The property shall be managed by Carnation Hotels, a wholly owned subsidiary of Lemon Tree Hotels and is expected to open in FY 2027.
This hotel will feature 72 well-appointed rooms, a restaurant, a bar, a swimming pool and other public areas. The hotel is well connected by roadways for both public and private transport.
Vilas Pawar, CEO-managed & franchise business, Lemon Tree Hotels, said, “Being the “Spiritual Capital of India”, Ujjain is on the must-visit list for pilgrims and we are thrilled to expand our presence in the city. This opening will be in addition to our four existing and two upcoming hotels in the state.”
Lemon Tree Hotels its principal activities are to carry out the business of developing, owning, acquiring, operating, managing, renovating, 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.
The company reported a 15.55% fall in consolidated net profit to Rs 19.81 crore in Q1 FY25 as compared to Rs 23.46 crore posted in Q1 FY24. However, revenue from operations jumped 19.52% year on year (YoY) to Rs 268.02 crore in Q1 FY25.
Shares of Lemon Tree Hotels shed 0.49% to end at Rs 132.70 on Wednesday, 28 August 2024.