Lemon Tree Hotels earnings calls.

Lemon Tree Hotels reported its highest-ever Q3 revenue of ₹407.8 croreCurrent reported value: ₹407.8 crore. No comparable prior figure is available in the source record. (up 15Current 15 crore vs previous available quarter 18 crore.% YoY), though EBITDA margin contracted 133bps to 50.6Current 50.6 crore vs previous available quarter 44.8 crore.% due to elevated renovation, technology investment, and GST headwinds totaling 6.4% of revenue. PAT grew only 2Current reported value: 2. No comparable prior figure is available in the source record.% YoY to ₹81.8Current reported value: 81.8. No comparable prior figure is available in the source record. crore after a ₹31.3 crore exceptional charge (labor code gratuity and property tax). The asset-light segment showed promise with management fees up 24% YoY to ₹22.9 crore from third-party hotels, while owned hotel fees remained flat. Occupancy declined 82bps to 73.4% amid deliberate repricing in Hyderabad (+25% ADR) and ongoing renovations affecting ~1,200 rooms. The Auria brand continues its Mumbai stabilization journey, reaching 79% occupancy with ARR expansion expected in Q4. Management targets expense reduction to 3.5% of revenue by FY28, guiding for at least 15% revenue growth in FY27 with existing portfolio. The upcoming demerger of Auria will leave Lemon Tree as a debt-free, asset-light entity. Key risks include Gurgaon's persistent weakness, ongoing renovation disruption in Bangalore, and the extended stabilization timeline for large owned properties.