Lemon Tree Terminates Erode Hotel Agreements

Agreements Terminated

The Company has terminated the License Agreement dated September 08, 2022 and its addendum. This termination follows the termination of the Hotel Operating Agreement (HOA) and its addendum executed between the property owner and operator.

Parties Involved

The agreements were among:

• Lemon Tree Hotels Limited (Company)
• Hotel Le Jardin (Owner)
• M/s. Carnation Hotels Private Limited (Operator)

Property Details

The termination concerns the Lemon Tree Hotel located in Erode, Tamil Nadu, which has 65 rooms.

Termination Trigger

The termination was executed on account of material breach of the terms of the Hotel Operating Agreement by the counterparties.

Termination Date

The Company issued a termination letter dated July 16, 2026 to the Owner. The termination shall become effective upon the expiration of five (5) business days from the date of the termination letter.

Financial Impact

The company explicitly states that the termination of the agreements does not have any material financial impact on the Company.