Hospitality firm Lemon Tree Hotels Ltd (LTHL) on Tuesday, July 4, said it has signed a licence agreement for a 48-room property in Udaipur, Rajasthan, under the company's brand, 'Keys Select by Lemon Tree Hotels.'

The property will feature 48 rooms, banquet facilities, a restaurant, a bar, meeting rooms, a banquet hall, a fitness centre, and other public areas.

The hotel is expected to be operational by the fourth quarter of FY24 and will be managed by Carnation Hotels Private Ltd, a wholly-owned subsidiary and the management arm of Lemon Tree Hotels.

Mahesh Aiyer, CEO of Carnation Hotels Private, said the company is excited to partner with Mahaveer Trading for the signing of its newest hotel in Udaipur, a city renowned for its rich heritage.

This addition expands our portfolio in the city, which already has Aurika, Udaipur. Rajasthan has six operational and three upcoming properties, aside from this one. The aim is to meet the evolving needs of different kinds of travellers, Aiyer said.

LTHL opened its first hotel with 49 rooms in May 2004 and currently operates 8,550 rooms in 91 hotels across 57 destinations. When the current pipeline becomes operational, LTHL will be operating 12,250 rooms in 137 hotels across 88 destinations.

Shares of Lemon Tree Hotels Ltd ended at Rs 92.80, down by Rs 0.92, or 0.98 percent on the BSE.

(Edited by : Shoma Bhattacharjee)