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The company's new hotel is owned by M/s Omni Pacific Colonisers and it is expected to be open in November 2025.
The hotel is located in the Mohali region, and features 60 well-appointed rooms. It is managed by Carnation Hotels, a subsidiary and the hotel management arm of the company will be operating and marketing this hotel.
Vikramjit Singh, President of Lemon Tree Hotels, commented, “We are delighted to expand our reach in Punjab with our valued partner M/s Omni Pacific Colonisers. This state holds immense business and tourism potential, and is a preferred destination for both business and leisure travellers. With our widespread reach, we feel that this hotel will add value to our customers.
On a consolidated basis, Lemon Tree Hotels reported a net loss of Rs 5.22 crore in Q3 2021 as compared with a net loss of Rs 45.73 crore in Q3 2020. Net sales surged 110.1% to Rs 143.65 crore in Q3 2021 over Q3 2020.
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