The shares of a Hospitality company, specializing in offering budget-friendly and mid-scale hotel accommodations, jumped upto 2 percent upon signing two license agreements for hotels in Madhya Pradesh.

Lemon Tree Hotels Limited, engaged in offering budget-friendly and mid-scale hotel accommodations, has signed two new properties in Madhya Pradesh, named Keys Lite by Lemon Tree Hotels, Niman, and Keys Lite by Lemon Tree Hotels, Garoth and the both properties will be managed by Carnation Hotels Private Limited, a subsidiary of Lemon Tree Hotels.

Each hotel will feature 42 well-appointed rooms, a restaurant, banquet, meeting rooms, and other public areas, and is expected to open by FY 2026. Madhya Pradesh’s unique blend of history, culture, and natural beauty makes it an appealing destination. The Nimar region, where Niman is located, has rich cultural heritage, while Garoth, near Gandhi Sagar Lake, shares a boundary with Rajasthan.

Mr. Vilas Pawar, CEO – Managed & Franchise Business, Lemon Tree Hotels said: We are thrilled to expand our presence in Madhya Pradesh, often referred to as the ‘Heart of India’. The opening of these two new properties will enhance our strategic growth in the state, complementing our portfolio of four existing hotels and four upcoming properties.

Lemon Tree Hotels Limited (LTHL) is one of the largest hotel chains in India and owns/leases/operates/franchises hotels across the upscale, upper-midscale, midscale, and economy segments. LTHL delivers differentiated yet superior service offerings, with a compelling value proposition.

The group offers seven brands to meet guests’ needs across all levels, viz. Aurika Hotels & Resorts, Lemon Tree Premier, Lemon Tree Hotels, Red Fox by Lemon Tree Hotels, Keys Prima by Lemon Tree Hotels, Keys Select by Lemon Tree Hotels, and Keys Lite by Lemon Tree Hotels.

The company has recently signed 13 new management and franchise contracts, adding 766 new rooms to thier pipeline, and operationalized one hotel, adding 38 rooms to thier portfolio and as of December 31, 2024, the inventory for the group stands at 112 operational hotels with 10,317 rooms and a pipeline of 88 hotels with 6,068 rooms.