MoneyWorks4Me

Lemon Tree Hotels gets nod to pick up 25.10% shareholding of Carnation Hotels

28 Apr 2022 Evaluate

Lemon Tree Hotels has received approval from Finance Committee of Board of Directors to acquire 25.10% shareholding of Carnation Hotels from Rattan Keswani. Post consummation of the transaction, Carnation Hotels will become wholly owned subsidiary of the company. The acquisition is expected to be completed within 15 days.

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.

Peers
Company Name CMP
The Indian Hotels Co 744.60
ITC Hotels 155.95
Mahindra Holi.&Resor 200.45
EIH 309.30
Chalet Hotels 859.70
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