Lemon Tree Inks Agreement For A 65 Room Hotel In Ranchi

Lemon Tree Hotels Limited, one of India’s leading hospitality chains, has signed a license agreement to establish a new property in Ranchi, Jharkhand. The hotel, to be managed by Carnation Hotels Private Limited, a wholly-owned subsidiary of Lemon Tree Hotels, is expected to open in the financial year 2027.

Details About the New Property

The upcoming Lemon Tree Hotel in Ranchi will feature 65 well-appointed rooms. It will also include a restaurant, a rooftop bar, banquet halls, meeting rooms, a swimming pool, a fitness centre, and other public areas to cater to the various needs of business and leisure travellers. The property is strategically located approximately 5 kilometres from Birsa Munda Airport and 7 kilometres from Ranchi Junction. The location is well connected by public and private transportation networks, making it accessible for travellers.

Ranchi, the capital city of Jharkhand, is known for its scenic beauty, tribal heritage, and industrial significance. Located on the Chota Nagpur Plateau, the city is often referred to as the “City of Waterfalls” due to the presence of several waterfalls. Ranchi has emerged as an industrial hub with key industries including mining, mineral processing, heavy engineering, and forest-based industries.

Lemon Tree Hotels: A Snapshot

Lemon Tree Hotels Limited is recognized as one of India’s largest hotel chains. The group operates across various segments, including upscale, upper-midscale, midscale, and economy hotels, through its seven brands: Aurika Hotels & Resorts, Lemon Tree Premier, Lemon Tree Hotels, Red Fox by Lemon Tree Hotels, Keys Prima by Lemon Tree Hotels, Keys Select by Lemon Tree Hotels, and Keys Lite by Lemon Tree Hotels.

Since its first hotel launch in 2004 with 49 rooms, Lemon Tree Hotels has grown significantly. Currently, it manages a portfolio of over 200 hotels, including more than 110 operational properties and over 80 in the pipeline. The group operates in key metro cities like Delhi NCR, Mumbai, Bengaluru, Kolkata, Hyderabad, and Chennai, as well as Tier II and III cities. Its international presence includes properties in Dubai, Bhutan, and Nepal.

Lemon Tree Hotels Share Performance

As of December 13, 2024, 1:54 PM, the shares of Lemon Tree are trading at ₹147.80 per share with a surge of 0.80% from its previous day’s closing price. Over the last month, the stock has seen a surge of 25.12%. 

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.