Lemon Tree Hotels stock hits a 52-week high after inking deal for properties in Bhubaneswar and Kasauli

The share of Lemon Tree Hotels hit a 52-week high of Rs 108.50 in early trading hours on Tuesday, a day after the hotel company announced that it had signed licence agreements for two properties in Bhubaneswar and Kasauli under the company’s brands, 'Lemon Tree Hotel' and 'Lemon Tree Mountain Resort', respectively.

In its BSE filing, Lemon Tree said that it would like to inform that Lemon Tree Hotel, Bhubaneswar, Odisha, will feature 60 well-appointed rooms, a restaurant, meeting rooms, a banquet hall, a swimming pool, a fitness centre, and other public areas, and was expected to be operational by Q4 of FY 2025.

The company informed that Lemon Tree Mountain Resort, Kasauli, Himachal Pradesh, will feature 50 well-appointed rooms and cottages, banquet halls, a recreation room, two restaurants, a swimming pool, a spa, fitness center, a library and other public areas and was expected to be operational by Q3 of FY2026.