This small-cap hotel company launches its fifth property in Kerala; shares price surge
This company is the largest hotel chain in India's mid-priced hotel market.
About New Development
Lemon Tree Hotels has opened its fifth facility in Kerala, Keys Prima by Lemon Tree Hotels, in Thekkady. The hotel is strategically positioned near Kumily, a gateway town into Kerala, and is ideal for nature lovers. This property has 42 well-appointed rooms, a multi-cuisine restaurant, a meeting room, a fitness centre, banquets, and other public areas such as Keys Garden, a pristine green space overlooking the surrounding lush hilly areas, making it ideal for outdoor parties and get-togethers.
Price Movement of Lemon Tree Hotels Limited
The scrip opened at Rs. 74.65 and touched a high and low of Rs 74.85 and Rs 74.76, respectively. Its 52-week high stood at Rs 103.30, whereas its 52-week low was Rs 52.20. The current market cap of the company is Rs 5,855.49 crore. Promoters hold 23.62 per cent, whereas institutional and non-institutional holdings are 36.95 per cent and 38.14 per cent, respectively.
Lemon Tree Hotels Limited (LTH) operates India's largest mid-priced hotel brand. It operates in the upmarket and mid-priced divisions, which include upper-midscale, midscale, and economy. It offers distinct yet great service options at a reasonable price. In May 2004, LTH built its first hotel with 49 rooms (including Keys hotels) in numerous cities under its many brands, including Aurika Hotels & Resorts, Lemon Tree Premier, Lemon Tree Hotels, Red Fox Hotels, Keys Prima, Keys Select, and Keys Lite. Lemon Tree Hotels, which includes Keys Hotels, have locations throughout India, including the NCR, Bengaluru, Hyderabad, Mumbai, Kolkata, and Chennai, as well as tier I and tier II cities like Pune, Ahmedabad, Chandigarh, Jaipur, Indore, Aurangabad, Udaipur, Vishakhapatnam, Kochi, Ludhiana, Thiruvananthapuram, and Vijayawada. With the opening of the hotel in Dubai in December 2019 and Bhutan in February 2020, the firm has grown abroad. Internationally, new hotels are also opening in Nepal.
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