Lemon Tree Hotels To Invest Rs 600 Crore By End Of FY 16 – Financial Chronicle – 1-Dec-2014
December 4, 2014 - Uncategorized
Hospitality chain Lemon Tree Hotel Company plans to invest around Rs 600 crore to open 900 rooms across India by the end of next financial year.
“We plan to add 900 rooms across the country at an investment of around Rs 600 crore by the end of next fiscal year,” Lemon Tree Hotel Company President and Executive Director Rahul Pandit told PTI.
Out of these, 750 rooms will be in the new five hotels the company will be opening across our brands while 150 rooms will be added in Delhi, he added.
Founded in September, 2002 by Patu Keswani, Lemon Tree Hotels Company at present owns and operates 26 hotels in 15 cities with 3,000 rooms and over 3,000 employees.
While the Vadodara hotel will be under the Lemon Tree brand, the three hotels in Gurgaon will be under brands Lemon Tree Premier, Lemon Tree and Red Fox. The hotel in Mumbai will be a Lemon Tree, Pandit said.
He was speaking on the sidelines of the launch of it’s Mega Sale-2015, a limited period offer that claims to give rooms at Rs 2,015/night across most of its hotels.
The company operates hotels across its three brands–Lemon Tree Premier, which is a upscale brand, Lemon Tree Hotels that caters to midscale segment and Red Fox Hotels that is the economy brand of the company.
Asked about the segment that the company is focusing on for future growth, Pandit said: “The focus is mainly on the domestic travellers. At present, 85 per cent of our guests are from this segment.”
Domestic tourism is growing and will further grow as season and off-season lines get blurred, the frequency of travel increases and connectivity even by roads gets better, he added.