The company has signed a licence agreement for a 47 room hotel at Jaipur, Rajasthan under its brand Keys Lite by Lemon Tree Hotels. The hotel is expected to be operational by December 2022.

The property is owned by T.F. Enterprises, and shall be operated through Carnation Hotels, a subsidiary and management arm of Lemon Tree Hotels.

Mahesh Aiyer, CEO of Carnation Hotels commented, “We are honoured as we grow our portfolio in Rajasthan with our valued partner M/s T.F. Enterprises. This would be our seventh hotel in the state, which we feel holds immense business and tourism potential. Jaipur is a popular destination for both Indian and foreign travellers, and with our widespread reach across the state with different brand segments, we feel that our guests would be delighted.”

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, as of 30 June 2017.

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 Q3FY22 over Q3 FY21.

Shares of Lemon Tree Hotels were trading 1.72% lower to Rs 62.90 on BSE.