Lemon Tree Hotels (LEMONTRE) reported Q1FY24 consolidated revenue of INR2.2bn (up 16% YoY) in line with I-sec estimates as portfolio ARRs grew 8.6% YoY to INR5,237 while occupancies also increased by 514bps YoY to 70.2% resulting RevPAR growing 17% YoY to INR3,678.