Lemon Tree Hotels Expands with New Property in Shirdi, Maharashtra
Lemon Tree Hotels is set to open a new resort in Shirdi, Maharashtra, managed by Carnation Hotels, a subsidiary of the company. The property is expected to start operations in FY 2028, complementing the company's existing portfolio in the state.
ShirdiMaharashtraLemon Tree HotelsCarnation HotelsHospitalityReal Estate MaharashtraFeb 27, 2025
The property, managed by Carnation Hotels, a wholly-owned subsidiary of Lemon Tree, is expected to start operations in FY 2028.
The new Lemon Tree Resort in Shirdi will feature 50 well-appointed rooms, a restaurant, a banquet hall, a meeting room, a swimming pool, a spa, and other public areas.
This addition to the Lemon Tree portfolio is a strategic move aimed at tapping into one of India's largest commercial and industrial hubs.
Vilas Pawar, CEO of Managed & Franchise Business at Lemon Tree Hotels, expressed his enthusiasm about the expansion “We are delighted to expand our portfolio in Maharashtra, one of India's largest commercial and industrial hubs.
By expanding in the state, we are not only tapping into a thriving economic hub but also embracing a place that beautifully balances modernity with tradition.
This new addition will complement our 12 existing hotels and six upcoming properties in Maharashtra.”
Lemon Tree Hotels is a diversified hospitality company with a range of brand names, including Lemon Tree Hotel, Lemon Tree Premier, Red Fox Hotel, Aurika, Keys Select, Keys Prima, and Keys Lite.
The company's principal activities encompass the development, ownership, acquisition, operation, management, renovation, and promotion of hotels, motels, resorts, and restaurants.
The company's financial performance has been impressive.
In Q3 FY25, Lemon Tree Hotels reported a consolidated net profit of Rs 62.49 crore, marking a 76.53% increase compared to the same period in Q3 FY24.
Revenue from operations also saw a 22.4% increase to Rs 355.18 crore.
These robust financial results highlight the company's strong market position and growth potential.
Despite the positive financial performance, shares of Lemon Tree Hotels shed 0.04% to Rs 126.45 on the BSE.
However, the company's consistent growth and strategic expansion plans continue to attract investor interest.
The new property in Shirdi is not only an expansion in terms of physical presence but also a strategic move to enhance the company's brand recognition and market share in a region known for its economic and cultural significance.
With the addition of this property, Lemon Tree Hotels aims to provide high-quality accommodation and services to both leisure and business travelers.
Frequently Asked Questions
When is the new Lemon Tree Resort in Shirdi expected to start operations?
The new Lemon Tree Resort in Shirdi is expected to start operations in FY 2028.
What are the key features of the new Lemon Tree Resort in Shirdi?
The new Lemon Tree Resort in Shirdi will feature 50 well-appointed rooms, a restaurant, a banquet hall, a meeting room, a swimming pool, a spa, and other public areas.
Who is managing the new property in Shirdi?
The new property in Shirdi will be managed by Carnation Hotels, a wholly-owned subsidiary of Lemon Tree Hotels.
What brands does Lemon Tree Hotels operate under?
Lemon Tree Hotels operates under several brand names, including Lemon Tree Hotel, Lemon Tree Premier, Red Fox Hotel, Aurika, Keys Select, Keys Prima, and Keys Lite.
How has Lemon Tree Hotels performed financially in Q3 FY25?
In Q3 FY25, Lemon Tree Hotels reported a consolidated net profit of Rs 62.49 crore, marking a 76.53% increase compared to the same period in Q3 FY24. Revenue from operations also saw a 22.4% increase to Rs 355.18 crore.
Related News Articles
Can Homebuyers Get a Refund of Booking Amount from Real Estate Developers in Case of Job Loss?
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has directed a developer to partially refund the booking amount paid by two homebuyers after deducting 2% of the total booking amount.
Real Estate Sector Sees Encouraging Outlook Despite Legacy Challenges
The Economic Survey highlights India's real estate sector's recovery, driven by urbanization and government schemes, but notes that legacy stalled projects pose a challenge.
Why NRIs Favour Investing in Indian Real Estate Market
For years, real estate has been a popular investment option for Non-Resident Indians (NRIs) due to its potential for long-term appreciation and rental income.
Musi River Rejuvenation to Boost Real Estate Sector: Kishan Reddy
Kishan Reddy, the Union Minister of State for Road Transport and Highways, has stated that the rejuvenation of the Musi River will significantly benefit the real estate sector in Telangana.
Maharashtra CM Candidate to Be Decided Tomorrow: Eknath Shinde
Eknath Shinde, the caretaker Chief Minister of Maharashtra, announced that the CM candidate from the Mahayuti alliance will be finalized the following day. He assured full support for the decision, emphasizing the strong understanding among the three alli
Real Estate Advertising Leads Misleading Ad Violations as ASCI Tightens Scrutiny
The Advertising Standards Council of India (ASCI) flagged over 3000 misleading ads in the first half of 2024-25, with the real estate sector accounting for 34% of the violations.