Lemon Tree Hotels Limited has informed the Exchange regarding a press release dated March 19, 2026, titled "The Company has signed a License Agreement viz. Lemon Tree Resort, Lonavala, Maharashtra".
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Lemon Tree Hotels has signed a license agreement to open a new resort called 'Lemon Tree Resort' in Lonavala, Maharashtra. The property will feature 50 rooms along with a restaurant, banquet hall, meeting room, swimming pool, spa, and fitness centre. It will be managed by Carnation Hotels Private Limited, the company's wholly-owned subsidiary. The resort is well-located about 69 km from Navi Mumbai International Airport and 5.8 km from Lonavala Railway Station, making it accessible to travellers from Mumbai and Pune. This signing adds to the company's strong Maharashtra footprint of 15 operational hotels and 14 more in the pipeline, as Lemon Tree continues to grow its 260+ property portfolio.
Modest positive for shareholders as the signing strengthens Lemon Tree's leisure portfolio in a popular weekend destination, but new hotel signings typically take 2-3 years to become revenue-generating, so the near-term stock impact is likely limited.