Lemon Tree Hotels signs two new resorts in Maharashtra, adds 200 keys

Lemon Tree Hotels Limited has signed two license agreements for new resorts in Tadgaon and Igatpuri, Maharashtra, adding 200 keys to its portfolio. The properties, Lemon Tree Resort, Tadgaon and Lemon Tree Resort, Igatpuri, will be managed by Carnation Hotels Private Limited, a wholly-owned subsidiary of Lemon Tree Hotels Limited. This expansion increases the company's presence in the state to 32 properties, comprising 15 operational and 17 in various stages of development.

Property Details

The new signings aim to strengthen the company's network in high-potential micro-markets emerging as preferred drive-to destinations for leisure and corporate travel from urban hubs like Mumbai, Navi Mumbai, Thane, and Pune. The following table outlines the key features of the upcoming properties:

Property	Location	Rooms	Amenities
Lemon Tree Resort	Tadgaon	110	Restaurant, banquet hall, meeting/conference room, swimming pool, spa, fitness center
Lemon Tree Resort	Igatpuri	90	Restaurant, banquet hall, meeting/conference room, swimming pool, spa, fitness center

Strategic Expansion

Lemon Tree Resort, Tadgaon is located approximately 75 km from Navi Mumbai International Airport and 100 km from Mumbai Central Railway Station. Meanwhile, Lemon Tree Resort, Igatpuri is situated approximately 134 km from Mumbai International Airport and 5.6 km from Igatpuri Railway Station. Both properties are designed to cater to leisure and events-led travel.

Vishvapreet Singh Cheema, President of Lemon Tree Hotels Ltd., stated that the expansion strategy aligns with the evolving dynamics of the drive-to hospitality sector. He noted that the company is positioned to capture a mix of weekend leisure, multi-generational travel, and corporate retreats through these new additions.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.29%	+10.35%	+5.63%	-26.50%	-12.59%	+186.34%

Franklin Templeton Mutual Fund reduced its shareholding in Lemon Tree Hotels Ltd by disposing of 613,818 equity shares on June 17, 2026. The sale, executed via the open market, lowered the fund's stake in the hospitality company from 5.095% to 5.017% of the total voting capital. This transaction was disclosed to the stock exchanges in compliance with Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Prior to the disposal, Franklin Templeton Mutual Fund held 40,364,364 shares, representing 5.095% of the company's equity. Following the sale, the fund's residual holding stands at 39,750,546 shares. The total equity share capital of Lemon Tree Hotels Ltd remained unchanged at 792,246,464 shares before and after the transaction. The seller clarified that it does not belong to the promoter or promoter group of the target company.

The breakdown of the transaction across various schemes reveals that the entire sale of 613,818 shares was conducted through the Franklin India Multi Cap Fund. Other schemes under the Franklin Templeton umbrella, including the Franklin India Small Cap Fund, Franklin India Opportunities Fund, and Franklin India Flexi Cap Fund, maintained their existing holdings without any changes. The Franklin India Multi Cap Fund's post-sale holding stands at 23,96,338 shares, or 0.302% of the total share capital.

The following table details the pre-sale and post-sale holdings of Franklin Templeton Mutual Fund across its various schemes:

Name of the schemes	Pre-sell holdings		Number of Shares Sold	% of Total shares	Post-sell holdings
	No. of shares	% of Total shares			No. of shares	% of Total shares
Franklin India Small Cap Fund	1,44,70,368	1.826%	0	0.000%	1,44,70,368	1.826%
Franklin India Opportunities Fund	90,02,650	1.136%	0	0.000%	90,02,650	1.136%
Franklin India Flexi Cap Fund	76,82,853	0.970%	0	0.000%	76,82,853	0.970%
Franklin India ELSS Tax Saver Fund	33,03,337	0.417%	0	0.000%	33,03,337	0.417%
Franklin India Multi Cap Fund	30,10,156	0.380%	6,13,818	0.077%	23,96,338	0.302%
Franklin India Balanced Advantage Fund	13,95,690	0.176%	0	0.000%	13,95,690	0.176%
Franklin India Aggressive Hybrid Fund	13,49,310	0.170%	0	0.000%	13,49,310	0.170%
Franklin India Retirement Fund	1,20,000	0.015%	0	0.000%	1,20,000	0.015%
Franklin India Conservative Hybrid Fund	30,000	0.004%	0	0.000%	30,000	0.004%
Total	4,03,64,364	5.095%	6,13,818	0.077%	3,97,50,546	5.017%

The disclosure was signed by Saurabh Gangrade, Compliance Officer for Franklin Templeton Mutual Fund, on June 18, 2026. Copies of the filing were submitted to BSE Ltd and the National Stock Exchange of India Ltd for public record.