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Lemon Tree Hotel, Rajamundry will feature 60 well-appointed rooms, a restaurant, banquet, meeting rooms, swimming Pool, gym, and other public areas. The hotel is expected to be operational by Q3 of FY25.
Carnation Hotels, a wholly owned subsidiary and the hotel management arm of the company will be operating this hotel.
Lemon Tree Hotels is India's largest hotel chain in the mid-priced sector, and the third largest overall, on the basis of controlling interest in owned and leased rooms, as of 30 June 2017, according to the Horwath Report. It operates in the upscale segment and in the mid-market sector, consisting of the upper-midscale, midscale and economy segments.
On a consolidated basis, the company reported a net profit of Rs 43.97 crore in Q4 FY23 as against net loss of Rs 26.72 crore reported in Q4 FY22. Revenue from operations surged 111.39% year on year to Rs 252.68 crore in the quarter ended 31 March 2023.
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