HBI Staff | Mumbai 
Lemon Tree Hotels signed a license agreement for upcoming hotel in Coimbatore, Tamil Nadu under the company’s brand, Keys Lite by Lemon Tree Hotels recently.
The upcoming property will be managed by Carnation Hotels Private, a wholly-owned subsidiary and the hotel management arm of the company.
The hotel will feature 40 well-appointed rooms, a restaurant and a meeting room. It is expected to open in FY26. The hotel is connected by both public and private transport from all major cities in India.
The company’s consolidated net profit declined 11.43% to Rs 35.40 crore despite of 23.60% increase in revenue from operations to Rs 288.69 crore in Q3 FY24 over Q3 FY23.
The counter remained unchanged at Rs 139.35 on Thursday, 7 March 2024. The stock market was shut on Friday, 8 March 2024, on account of Mahashivratri.
