Hotels & Restaurants · LEMONTRE
Hotels
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Lemon Tree Hotels reported healthy revenue growth of 9% YoY in 1QFY27, driven by strong occupancy expansion and scale-up through its asset-light strategy, prompting a reiterated BUY rating with a SoTP-based target price of INR140.
We broadly maintain our EBITDA estimates and maintain BUY with an SoTP based TP of INR 143, as we expect EBITDA margins to improve and revenue CAGR of 9% over FY26-FY28E led by inventory addition and renovation-led repricing.
Lemon Tree Hotels reported a steady Q1FY27 consolidated revenue of INR 3.4bn, up 9% YoY. We retain BUY with a revised TP of INR 151, owing to a ~2-3% cut in FY27/28 EBITDA estimates, while the Fleur Hotels restructuring remains a key monitorable.
Ratings and target prices as published by each firm. Each summary condenses that firm's stated view in its own note and is attributed to it; no report text is reproduced.
