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Lemon Tree Hotels signs new Mcleodganj hotel, to open next Sept

NEW DELHI :

Hospitality company Lemon Tree Hotels Ltd has announced that it has signed a new hotel at Dharamshala in Himachal Pradesh. The hotel, with 39 keys, is owned by MK Enterprises and is slated to open in September 2022.

Mcleodganj, a hill station suburb of Dharamshala, is located in the Kangra district. The hotel will have a restaurant, a bar, a conference room, a swimming pool and a fitness centre.

Rattan Keswani, the deputy managing director at the company, said the move will help the company focus on a key market. “Mcleodganj is a very popular tourist destination. With the growing opportunities and tourist attractions in the region, this hotel will cater to these distinct and high demand micro-markets.”

Lemon Tree Hotels, which has 87 hotels in the country, has reported an 84.33% rise in its total consolidated revenue for the second quarter of 2021-22 at ₹98.82 crore. The revenue, the company reported, has increased by about 123.17% on a sequential basis compared to ₹44.28 crore revenue in the previous quarter. The company’s consolidated net loss for this quarter has narrowed as well on a year-on-year basis to ₹20.82 crore as compared to the net loss of ₹37.13 crore in the same quarter in the last fiscal.

According to hospitality consultancy HVS Anarock, on an India-wide average, there has been a 1-3% increase in average daily rates in September 2021 from the month prior. It added that the average daily rate or ADR in September 2021 stood between ₹4,200- ₹4,400 per night in hotels across the country. ADR is a metric that measures the effectiveness of room rate management. By the end of 2020, ADR had declined and was much lower at 14-17% compared to 2019.

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