April 24, 2017 10:23 AM ET

Hotels, Restaurants and Leisure

Company Overview of Lemon Tree Hotels Ltd.

Company Overview

Lemon Tree Hotels Ltd. owns and operates a chain of business and leisure hotels in India. Its amenities include restaurants, cafés, recreation bars, pools, fitness centers, and business centers and meeting rooms. Lemon Tree Hotels Ltd. was formerly known as Krizm Hotels Pvt. Ltd. The company was incorporated in 1992 and is based in New Delhi, India with hotels in Ahmedabad, Aurangabad, Bangalore, Chandigarh, Chennai, Dehradun, Delhi, Goa, Gurgaon, Hyderabad, Indore, Jaipur, Kerala, Pune, and Vadodara, India.

Asset No. 6

Aerocity Hospitality District

IGI Airport

New Delhi,  110037

India

Founded in 1992

Phone:

91 11 4605 0101

Fax:

91 11 4605 0110

Key Executives for Lemon Tree Hotels Ltd.

Chairman and Managing Director
President and Chief Revenue Officer
Chief Financial Officer and Executive Vice President of Finance
Executive Vice President of Corporate Affairs
Executive Vice President of Projects & Engineering Services
Compensation as of Fiscal Year 2016.

Lemon Tree Hotels Ltd. Key Developments

Lemon Tree Hotels Mulls Sale Of Premier Inn And Aloft

Lemon Tree Hotels Ltd. is seeking sale of Premier Inn and Aloft. Patu Keswani, chairman of Lemon Tree Hotels, said, “More distress deals will happen in 2017. Premier Inn and Aloft are up for sale.”

Lemon Tree In Talks To Acquire Optus Hotel Portfolio

Lemon Tree is in talks to acquire Optus hotel portfolio. Lemon Tree Hotels Ltd. backed by APG Asset Management NV and Warburg Pincus LLC has initiated discussions with Optus Group that operates one hotel each in Gurgaon and Bhiwadi. The deal is expected to conclude in a few weeks from now. While details about the structure of this deal are not known yet, industry sources told dna that both parties are working on the modalities. "Among options being explored include a possibility wherein Lemon Tree could pick up a majority stake in the realtor Optus's hotel assets," said one of the sources. When contacted Patu Keswani, Chairman and Managing Director of Lemon Tree Hotels, did not offer a comment. While confirming the two are in talks, Vijay Girdhar, Chairman and Managing director, Optus Group said that nothing has been finalized as yet, dna reported.

Firms Eyeing Taj Mansingh Hotel

A number of investors are said to be interested in acquiring a stake in The Taj Mahal Hotel (Taj Mansingh Hotel), if it is put up for sale by New Delhi Municipal Council. According to news report, an auction could see bidding from firms like SAMHI Hotels Private Limited, Lemon Tree Hotels Ltd., and other foreign institutional investors as well as private equity funds. SAMHI’s Chief Executive Officer, Ashish Jakhanwala stated, “At a broad level, yes, we would be interested in bidding for the property.” However, he added that a number of issues needed to be clarified before that, like the tenure of the lease and whether it is fixed or variable. Chairman of Lemon Tree Hotels, Patu Keswani said, “We are always keen for good quality assets but we are not into the trophy asset business. So, if it's a 30-year lease, unlikely. If it's longer, we will be interested.” He added that said if it is an open auction and there is no right of first refusal, then like most others international and domestic hotel companies, the company too would like to bid. Starwood Hotels & Resorts Worldwide Inc. (NYSE:HOT) Managing Director, India, Dilip Puri said that Starwood will not bid as it does not invest in real estate, if investors bid for it and got it, the company will like to manage the property. Previously, Accor S.A. (ENXTPA:AC), Oberoi Realty Limited (BSE:533273), ITC Limited (NSEI:ITC), and Sahara India Pariwar Ltd. had expressed interest in bidding for the property. PRS Oberoi, Chairman of EIH Ltd. (BSE:500840) which owns the Oberoi, had told ET in 2012 that he would be interested if the price was in range. The report added that Vikram Oberoi, EIH Managing Director, declined to comment.

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