Lemon Tree Hotels Announces Mutual Termination of Agartala Hotel Agreements
Lemon Tree Hotels Limited confirmed today the mutual termination of key agreements related to its proposed hotel venture in Agartala, Tripura. The termination involved agreements executed between M/s. PRM Tirupati Pvt. Ltd. (Owner), M/s. Carnation Hotels Pvt. Ltd. (Operator), and Lemon Tree Hotels Limited (the Company).The termination pertains to the Hotel Operating Agreement, which was originally executed on March 18, 2024. Additionally, the License Agreement executed on the same date between the Company, the Operator, and the Owner was also mutually terminated by the respective parties.
The company stated that the hotel in question was not yet operational. Consequently, Lemon Tree Hotels Limited indicated that there is no financial impact on the Company arising from the termination of these aforementioned agreements.
LEMONTREE Stock Price Movement
Today, Lemon Tree Hotels Limited shares edged higher to close at ₹113.87, posting a solid gain of 4.07%. The equity saw robust conviction in its final hours of trading, with shares turning over a volume of 4.87 million.Source:
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