Lemon Tree Hotels, a leading hotel chain company, has delivered impressive returns to investors despite the impact of the COVID-19 pandemic on the stock market. With strong fundamentals and a solid business plan, the company has provided a return of 550% in just two years. Currently, Lemon Tree Hotels’ shares are trading at Rs. 93.85 on the BSE, up by 1.24%.
Best Quarter of 2023 for Lemon Tree Hotels
Lemon Tree Hotels’ shares were severely affected during the first wave of the pandemic, trading at Rs. 14.45 on May 20, 2020. However, as the situation improved, the tourism industry began to recover, and the company’s business started to grow. In just two years, Lemon Tree Hotels’ shares have gained nearly 550% and are currently trading at Rs. 93.85.
The company’s performance has been impressive, with the January-March 2023 quarter being the best in its history. ICICI Securities has increased its target price for Lemon Tree Hotels from Rs. 132 to Rs. 137 after the results.
Lemon Tree Hotels’ Future Plans
Lemon Tree Hotels plans to increase the number of rooms to around 2800 by March 2025, which will increase the total operational keys to over 11,000. The company also aims to reduce its debt by 2025. The Mumbai Airport hotel’s pending capital expenditure of INR 300 crore will be completed by March 2024.
ICICI Securities maintains a buy rating on Lemon Tree Hotels, with a target price of Rs. 137. However, the company’s business may be affected by a slowdown in demand, a decrease in room rates, and inflation. Before making any investment decisions, users are advised to seek the advice of a certified expert.
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