financeasianhospitality.com··1 min·For: Owner, Investor, Revenue, GM
Lemon Tree Hotels Q2 Profit Surges 90% as RevPAR Jumps
Lemon Tree Hotels delivered strong Q2 results fueled by concurrent gains in occupancy and ADR, alongside rapid pipeline expansion. Total revenue rose 18% to $38.68 million while net profit jumped 90% to $8.49 million.
Key Takeaways
- 1RevPAR increased 18% to $54.62, supported by a 633 bps occupancy jump to 76.1% and an 8% rise in ADR.
- 2Opened 8 hotels with 523 keys and signed 11 properties totaling 825 keys during the quarter.
- 3Acquired land in Bandra East, Mumbai, for $12.76 million to develop a 172-key Lemon Tree Premier.
Source: asianhospitality.com
Keep reading
Our reporting
More in finance