Lemon Tree Hotels announces signing of MoU with Omaxe for operating 4,000 keys
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Carnation Hotels Private Limited has signed a Memorandum of Understanding with Omaxe Limited for a new hospitality venture. This partnership aims to operate 4,000 keys in key Indian destinations including travel and pilgrimage hotspots. The collaboration focuses on tier-two and tier-three cities to meet growing accommodation demands. Both companies bring extensive expertise in real estate development and hotel management.
Carnation Hotels Private Limited, a wholly owned subsidiary of Lemon Tree Hotels Limited, said on Friday it has entered into a Memorandum of Understanding with real estate developer Omaxe Limited to operate 4,000 keys in multiple key destinations in India.The company said the proposed hospitality sites shall be located in transit hubs, pilgrimage destinations and commercial districts spanning Lucknow, Vrindavan, Amausi, Amritsar, Ghaziabad, Greater Noida, Kaushambi and Faridabad.
The company said it is the largest single operating arrangement, increasing its development pipeline to nearly 16,000 keys in total.
Neelendra Singh, managing director, Lemon Tree Hotels Limited, said tier-two and tier-three cities have long been central to the company's India growth strategy, and this operating arrangement lets it scale it faster, from transit hubs in Lucknow to temple towns like Vrindavan.
"Omaxe brings nearly four decades of real estate development experience across these markets, while Lemon Tree brings over two decades of hospitality expertise and guest trust," he said.
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"This alliance combines developer scale with operating strength, and two trusted Indian brands with a proven record of execution, to build the next phase of growth. This will accelerate Lemon Tree Hotels’ asset-light growth strategy, enabling the company to expand its managed portfolio across diverse markets and asset formats," he added.
Mohit Goel, managing director, Omaxe Ltd. said India’s hospitality opportunity is expanding beyond established metropolitan markets, with tier two and tier three cities emerging as important destinations for business, leisure and pilgrimage travel. "Temple towns, growing commercial centres and transit hubs, each have distinct accommodation needs, creating an opportunity to develop hospitality assets that are aligned with the demand drivers of their respective markets," he said.
"Our arrangement with Lemon Tree Hotels brings established operating expertise to this strategy, while our sale-led development model enables us to pursue this expansion with a disciplined approach to capital deployment," he added.
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Figures reflect the source report and its stated period. This article is for information and is not investment advice.
