Lemon Tree Hotels Ltd, founded in 2002 by Patu Keswani, stands as one of India’s largest mid-priced hotel chains, operating over 160 properties domestically and internationally. Catering to diverse segments, the company offers brands such as Aurika Hotels & Resorts, Lemon Tree Premier, Lemon Tree Hotels, Red Fox Hotels, Keys Prima, Keys Select, and Keys Lite. Known for its blend of comfort, affordability, and high-quality service, Lemon Tree Hotels appeals to both business and leisure travelers. Beyond its commercial success, the company prioritizes corporate social responsibility, employing individuals from underprivileged and disabled communities and promoting inclusive initiatives like adopting stray dogs across its properties. With a strategic focus on expansion and innovation, Lemon Tree has cemented its position as a leader in India’s mid-market hospitality sector.
Recent News on Lemon Tree Hotels
Lemon Tree Hotels has announced the expansion of its portfolio with two new properties in Varanasi, Uttar Pradesh, and Mussoorie, Uttarakhand. The Varanasi hotel, set to open in FY28, will feature 50 rooms, a restaurant, a bar, banquet facilities, a fitness center, and a swimming pool, catering to both spiritual tourism and the city’s vibrant cultural heritage. Meanwhile, the Mussoorie property, scheduled to open by FY26, will include 60 rooms with modern amenities such as a heated pool, a spa, and recreation areas, enhancing the hospitality offerings in this popular hill station.
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | |
| Promoters + | 23.28% | 23.21% | 22.87% | 22.80% | 22.77% |
| FIIs + | 24.82% | 22.82% | 27.09% | 27.61% | 21.75% |
| DIIs + | 13.41% | 15.00% | 15.35% | 15.20% | 18.91% |
| Public + | 38.41% | 38.90% | 34.62% | 34.34% | 36.51% |
| Others + | 0.07% | 0.07% | 0.06% | 0.06% | 0.06% |
| No. of Shareholders | 2,81,003 | 2,98,123 | 3,25,800 | 3,30,910 | 3,57,968 |
The shareholding pattern of Lemon Tree Hotels has shown dynamic shifts across different quarters, reflecting changing investor sentiments and market trends. As of September 2023, promoter holdings stood at 23.28%, experiencing a gradual decline to 22.77% by September 2024. Foreign Institutional Investors (FIIs) displayed notable volatility, with their stake peaking at 27.61% in June 2024 before dropping sharply to 21.75% by September 2024. Domestic Institutional Investors (DIIs) have steadily increased their holdings, rising from 13.41% in September 2023 to 18.91% by September 2024, highlighting growing domestic confidence in the company.
The public shareholding fluctuated slightly, from 38.41% in September 2023, decreasing to 34.34% in June 2024, and rising again to 36.51% by September 2024. Other investors consistently maintained a minor stake of 0.06%-0.07%. The total number of shareholders grew significantly, from 2,81,003 in September 2023 to 3,57,968 by September 2024, reflecting broader participation and interest in Lemon Tree Hotels. This pattern indicates a dynamic balance between institutional and retail investors.
Below are the trading platforms that you can use to purchase Lemon Tree Hotels shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| December 2024 | 153.05 | 133.09 |
In December 2024, Lemon Tree Hotels stock price is anticipated to exhibit a maximum price of ₹153.05 and a minimum price of ₹133.09.
| When | Maximum Price | Minimum Price |
| January 2025 | 154.58 | 118.91 |
| February 2025 | 156.15 | 120.11 |
| March 2025 | 159.43 | 122.63 |
| April 2025 | 157.85 | 121.42 |
| May 2025 | 153.25 | 117.88 |
| June 2025 | 160.15 | 123.19 |
| July 2025 | 157.01 | 120.77 |
| August 2025 | 161.86 | 124.51 |
| September 2025 | 163.80 | 126.00 |
| October 2025 | 168.06 | 129.28 |
| November 2025 | 172.26 | 132.51 |
| December 2025 | 180.02 | 138.47 |
As we move into 2025, the stock price of Lemon Tree Hotels Ltd is projected to show a positive trajectory. Starting with January, prices are expected to range between ₹154.58 and ₹118.91, gradually increasing through the months. By mid-year, in June, the range is likely to reach ₹160.15 to ₹123.19, reflecting steady growth. Towards the latter half, notable peaks are anticipated, with September ranging from ₹163.80 to ₹126.00 and November seeing a maximum of ₹172.26 and a minimum of ₹132.51. As we move to December 2025, the year is expected to close on a high note with a maximum price of ₹180.02 and a minimum of ₹138.47.
| When | Maximum Price | Minimum Price |
| January 2026 | 185.42 | 142.63 |
| February 2026 | 180.78 | 139.06 |
| March 2026 | 184.40 | 141.84 |
| April 2026 | 188.16 | 144.74 |
| May 2026 | 186.30 | 143.31 |
| June 2026 | 190.95 | 146.89 |
| July 2026 | 187.21 | 144.01 |
| August 2026 | 193.00 | 148.46 |
| September 2026 | 196.86 | 151.43 |
| October 2026 | 201.98 | 155.37 |
| November 2026 | 207.03 | 159.25 |
| December 2026 | 212.20 | 163.23 |
| When | Maximum Price | Minimum Price |
| January 2027 | 214.33 | 164.87 |
| February 2027 | 219.82 | 169.09 |
| March 2027 | 228.39 | 175.69 |
| April 2027 | 223.92 | 172.24 |
| May 2027 | 217.39 | 167.23 |
| June 2027 | 227.18 | 174.75 |
| July 2027 | 222.72 | 171.32 |
| August 2027 | 229.61 | 176.62 |
| September 2027 | 237.65 | 182.81 |
| October 2027 | 243.83 | 187.56 |
| November 2027 | 249.92 | 192.25 |
| December 2027 | 256.17 | 197.05 |
| When | Maximum Price | Minimum Price |
| January 2028 | 261.29 | 200.99 |
| February 2028 | 267.99 | 206.15 |
| March 2028 | 278.44 | 214.19 |
| April 2028 | 272.98 | 209.99 |
| May 2028 | 265.03 | 203.87 |
| June 2028 | 276.96 | 213.05 |
| July 2028 | 271.53 | 208.87 |
| August 2028 | 279.93 | 215.33 |
| September 2028 | 289.72 | 222.87 |
| October 2028 | 297.26 | 228.66 |
| November 2028 | 304.69 | 234.38 |
| December 2028 | 312.31 | 240.24 |
| When | Maximum Price | Minimum Price |
| January 2029 | 318.55 | 245.04 |
| February 2029 | 326.72 | 251.32 |
| March 2029 | 339.46 | 261.12 |
| April 2029 | 332.81 | 256.00 |
| May 2029 | 323.11 | 248.55 |
| June 2029 | 337.65 | 259.73 |
| July 2029 | 331.03 | 254.64 |
| August 2029 | 341.27 | 262.52 |
| September 2029 | 353.21 | 271.70 |
| October 2029 | 362.40 | 278.77 |
| November 2029 | 371.46 | 285.74 |
| December 2029 | 380.74 | 292.88 |
| When | Maximum Price | Minimum Price |
| January 2030 | 388.36 | 298.74 |
| February 2030 | 398.32 | 306.40 |
| March 2030 | 413.85 | 318.35 |
| April 2030 | 405.74 | 312.11 |
| May 2030 | 393.92 | 303.02 |
| June 2030 | 411.65 | 316.65 |
| July 2030 | 403.57 | 310.44 |
| August 2030 | 416.06 | 320.04 |
| September 2030 | 430.62 | 331.24 |
| October 2030 | 441.81 | 339.86 |
| November 2030 | 452.86 | 348.35 |
| December 2030 | 464.18 | 357.06 |
As we step into 2030, the stock price of Lemon Tree Hotels Ltd is projected to display significant growth and resilience. Starting in January, the prices are expected to range between ₹388.36 and ₹298.74, with February seeing an increase to ₹398.32 and ₹306.40. By March, the upward trend continues with prices forecasted between ₹413.85 and ₹318.35. As we step into the mid-year months, such as June, prices are expected to range from ₹411.65 to ₹316.65. The latter half of the year indicates stronger momentum, with September anticipated to see a range of ₹430.62 to ₹331.24, and November reaching ₹452.86 to ₹348.35. Closing the year in December 2030, the stock is forecasted to peak at ₹464.18, with a minimum of ₹357.06.
Financial Condition of Lemon Tree Hotels
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
| Sales + | 669 | 252 | 402 | 875 | 1,071 | 1,168 |
| Expenses + | 429 | 194 | 283 | 427 | 548 | 612 |
| Operating Profit | 241 | 57 | 119 | 448 | 523 | 557 |
| OPM % | 36% | 23% | 30% | 51% | 49% | 48% |
| Other Income + | 11 | 22 | 22 | 10 | 13 | 7 |
| Interest | 162 | 190 | 181 | 182 | 208 | 209 |
| Depreciation | 92 | 108 | 104 | 97 | 112 | 136 |
| Profit before tax | -2 | -219 | -145 | 178 | 216 | 219 |
| Tax % | 499% | -15% | -5% | 21% | 16% | |
| Net Profit + | -13 | -187 | -137 | 141 | 182 | 183 |
| EPS in Rs | -0.12 | -1.6 | -1.1 | 1.45 | 1.87 | 1.92 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
The financial journey of Lemon Tree Hotels from March 2020 to March 2024 highlights a remarkable turnaround in performance. Sales have demonstrated consistent growth, starting at ₹669 crore in March 2020 and climbing to ₹1,071 crore in March 2024, with the trailing twelve months (TTM) reporting an even higher ₹1,168 crore. This revenue growth has been accompanied by a steady rise in operating profits, which grew from ₹241 crore in March 2020 to ₹523 crore in March 2024 and further improved to ₹557 crore in the TTM period. Notably, the company achieved a significant increase in its Operating Profit Margin (OPM), which surged from 36% in 2020 to a strong 49% in 2024, reflecting improved operational efficiency and cost control.
While the company’s operating performance strengthened, high fixed costs like interest and depreciation remained challenges. Interest expenses, which were ₹162 crore in March 2020, rose to ₹209 crore by the TTM period, reflecting debt-financed expansions. Similarly, depreciation costs increased from ₹92 crore in March 2020 to ₹136 crore in the TTM period. Despite these pressures, the Profit Before Tax (PBT) transitioned from a loss of ₹2 crore in 2020 to a robust profit of ₹216 crore in 2024. Net profits followed suit, with the company reporting a turnaround from a loss of ₹13 crore in 2020 to a profit of ₹182 crore in 2024, and an Earnings Per Share (EPS) of ₹1.87. The company’s effective tax rate varied over the years, stabilizing at 16% in March 2024.
Lemon Tree Hotels maintained a conservative stance on dividend distribution, with a 0% Dividend Payout Percentage across all the years from 2020 to 2024.
FAQs
What is Lemon Tree Hotels current market capitalization?
Lemon Tree Hotels current market capitalization is ₹10,325 crore.
The projected share price target for Lemon Tree Hotels in 2025 ranges from ₹117.88 to ₹180.02.
The projected share price target for Lemon Tree Hotels in 2030 ranges from ₹298.74 to ₹464.18.
What is Lemon Tree Hotels current price-to-earnings (PE) ratio?
Lemon Tree Hotels current price-to-earnings (PE) ratio is 68.0.
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Conclusion
In conclusion, Lemon Tree Hotels Ltd. has established itself as a prominent player in India’s mid-market hospitality sector, marked by consistent expansion, brand diversification, and a strong commitment to corporate social responsibility. Its financial trajectory from 2020 to 2024 highlights strong revenue growth and improved operational efficiency, evidenced by rising sales, operating profits, and OPM%. Despite challenges like high interest and depreciation costs, the company’s strategic focus on growth and innovation has strengthened its market position.
Looking forward, the share price projections by the end of 2024 to 2030 indicate steady growth potential, reflecting investor confidence and Lemon Tree’s ability to adapt to evolving market demands. With new properties in strategic locations and growing institutional and retail interest, Lemon Tree Hotels is poised for sustainable long-term success.
What did we learn?
- 1 Recent News on Lemon Tree Hotels
- 2 Shareholdings Patterns of Lemon Tree Hotels
- 3 How to Purchase Lemon Tree Hotels Shares?
- 4 Lemon Tree Hotels Share Price Target 2024 – 2030
- 4.1 Lemon Tree Hotels Share Price Target 2024
- 4.2 Lemon Tree Hotels Share Price Prediction 2025
- 4.3 Lemon Tree Hotels Share Price Target 2026
- 4.4 Lemon Tree Hotels Share Price Target 2027
- 4.5 Lemon Tree Hotels Share Price Prediction 2028
- 4.6 Lemon Tree Hotels Share Price Target 2029
- 4.7 Lemon Tree Hotels Share Price Prediction 2030
- 5 Financial Condition of Lemon Tree Hotels
- 6 FAQs
- 7 Conclusion
