Lemon Tree Hotels

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Lemon Tree Hotels Ltd.
TypePublic
NSE: LEMONTREE
BSE: 541233
IndustryHospitality
Founded2002
FounderPatu Keswani
Headquarters6, Aerocity Hospitality District, New Delhi, 110037,
India
Number of locations
84 hotels (2019)[1]
Area served
India
WebsiteLemon Tree Hotels

Lemon Tree Hotels is a hotel chain company, based in India. The company owns and operates 84 hotels, with 8300 rooms in 52 cities of India.[2] It is India's largest hotel chain in the mid-priced hotel sector, and the 3rd largest overall, in terms of controlling interest in owned and leased rooms, as of 30 June 2017, according to the Horwath Report.[3][4][5][6][7][8]

History[]

Lemon Tree Hotels was founded in 2002 by Patu Keswani.[9] It opened its first hotel with 49 rooms in May 2004.[10]

In 2019, the company acquired Berggruen Hotels Private Limited for an enterprise value of ₹ 605 crores. At the time of acquisition, Berggruen Hotels owned 936 rooms and managed 975 rooms under the 'Keys' brand in 21 cities across India.[11]

Lemon Tree Hotels went public in early 2018 and was listed on the National Stock Exchange of India on 9 April 2018.[12]

Operations[]

A hotel in Hyderabad.

The company operates under 7 brands: Aurika Hotels and Resorts (upscale), Lemon Tree Premier (upper midscale), Lemon Tree Hotels (midscale) & Red Fox by Lemon Tree Hotels (economy), Keys Prima (upper midscale), Keys Select (midscale) and Keys Lite (economy).[13]

In India, its hotels are located in major destinations such as Ahmedabad, Aligarh, Alwar, Amritsar, Aurangabad, Baddi, Bandhavgarh, Bengaluru, Bhiwadi, Bhubaneswar, Calcutta, Chandigarh, Chennai, Coimbatore, Corbett, Dehradun, Delhi, Gangtok, Ghaziabad, Goa, Gurgaon, Hyderabad, Indore, Jaipur, Jhansi, Jammu, Kerala, Kolkata, Lucknow, Ludhiana, Manali, Manesar, Noida, Patna, Pune, Siliguri, Srinagar, Tiruchirappalli, Udaipur, Vijayawada, Visakhapatnam and Vadodara.

Corporate social responsibility[]

Currently, ~20% of group employees are from deprived and disabled segments of the population.[14][15]

A supporter of the NGO, PETA (People for Ethical Treatment of Animals), each of its hotels in India has an adopted dog mascot. It is the largest corporate adopter of stray dogs in India.[16]

References[]

  1. ^ "Lemon Tree Hotels to invest Rs 600 crore by next fiscal end". The Economic Times-The Times of India. Retrieved 30 November 2014.
  2. ^ "Lemon Tree Hotels News - Lemon Tree Hotels Announcement, Latest News on Lemon Tree Hotels". The Economic Times. Retrieved 23 August 2018.
  3. ^ "Lemon Tree Hotels files for IPO; Warbug Pincus to partially exit". VCCircle. 21 September 2017. Retrieved 23 August 2018.
  4. ^ "Lemon Tree Hotels' Audacious Plan | Forbes India". Forbes India. Retrieved 23 August 2018.
  5. ^ "Lemon Tree Hotels enters Vadodara". The Hindu Business Line. 3 February 2015. Retrieved 5 June 2015.
  6. ^ "Forbes India Magazine - Lemon Tree Hotels' Audacious Plan". Forbes.
  7. ^ Dev, Sudipta; Sule, Salil (2 January 2015). "Lemon Tree to come up with mega hotel project in Mumbai". The Financial Express. Retrieved 15 October 2018.
  8. ^ Chitravanshi, Ruchika (5 April 2014). "Lemon Tree Hotels eyeing luxury sector". Business Standard.
  9. ^ "Lemon Tree Hotels founded in September 2002 by Patu Keswani has acquired the erstwhile 130-room Clarion Hotel in Whitefield, Bangalore for Rs 64 crore in an all-cash deal. An additional Rs 11 crore will be spent on renovating and rebranding. "As the dominant player in the mid-market hotel segment, Lemon Tree Hotels is currently the third largest hotel owner in India, with over 2,850 operating rooms and another 1,200 under development," said Patu Keswani, chairman and MD, The Lemon Tree Hotel Company. - Times of India". The Times of India. Retrieved 23 August 2018.
  10. ^ "IPO : Issues Open Now >> Lemon Tree Hotels Ltd. : Services". moneycontrol.com. Retrieved 23 August 2018.
  11. ^ Mohile, Shally (1 July 2019). "Lemon Tree to buy Keys Hotels for Rs 471 cr, deal likely in two months". Business Standard. Retrieved 23 March 2020.
  12. ^ Verma, Swati (9 April 2018). "Lemon Tree Hotels makes decent debut, lists at 10% premium over issue price". The Economic Times. Retrieved 23 August 2018.
  13. ^ "Lemon Tree Hotels Plans To Expand Betting On Growing Demand". BloombergQuint. Retrieved 23 August 2018.
  14. ^ https://nasscomfoundation.org/get-engaged/nasscom-social-innovation-forum/past-winners/winners-2015/lemon-tree-hotel.html
  15. ^ "Lemon Tree wins 'Best Employer' National Award – Hotelier People". HotelierIndia.com. Retrieved 1 December 2016.
  16. ^ "Travel Trends Today". Traveltrendstoday.in. 10 August 2016. Retrieved 1 December 2016.
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