Lemon Tree Hotels Limited Mutually Terminates Franchise Agreement for Bareilly Hotel
Lemon Tree Hotels Limited announced the mutual termination of a franchise agreement previously executed with M/s. Sparsh Inn LLP. The agreement, which had been signed on May 10, 2024, related to the use of the 'Keys Select by Lemon Tree Hotels' brand for a proposed upcoming hotel located in Bareilly, Uttar Pradesh.The company stated that the aforementioned hotel was not operational at the time of the agreement termination. Lemon Tree Hotels Limited confirmed that the termination of the franchise agreement will have no material financial impact on the company.
LEMONTREE Stock Price Movement
Today, Lemon Tree Hotels Limited shares slipped by 1.74% to settle at ₹112.15. The stock finished the session on a volume of 2.37 million shares, representing a noticeable dip for the travel REIT.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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