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Lemon Tree Hotels signs license agreement for property in Andhra Pradesh

10 Jan 2019 Evaluate

Lemon Tree Hotels has signed a License Agreement for a 50 room resort property located at Dindi, East Godavari Dist., Andhra Pradesh under the company’s brand ‘Lemon Tree Premier’. The Hotel is expected to be operational by March, 2021. Carnation Hotels, the hotel management arm of the company will be operating and marketing this hotel.

Lemon Tree Hotels is India’s largest hotel chain in the mid-priced hotel sector, and the third largest overall, on the basis of controlling interest in owned and leased rooms, as of June 30, 2017.

Peers
Company Name CMP
The Indian Hotels Co 743.00
ITC Hotels 161.35
Mahindra Holi.&Resor 201.65
EIH 301.55
Chalet Hotels 883.00
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