Lemon Tree Hotels Ltd

Lemon Tree Hotels Limited has signed a License Agreement for 'Lemon Tree Hotel, Janakpur' in Nepal. This property will be managed by its wholly-owned subsidiary, Carnation Hotels Private Limited. The hotel will feature 85 rooms, a restaurant, banquet hall, bar, swimming pool, spa, and fitness center. This signing expands Lemon Tree Hotels' Nepal portfolio to 8 properties and its overall international managed portfolio to 11 properties, comprising 6 operational and 5 upcoming. Janakpur is a significant pilgrimage and heritage destination, aligning with the company's strategy to develop hospitality in culturally important markets.

Franklin Templeton Mutual Fund has divested 613,818 equity shares, representing 0.077% of the total share capital, in Lemon Tree Hotels Ltd. The sale was conducted through the open market. Following the transaction, Franklin Templeton's shareholding in Lemon Tree Hotels has reduced from 5.095% to 5.017%. The total equity share capital of the company remains unchanged at 792,246,464 shares.

Lemon Tree Hotels Limited has announced the signing of two new license agreements for properties in Maharashtra: Lemon Tree Resort, Tadgaon and Lemon Tree Resort, Igatpuri. These properties will be managed by its subsidiary, Carnation Hotels Private Limited. The Tadgaon resort will feature 110 rooms and various amenities, while the Igatpuri resort will have 90 rooms and similar facilities. These additions will bring Lemon Tree's network in Maharashtra to 32 properties, with 15 operational and 17 in the pipeline. The company views these signings as strategic expansion into high-potential micro-markets catering to drive-to tourism.

Lemon Tree Hotels Limited has announced the opening of its new hotel in Sri Ganganagar, Rajasthan. The hotel features 68 rooms and suites, a restaurant, bar, banquet facilities, spa, swimming pool, and fitness center. This marks the company's 13th operational hotel in Rajasthan, with 10 more planned in the state. The property is managed by Carnation Hotels Private Limited, a wholly owned subsidiary. The company aims to expand its presence in high-potential Tier-II and Tier-III markets.

Lemon Tree Hotels Ltd has appointed Mr. Kartikeya Kumar Singh as its Chief Digital and Transformation Officer & Senior Management Personnel (SMP). This appointment is in line with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Mr. Singh brings 23 years of extensive experience in digital transformation, technology strategy, and consumer goods operations, having previously held significant roles at companies like Coca-Cola India, Adidas India, and Pernod Ricard India. His expertise is expected to drive the company's digital initiatives and overall transformation.

Lemon Tree Hotels Limited has signed a franchise agreement for Keys Prima by Lemon Tree Hotels in Jaipur, Rajasthan. This marks a significant expansion for the company, increasing its total city-wide portfolio in Jaipur to six properties (three operational, three upcoming) and its Rajasthan portfolio to 23 hotels (13 operational, 10 upcoming). The new 88-room hotel will cater to both business and leisure travelers and aligns with Lemon Tree's asset-light expansion strategy. This signing broadens the group's brand portfolio in Jaipur with an upper-midscale lifestyle offering.

Lemon Tree Hotels Ltd's material subsidiary, Fleur Hotels Limited, has received an order from the Customs, Excise and Service Tax Appellate Tribunal, Hyderabad. The tribunal has confirmed a demand for service tax amounting to ₹33,54,487, along with penalties under Sections 76 and 77(2) of the Finance Act, 1994, for the period July 2012 to March 2013. The alleged contravention relates to the incorrect availment of CENVAT credit on maintenance, internet, and courier services. The company stated that there is no material impact on its financial or operational activities beyond the specified amount and is evaluating legal remedies.

Lemon Tree Hotels Ltd has mutually terminated its Franchise Agreement with M/s. Sparsh Inn LLP, dated May 10, 2024, for a 'Keys Select by Lemon Tree Hotels' property in Bareilly, Uttar Pradesh. The hotel was not operational, and the termination is not expected to have a material financial impact on the company.

Lemon Tree Hotels Limited's Board of Directors, at its meeting on May 28, 2026, approved the audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026. The Statutory Auditors, M/s. Deloitte Haskins & Sells LLP, issued an unmodified opinion on these results. Additionally, the Board appointed M/s R. Khattar & Associates, Chartered Accountants, and re-appointed M/s Felix Advisory Private Limited as Internal Auditors for the Financial Year 2026-27, following the Audit Committee's recommendation. The trading window for directors, promoters, and designated persons will open 48 hours after the financial results declaration. M/s R. Khattar & Associates, established in 1990, brings over 30 years of experience in assurance and advisory services across various sectors.

Lemon Tree Hotels Limited's Board of Directors approved the Audited Standalone and Consolidated Financial Results for the quarter and financial year ended March 31, 2026, at its meeting on May 28, 2026. The statutory auditors, M/s. Deloitte Haskins & Sells LLP, issued an unmodified opinion on these results. Additionally, the Board, based on the Audit Committee's recommendation, appointed M/s R. Khattar & Associates and re-appointed M/s Felix Advisory Private Limited as Internal Auditors for the financial year 2026-27. The trading window for company insiders will open 48 hours after the results declaration.