In a recent interview, Patanjali Keswani, Chairman and MD of Lemon Tree Hotels, revealed the company’s plans to expand by opening over 20 hotels in the upcoming financial year, adding approximately 2,000 rooms. The Aurika hotel in Mumbai, which is under construction, will account for all capital investment. Keswani explained that the company is looking to manage 70% of its total inventory in the next three to four years. Currently, 45% of the company’s hotel inventory is managed by Lemon Tree Hotels. The Chairman added that demand for branded hotels in India is directly correlated to the rate of economic growth, and he predicts a 15% annual growth rate in hotel prices in the branded sector over the next four to five years.
Lemon Tree Hotels plans to expand rapidly, with the addition of 20 hotels and 2,000 rooms in FY24