Both the properties will be managed by Carnation Hotels, a wholly-owned subsidiary and the management arm of Lemon Tree Hotels.

Lemon Tree Hotel, Junagadh will feature 64 well-appointed rooms, a restaurant, a banquet hall, meeting room and other public areas and is expected to be operational by FY2025.

Further, Lemon Tree Resort, Chitwan, Nepal will feature 35 well-appointed rooms, one restaurant, banquet hall, meeting rooms and other public areas and is expected to be operational in FY2024 itself.

Mahesh Aiyer, CEO, Carnation Hotels, said “The two additions under two diverse brands aligns with our asset-light policy. These would expand our offerings in different parts of the country and internationally to cater to a variety of travellers in different destinations.”

Lemon Tree Hotels is engaged to carry out business of developing, owning, acquiring, renovating, operating, managing and promoting hotels, motels, resorts, restaurants, etc. under the brand name of Lemon Tree Hotel, Lemon Tree Premier, Red Fox Hotel, Aurika, Keys Select, Keys Prima and Keys Lite. Also, some of the Group companies provide project management services and learning & development services.

The company reported 69.4% jump in consolidated net profit to Rs 23.46 crore on 15.7% rise in revenue from operations to Rs 222.26 crore in Q1 FY24 over Q1 FY23.

The counter hit an all-time high of Rs 125.50 in intraday today, on the BSE.