Lemon Tree Hotels Limited has informed the Exchange regarding a press release dated April 17, 2026, titled "Company has signed a License Agreement viz. Lemon Tree Hotel, Garudeshwar, Gujarat".
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Lemon Tree Hotels has signed a license agreement to open a new hotel property in Garudeshwar, Gujarat. The hotel will feature 90 rooms along with amenities including a restaurant, banquet hall, meeting room, swimming pool, spa, and fitness centre. The property will be managed by Carnation Hotels Private Limited, the company's wholly-owned subsidiary. With this addition, Lemon Tree Hotels will have 32 properties in Gujarat (11 operational and 21 upcoming). Garudeshwar is emerging as a pilgrimage and tourism destination, benefiting from proximity to attractions like the Statue of Unity and improving infrastructure.
This is a routine expansion announcement that does not represent a material financial event. The new signing expands the company's pipeline but is unlikely to have any immediate impact on the stock price.