Realty firm Omaxe Ltd has signed an initial pact with Lemon Tree Hotels' arm to manage 10 hospitality projects being developed by the company with an investment of Rs 4,000 crore. In a regulatory filing on Friday, the company informed that it has entered into an MoU (Memorandum of Understanding) with Carnation Hotels Pvt Ltd, a wholly-owned subsidiary of Lemon Tree Hotels, to operate 10 hotel projects across India, comprising 4,000 keys. The 10 projects entail an estimated investment of about Rs 4,000 crore and span Lucknow, Vrindavan, Amausi, Ghaziabad, Greater Noida, Amritsar, Kaushambi and Faridabad. This is part of Omaxe's planned Rs 6,200 crore investments to develop 19 hospitality projects across five states. Mohit Goel, Managing Director, Omaxe Ltd, said, "India's hospitality opportunity is expanding beyond established metropolitan markets, with Tier 2 and Tier 3 cities emerging as important destinations for business, leisure and pilgrimage travel." He noted that temple tow
ICICI Securities has reiterated its 'Buy' rating on ITC Hotels, Indian Hotels Company, Leela Palaces Hotels & Resorts, Chalet Hotels, Lemon Tree Hotels and Brigade Hotel Ventures.
From a structural standpoint, the Indian hospitality sector continues to benefit from favourable demand-supply dynamics and sustained growth in domestic travel
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In February, Lemon Tree Hotels shares plunged 16 per cent, Chalet Hotels tanked 14 per cent, Indian Hotels Company (IHCL) slipped 5 per cent and ITC Hotels fell 8 per cent
India is expected to become the world's fourth-largest outbound tourism market by 2035, behind the U.S., China and Germany, rising from 10th place, Capital Economics said last year
The brokerage preference remains hotels over aviation and luggage within the travel and related consumption basket, reflecting stronger earnings visibility in hotels
As part of the transaction, Warburg Pincus has acquired APG's entire 41 per cent stake in Fleur and committed up to ₹960 crore of primary equity to fund Fleur's growth.
The hotel company will see a restructuring with the separation of asset ownership from the brand and reorganisation, which will create two complementary platforms
Warburg Pincus will acquire APG Strategic Real Estate Pool N.V's 41.09 per cent stake in Fleur Hotels. The global private equity investment firm will also infuse ₹960 crore of capital.
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Lemon Tree Hotels announces strategic reorganisation, Fleur to be listed on bourses separately
Lemon Tree Hotels management has guided for mid-teens revenue growth driven by a busy wedding season, surge in MICE activities, higher share from Aurika, Mumbai and contribution from new hotels
The structural outlook remains favourable, analysts said. Mumbai contributes nearly 15 per cent to India's hotel room revenue and disproportionately dominates the luxury segment.
The buying on the counter came after the company announced the signing of two new properties - Lemon Tree Hotel, Surat Airport and Keys Prima by Lemon Tree Hotels, Haridwar
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Lemon Tree Hotels share price was quoting 3.25 per cent higher at ₹170.64 per share against the previous close of ₹165.27 on the NSE
Indian Hotels is aggressively expanding its presence in India's hospitality sector through its 'Accelerate 2030' roadmap, targeting growth in the midscale segment.