Lemon Tree Hotels debuts at Rs61.6, lists up by 10%
Lemon Tree Hotels Limited gets listed in the exchanges at a price of Rs61.6, up by 10% from its higher end of the issue price band of Rs56 per share.
Lemon Tree Hotels Limited (LTHL) is India’s largest hotel chain in the mid-priced hotel sector, as per the Horwath report. It is also the third largest hotel on the basis of controlling interest in owned and leased rooms, as of June 30, 2017. LTHL operates 4,697 rooms in 45 hotels (including 18 managed hotels with 1,504 rooms) across 28 cities, as on January 31, 2018. Its owned and leased hotels had an average occupancy rate of 75.3% for 9MFY18.
LTHL has three brands under following segments:
• Lemon Tree Premier – Upper mid-scale hotel segment (10 hotels having 1,301 rooms, as on January 31, 2018)
• Lemon Tree Hotels – Mid-scale hotel segment (27 hotels having 2,325 rooms)
• Red Fox – Economy hotel segment (eight hotels having 1,071 rooms)
The stock of Lemon Tree Hotels is trading at a price of Rs59.70 on BSE at 10.15am.