Lemon Tree Hotels Limited has terminated the License Agreement dated August 22, 2022, which was executed among the Company, M/s. HRK Hospitality (Owner), and M/s. Carnation Hotels Private Limited (Operator). This termination follows the termination of the Hotel Operating Agreement (HOA) executed between the Owner and Operator on the same date (August 22, 2022).
The termination pertains specifically to the hotel operated under the brand name "Lemon Tree Hotel, Hubli". The termination was effected by issuing a termination letter to the Owner on July 10, 2026, citing a material breach of the terms of the HOA by the counterparty.
The termination will become effective upon the expiration of five (5) business days from the date of the termination letter (July 10, 2026).
The company explicitly states that this termination of agreements does not have any material financial impact on the Company.
This disclosure is made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The document was signed by Pawan Kumar Kumawat, Company Secretary & Compliance Officer (Membership No: A25377) on behalf of Lemon Tree Hotels Limited.