Amidst this bustle, Mira Road stands out as a growing suburb that offers a mix of residential and commercial areas, complete with amenities like shopping malls, schools, and hospitals. While still developing, Mira Road is gaining popularity due to its connectivity to Mumbai and its relatively lower cost of living compared to the city centre.
"We are excited to share the expansion of our portfolio in Mumbai where we have five existing properties across upscale to midscale brands. This addition will complement our existing twelve hotels and two upcoming properties in Maharashtra,” Vilas Pawar, CEO Managed and Franchise Business, Lemon Tree Hotels.
Lemon Tree Hotel, Mira Road, Mumbai will feature 108 well-appointed rooms, a restaurant, a bar, a meeting room, a swimming pool and a spa. The Chhatrapati Shivaji Maharaj International Airport is about 31 kms from the property while Borivali railway station is 13 kms away. The hotel is also well connected by roadways for both public and private transport.
