Fine performance from Lemon Tree.
Key points: –
Per mgmt, all India hotel occupancy stands at around 65% likely to increase to 70+ in the next 2 years with significant benefit likely for Lemon Tree.
Lemon Tree to focus more on retail customers than corporate
25% growth in 9M YOY seen on mgmt fees, which now contributes to ~13% of the revenue
The decrease in EBITDA margin Y-o-Y mainly due to planned increase in payroll and
renovation expenses and some impact of Aurika which is yet to stabalize
1.5 million loyalty members; 30%+ repeat customers
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