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Lemon Tree Hotels signs license agreement for hotel in West Bengal

17 Sep 2019 Evaluate

Lemon Tree Hotels (LTH) has signed a license agreement for 80 room hotel, at the Sujalaam Skycity, Andal, Durgapur in the state of West Bengal near the Kazi Nazrul Islam (KNI) airport, under the Company's brand ‘Lemon Tree Hotel’. The Hotel is expected to be operational by January, 2023.

Carnation Hotels, the hotel management arm of the Company will be operating and marketing this hotel and the Hotel is proposed to have banquet facilities, gym, spa, swimming pool, bar and All-Day-Diner.

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 742.10
ITC Hotels 161.40
Mahindra Holi.&Resor 201.95
EIH 301.20
Chalet Hotels 902.60
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