Lemon Tree Hotels Ltd. (BSE: 543215) has officially commenced operations at its new 71-room resort in Nashik, according to an exchange filing dated September 25. The property, located in Girnare near the Gangapur Dam backwaters, represents a significant upgrade from the 57-room count disclosed to the BSE and NSE in September 2024. This expansion solidifies the brand's hold on the city, making it the second Lemon Tree property in Nashik.
The resort is designed to capture the leisure and MICE (Meetings, Incentives, Conferences, and Exhibitions) segments, featuring event spaces named Grand Tangerine and Tangerine. Management highlighted the venue's suitability for destination weddings and corporate retreats, aided by a landscaped lawn overlooking the dam. The property is managed by Carnation Hotels, a wholly owned subsidiary, which also includes amenities like a swimming pool, spa, and Citrus Café.
Timing is critical here. This launch follows the opening of the group's Keys Prima property in Nashik by just two days. This rapid deployment suggests an aggressive local strategy to consolidate market share in a high-growth tourism hub. The resort sits 33 km from Nashik Airport and 19 km from the central bus station, positioning it as a destination stay rather than a pure business hub.
On the broader scale, this addition brings Lemon Tree's operational count in Maharashtra to 16 hotels. The company has another 16 properties in the pipeline in the state, signaling continued capital allocation toward the western region. Nationally, the brand now operates over 130 hotels across 80+ cities, with more than 140 properties in its development pipeline, indicating a sustained expansion cycle rather than a one-off spike.