Lemon Tree Hotels

OYO-owned Weddingz.in on Thursday announced a strategic tie-up with Lemon Tree Hotels in a bid to boost revenue, drive demand and sales. The alliance will help increase the fill rate of banquets and event spaces in Lemon Tree Hotels, in more than 40 destinations across the country, including Delhi NCR, Jaipur, Kolkata, Lucknow, Bhubaneswar, Mumbai and Pune, among others. Weddingz.in is an online platform offering wedding venues and related services. It was acquired by hospitality tech firm OYO in 2018. "Lemon Tree venues will feature prominently on the Weddingz.in platform, which gets over 19 lakh prospective customers per month, as India's largest wedding venue marketplace," a release stated. Weddingz will craft specific targeted campaigns and undertake search engine marketing and performance marketing campaigns to drive higher interest, it added. "We have millions of visitors searching our platform not just for wedding venues but also for other events such as parties, conference

It is interesting to see that the new business opportunity is fuelled by India's G20 presidency. The G20 meetings have added to the demand in cities that are slated to host key events

Stocks to Watch: NCLT has admitted IndusInd Bank's Insolvency Plea against Zee Entertainment; Sri Lanka's Board of Investment have approved two wind power plants by Adani Green Energy

Stocks to Watch: M&M has entered into an asset transfer agreement for certain identified assets related to four-wheeler passenger electric vehicles with Mahindra Electric Automobile

Occupancy rate is expected to improve further from the pre-pandemic levels, on the back of strong demand drivers including resumption in foreign inbound travel, says analyst at Motilal Oswal.

The increasing traction in corporate travel will benefit us to a great extent as more than 85 per cent of the company's inventory is in business hotels, the company said in its annual report.

Stocks to Watch today: Uber has decided to put its entire 7.8 per cent stake in Zomato on the block, according to sources.

Lower costs, improving occupancies as well as room rents augur well

Brokerage house ICICI Securities has given a 'buy' call for hospitality stocks such as Indian Hotels Company and Lemon Tree Hotels.

Closing Bell: The benchmarks were bogged down by Maruti Suzuki, Dr Reddy's Labs, Bajaj Auto, Hero MotoCorp, ICICI Bank, HDFC twins, Eicher Motors, and Sun Pharma

Analysts anticipate a faster recovery in the demand environment and are hopeful that consumption will reach normalised pre-Covid levels in H1FY23

While Q2FY22 witnessed a sharp rebound in revenues on a lower base, ICICI Securities expect a further recovery in revenues during Q3FY22E supported by healthy festive season travel demand.

Stock market LIVE: The broader markets also ended with notable losses as profit-taking continued for the third straight trading session, amid valuation and inflation concerns

Energy Efficiency Services Ltd (EESL), a joint venture under the Ministry of Power, has signed a MoU with Lemon Tree Hotels Ltd for implementing energy efficiency and conservation measures

At the bourses, 'unlock trade' has been playing out well over the past few weeks with stocks from the related sectors on a run

"Apparently, Warburg was not happy with the way the JV had progressed in the last two-three years," said sources

On account of being highly leveraged, 15 per cent of the total 160,000 rooms are at a risk of being shuttered forever according to hotel industry estimates

For the quarter ended June 2020, the company's revenue from operations declined 71.1 per cent year-on-year (YoY) to Rs 40.7 crore.

Revenue from operations went up 17 per cent to Rs 176 crore in Q4 FY20 from Rs 150 crore in the same quarter of previous fiscal

Firms to set up isolation rooms, led by Apollo Hospitals