The property shall be managed by the company's wholly owned subsidiary, Carnation Hotels.
Lemon Tree Resort, Mhasrul, Nashik, will feature 50 well-appointed rooms, a restaurant, and a banquet.
Vilas Pawar, CEO of managed & franchised business Lemon Tree Hotels, commented, 'We are delighted to reinforce our presence in Maharashtra. This signing aligns with our broader strategy for sustained growth across key markets. This addition reinforces our growing footprint in the state, where we currently operate 14 hotels and have nine more upcoming ones.'
Lemon Tree Hotels (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. The group offers seven brands to meet guests' needs across all levels, viz., 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 company reported a 93.49% surge in consolidated net profit to Rs 38.33 crore, while revenue from operations rose 17.82% to Rs 315.77 crore in Q1 FY26 over Q1 FY25.
Shares of Lemon Tree Hotels dropped 2.02% to Rs 164.90 on the BSE.
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