With 14 hotels operational (having 2,000 rooms), six hotels under various stages of development, Lemon Tree Hotels aims to mark its presence across 54 cities with 8,000 rooms in India by 2020.
Currently, the company is focussing in Northern, Western and Southern regions of India. However, after five years, Lemon Tree Hotels will decide upon expanding its base in Eastern region of the country. The company also plans to go for an IPO in the next two to three years.
Talking about the key factors while selecting a city for hotel development, Rahul Pandit, Vice President - Operations, Lemon Tree Hotels said, “A city is selected keeping in mind three crucial parameters (a) over one million population (b) air connectivity (c) Socio-Economic Classification (Sec A). And, hence, we have reached the figure of 54 for developing our hotel chain. Presently, the Eastern part of the country faces infrastructural issues and lack of political stability.”
Lemon Tree Hotels owns, builds, designs and operates its hotels. However, in a bid to grow faster, Pandit informed, “Besides greenfield projects, we shall also take up brownfield projects in near future.” The cost per key is Rs 35-50 lakh for a Lemon Tree Hotel.
Upcoming projects
Lemon Tree Hotel, I.B.P. Chandigarh with 85 rooms will be operational by Quarter Two of 2011; Lemon Tree Hotel, Delhi International Airport with 285 rooms will be operational by 2012. In addition, Lemon Tree Hotel at Andheri in Mumbai with 315 rooms; Lemon Tree Hotel, Sector 60, Gurgaon with 126 rooms; Lemon Tree Hotel, City Centre, Pune with 238 rooms and Lemon Tree Mountain View Resort at Shimla with 72 rooms are expected to open in 2013.
Source
Currently, the company is focussing in Northern, Western and Southern regions of India. However, after five years, Lemon Tree Hotels will decide upon expanding its base in Eastern region of the country. The company also plans to go for an IPO in the next two to three years.
Talking about the key factors while selecting a city for hotel development, Rahul Pandit, Vice President - Operations, Lemon Tree Hotels said, “A city is selected keeping in mind three crucial parameters (a) over one million population (b) air connectivity (c) Socio-Economic Classification (Sec A). And, hence, we have reached the figure of 54 for developing our hotel chain. Presently, the Eastern part of the country faces infrastructural issues and lack of political stability.”
Lemon Tree Hotels owns, builds, designs and operates its hotels. However, in a bid to grow faster, Pandit informed, “Besides greenfield projects, we shall also take up brownfield projects in near future.” The cost per key is Rs 35-50 lakh for a Lemon Tree Hotel.
Upcoming projects
Lemon Tree Hotel, I.B.P. Chandigarh with 85 rooms will be operational by Quarter Two of 2011; Lemon Tree Hotel, Delhi International Airport with 285 rooms will be operational by 2012. In addition, Lemon Tree Hotel at Andheri in Mumbai with 315 rooms; Lemon Tree Hotel, Sector 60, Gurgaon with 126 rooms; Lemon Tree Hotel, City Centre, Pune with 238 rooms and Lemon Tree Mountain View Resort at Shimla with 72 rooms are expected to open in 2013.
Source