ICICI Securities said Lemon Tree stock is expected to benefit as foreign travelers inbound and the hotel industry is expected to pick up in cities like Mumbai and Delhi.
Lemon Tree is India’s largest company in the mid-range hotel segment. Lemon Tree has 87 hotels in 54 locations across India. These have a total of 8497 rooms.
Lemon Tree also plans to build 738 new rooms. Lemon Tree’s share price is up 72% so far this year alone. Lemon Tree’s share price has risen 105% in the past year. Lemon Tree’s share price continues to rise amid high expectations.