Lemon Tree Signs 55-Room Keys Prima in Akola; Stock Drops 1%

March 2, 2026March 2, 2026

Shares of Lemon Tree Hotels Ltd fell 1% on 2nd March after touching the day’s high of Rs 114.73. This came despite the company announcing the signing of a new hotel in Akola, Maharashtra, under its Keys Prima brand. The property will be managed by Carnation Hotels Private Limited, a wholly owned subsidiary of the company.

The upcoming hotel will have 55 rooms, along with a restaurant, banquet hall, conference room, fitness centre, swimming pool and spa. With this signing, Lemon Tree Hotels’ Maharashtra portfolio will increase to 28 properties. This includes 15 operational hotels and 13 in the pipeline.

Akola, located in the Vidarbha region, is a key commercial and agricultural hub known for cotton production and active trade. The hotel is around 265 km from Dr Babasaheb Ambedkar International Airport. It is about 4.4 km from Akola Junction railway station, offering convenient access for business and trade travellers.

Vilas Pawar, CEO – Managed and Franchise Business, Lemon Tree Hotels, said Akola’s growing commercial importance makes it a strategic addition. Moreover, business activity continues to expand beyond major metros into emerging regional centres.

Last month, the company also signed a new property in Madhya Pradesh under the Lemon Tree Premier brand in Omkareshwar. The hotel will be managed by Carnation Hotels Private Limited, a wholly owned subsidiary of Lemon Tree Hotels Limited. This further strengthens the company’s presence in the state.

At 1:25 PM, shares of Lemon Tree Hotels were trading 0.99% lower at Rs 112.55 on the NSE.

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