Lemon Tree Hotels rallies 3% on addition of new property in Pune

Carnation Hotels Private Limited, the hotel management arm of the company will be operating and marketing this hotel, Lemon Tree said.

Lemon Tree Hotels shares gained 3 percent in morning on Wednesday as the company added new hotel property in Pune, Maharashtra.

The hotel chain company informed exchanges that it has signed a License Agreement for a 69 room property located at Viman Nagar, Pune, Maharashtra under its brand Lemon Tree Hotel.

The hotel is expected to be operational by March, 2019, it said.

It will third hotel besides other 2 hotels owned by the company in Pune.

Carnation Hotels Private Limited, the hotel management arm of the company will be operating and marketing this hotel, Lemon Tree said.

At 10:29 hours IST, the stock was quoting at Rs 71.00, up Rs 0.55, or 0.78 percent on the BSE.

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