Hotline: 1800 102 2007
X
Search Business Opportunities
Mar, 18 2019

Lemon Tree Hotels inks pact to buy Keys Hotels

Lemon Tree will buy Keys Hotels from Berggruen Hotels Pvt Ltd for an undisclosed sum.

Warburg Pincus-backed Lemon Tree Hotels Ltd has signed an agreement to acquire Keys Hotels in a bid to expand its business in the mid-market hotel category.

Lemon Tree, India's third-largest mid-market hotel operator, will buy Keys Hotels from Berggruen Hotels Pvt Ltd for an undisclosed sum.

Post acquisition, New Delhi-based Lemon Tree will expand its operating portfolio to 75 hotels with 7,322 rooms in 44 cities in India. The brand is also planning to open 33 hotels with 3,389 rooms in 26 cities by 2020-21.

Keys Hotels owns seven hotels with 936 rooms in six cities of the country. It is further operating 14 hotels with 975 rooms in 14 cities under management or franchise agreements. In total, Keys Hotels is managing 21 hotels with 1,911 rooms in 19 cities.

Lemon Tree is operating hotels under three categories in the mid-priced segment, including the upper-midscale category called ‘Lemon Tree Premier’, the midscale segment ‘Lemon Tree Hotels’ and economy hotels under ‘Red Fox’.

Comment
image
Related opportunities
  • Beauty Salons
    Studio99 – Unisex Salons & Spa A journey from Coffee Shop..
    Locations looking for expansion Delhi
    Establishment year 2018
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Delhi Delhi
  • Bike Showroom
    About Us: CREDR BRIEF India’s largest Fully Integrated Ecosystem for Used Two-wheelers,..
    Locations looking for expansion New Delhi
    Establishment year 2015
    Franchising Launch Date 2017
    Investment size Rs. 30lac - 50lac
    Space required 1000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Delhi New Delhi
  • Quick Service Restaurants
    About Us: Conceptualized in Malaysia, Papparoti specializes in a unique mouthwatering..
    Locations looking for expansion Delhi
    Establishment year 2013
    Franchising Launch Date 2013
    Investment size Rs. 30lac - 50lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Fashion accessories - women
    About Us: Malaysia's Leading Chain of Fashion  & Lifestyle concept stores. The..
    Locations looking for expansion New Delhi
    Establishment year 2017
    Franchising Launch Date 2017
    Investment size Rs. 50lac - 1 Cr.
    Space required 800
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater South Delhi New Delhi
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities