The said property shall be managed by Carnation Hotels, a wholly owned subsidiary of Lemon Tree Hotels and is expected to open in FY 2028.

This hotel will feature 80 well-appointed rooms, a restaurant, a rooftop lounge bar, a swimming pool, a fitness center, banquet halls and other public areas.

Vilas Pawar, CEO - managed & franchise business, Lemon Tree Hotels, said: “In recent years, spiritual destinations have seen a marked uptick in the number of visitors and Ayodhya features high on the must-visit list for pilgrims.

The city holds immense spiritual and cultural significance in Uttar Pradesh and we are thrilled to expand our presence in the city. This opening will be in addition to our seven existing and six upcoming hotels in the state.”

Lemon Tree Hotels its principal activities are to carry out the business of developing, owning, acquiring, operating, managing, renovating, and promoting hotels, motels, resorts, restaurants, etc. under the brand name of Lemon Tree Hotel, Lemon Tree Premier, Red Fox Hotel, Aurika, Keys Select, Keys Prima and Keys Lite.

The company reported a 15.55% fall in consolidated net profit to Rs 19.81 crore in Q1 FY25 as compared to Rs 23.46 crore posted in Q1 FY24. However, revenue from operations jumped 19.52% year on year (YoY) to Rs 268.02 crore in Q1 FY25.

The scrip rose 0.68% to currently trade at Rs 133.80 on the BSE.