Lemon Tree Hotels has signed a Franchise Agreement for a property in Dehradun, the capital city of Uttarakhand, under its brand ‘Keys Lite by Lemon Tree Hotels, Dehradun'.Dec 27, 2022 IST4 Min(s) ReadDec 27, 2022 IST3 Min(s) ReadDec 26, 2022 IST9 Min(s) ReadDec 26, 2022 IST3 Min(s) ReadExpanding its spread in the state, the leading hotel chain has signed a franchised hotel having 32 rooms under the Keys Lite brand, the company said in a filing to bourses on Tuesday.The latest property in the northern state, situated on Sahastradhara Road, will also have meeting rooms and public areas. The hotel is likely to begin operations by December 2023.The new property in Dehradun is located 6km away from the Dehradun Railway Station and 30km away from the Jolly Grant Airport. Lemon Tree Hotels already operates nine properties in Uttarakhand, of which three are in Dehradun.'We are pleased to announce the expansion of our portfolio in Uttarakhand with our valued partner Amrit Resorts,' said the CEO of the Franchise Division of Lemon Tree Hotels, Vilas Pawar.The company has embarked on a new phase, where it will be establishing franchise hotels, under its asset-light growth strategy.
It plans to diversify its portfolio across leisure destinations as well as metro and tier 1-4 cities.Shares of Lemon Tree Hotels ended 1.3 percent higher at Rs 79.75.