|
| Exchange Received Time 06/06/2018 16:23:33 Exchange Disseminated Time 06/06/2018 16:23:40 Time Taken 00:00:07 | With reference to the captioned subject, we would like to inform that the Company has signed a License Agreement for a 104 room property at Gwalior, Madhya Pradesh under the Company's brand 'Lemon Tree Hotel'. The Hotel is expected to be operational by June, 2020.
Carnation Hotel Private Limited, the hotel management arm of the Company will be operating and marketing this Hotel.
About Lemon Tree Hotels
Lemon Tree Hotels (LTH) is the largest mid-priced hotel sector chain, and the third largest overall, on the basis of controlling interest in owned and leased rooms, as of June 30, 2017, according to the Horwath Report. LTH operates in the mid-priced hotel sector, consisting of the upper midscale, midscale and economy hotel segments and seeks to cater to Indian middle class guests and deliver differentiated yet superior service offerings, with a value-for-money proposition.
LTH opened its first hotel with 49 rooms in May 2004 and plans to operate 78 hotels with 8,187 rooms, across 54 cities by FY2021.
Lemon Tree hotels are located across India, in metro regions, including the NCR, Bengaluru, Hyderabad and Chennai, as well as tier I and tier II cities such as Pune, Ahmedabad, Chandigarh, Jaipur, Indore and Aurangabad. New hotels will open shortly in Mumbai, Pune, Kolkata and Udaipur.
Please take the above intimation on record and kindly acknowledge.
|
|
|