Lemon Tree Hotels Ltd shares rose 3.23% following the announcement of two new resort signings in Maharashtra. The company reported strong financial performance in Q4 FY26, with consolidated net profit rising 8.09% to ₹91.49 crore compared to ₹84.64 crore in the corresponding quarter last year. Revenue from operations increased 10% year-on-year to ₹416.40 crore during the quarter ended March 31, 2026. The positive market reaction reflects investor confidence in the company's strategic expansion into high-growth leisure destinations.
Lemon Tree Hotels has signed two new resorts in Maharashtra — Lemon Tree Resort, Tadgaon and Lemon Tree Resort, Igatpuri — adding 200 keys to its development pipeline. According to reports from CNBC TV18 and Business Standard, with these latest additions, the company's portfolio in Maharashtra will expand to 32 properties, comprising 15 operational hotels and 17 properties under development. Both resorts will be managed by Carnation Hotels Private Ltd, a wholly owned subsidiary of Lemon Tree Hotels.
Lemon Tree Resort, Tadgaon will feature 110 rooms along with a restaurant, banquet hall, meeting and conference facilities, swimming pool, spa and fitness centre. As reported by CNBC TV18 and Business Standard, the property is located about 75 km from Navi Mumbai International Airport and 100 km from Mumbai Central Railway Station. Lemon Tree Resort, Igatpuri will offer 90 rooms and include a restaurant, banquet hall, meeting and conference facilities, swimming pool, spa and fitness centre. The resort is located around 134 km from Mumbai International Airport and 5.6 km from Igatpuri Railway Station.
According to Business Standard, the twin signings reflect Lemon Tree Hotels' focus on high-growth micro-markets that are emerging as preferred drive-to destinations for leisure and corporate travellers from Mumbai, Navi Mumbai, Thane and Pune. Vishvapreet Singh Cheema, President of Lemon Tree Hotels Ltd, stated that the expansion strategy is deeply aligned with the evolving dynamics of the drive-to hospitality sector. He emphasized that urban travellers and corporate houses are increasingly prioritising accessible, high-amenity destinations that don't require complex logistics. The company positions itself to capture a highly lucrative mix of weekend leisure, multi-generational travel, and mid-to-high-level corporate retreats in these premium micro-markets.
As reported by Business Standard, Lemon Tree Hotels is one of the largest hotel chains in India and owns/leases/operates/franchises hotels across the upscale, upper-midscale, midscale, and economy segments. The group offers seven brands to meet guests needs across all levels, including Aurika Hotels & Resorts, Lemon Tree Premier, Lemon Tree Hotels, Red Fox Hotels by Lemon Tree Hotels, Keys Prima by Lemon Tree Hotels, Keys Select by Lemon Tree Hotels, and Keys Lite by Lemon Tree Hotels. The expansion comes as hospitality companies continue to strengthen their footprint in emerging leisure markets, driven by growing demand for short-haul tourism and corporate offsite travel.
