Lemon Tree's (LTH) business was severely affected by lockdown in Q1FY21. Revenues fell 71.1% YoY to | 40.7 crore (vs. I-direct estimate: | 43.7 crore) as only 71% of its inventory was operational. Occupancy in operational hotels was at 40.4%, leading to average occupancy of 28.9% for the quarter. Average room rates were also down 34.4% YoY to | 2626/room. Key demand segments for business were Indians returning from abroad, global IT majors for their business continuity and on duty doctors & paramedical staffs. Total expenses were at | 36.3 crore in Q1FY21, down 62.2% YoY vs....