Lemon Tree Hotels Expands with New Nashik Property

Lemon Tree Hotels has just signed a deal to open a new hotel in Nashik, Maharashtra. This property, set to launch in FY26, will be managed by Carnation Hotels Private Limited, a subsidiary of Lemon Tree Hotels.

Key Features & Location

The upcoming hotel will feature 57 well-appointed rooms and include amenities such as a restaurant, bar, banquet hall, meeting room, swimming pool, and spa. Located around 33 kilometers from Nashik Airport and 28 kilometers from the railway station, the hotel will be conveniently accessible. Its proximity to the renowned Sula Vineyards adds an extra appeal, particularly for wine enthusiasts.

Importance of Nashik

Nashik, situated on the banks of the River Godavari, is a city with a rich blend of spiritual and economic significance. Known for its sacred sites and hosting the Kumbh Mela every 12 years, Nashik also boasts the title of “Wine Capital of India,” with a huge portion of India’s vineyards. This combination of spiritual and wine tourism makes Nashik a  valuable location for Lemon Tree Hotels.

Financial Performance Insights

Lemon Tree Hotels is known for managing a diverse portfolio, including brands like Lemon Tree Premier, Red Fox Hotel, and Aurika. The company recently reported a 15.55% decline in consolidated net profit for Q1FY25, dropping to Rs.19.81 crore from Rs.23.46 crore in the previous year. Despite this, revenue from operations saw a healthy increase of 19.52%, reaching Rs.268.02 crore. Following the announcement, Lemon Tree Hotels’ stock saw a positive reaction in the market. Today, the shares traded up by 2.30% to Rs.132.39 on the NSE.

Conclusion: In conclusion the addition of the Nashik property brings out Lemon Tree Hotels’ strategy to grow in Maharashtra. By tapping into Nashik’s unique  wine tourism, the company aims to strengthen its market presence and attract a diverse range of guests.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.