Lemon Tree Hotels and Carnation Hotels Announce Exciting 2026 Opening of Nashik Property with Gourmet Dining and Spa

Published on September 10, 2024

Lemon Tree Hotel, Nashik, managed by Carnation Hotels, is set to open in 2026, offering 57 elegant rooms, a restaurant, bar, banquet hall, pool, and spa.

Carnation Hotels Private, a wholly-owned subsidiary of Lemon Tree Hotels, will manage the upcoming Lemon Tree Hotel in Nashik. The property is expected to open during the financial year 2026. It will feature 57 stylishly designed rooms along with a variety of amenities, including a restaurant, bar, banquet hall, meeting room, swimming pool, and spa, catering to both leisure and business travelers.

Lemon Tree Hotels is known for its expansive operations in developing, owning, managing, and promoting properties under multiple brand names. These include Lemon Tree Hotel, Lemon Tree Premier, Red Fox Hotel, Aurika, Keys Select, Keys Prima, and Keys Lite, allowing the company to cater to a diverse range of customer preferences and budgets.

Financially, Lemon Tree Hotels experienced a 15.55% decline in consolidated net profit in Q1 FY25, bringing in Rs 19.81 crore compared to Rs 23.46 crore in Q1 FY24. Despite the drop in profit, the company saw a significant increase in revenue from operations, which rose by 19.52% year-on-year (YoY) to reach Rs 268.02 crore in Q1 FY25, reflecting strong operational performance.

However, the company’s stock price dipped slightly on 9 September 2024, closing at Rs 129.35, down by 0.42%. Despite the minor stock fluctuation, the company’s long-term outlook remains optimistic, given its steady expansion and revenue growth.

The upcoming Lemon Tree Hotel in Nashik is expected to strengthen the company’s portfolio, offering a mix of luxurious accommodations and modern amenities that align with its growth strategy and commitment to delivering quality hospitality experiences.