Hotline: 1800 102 2007
Hotline: 1800 102 2007
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.

Lemon Tree Hotels inks pact to buy Keys Hotels

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’.

sharebtn
Comment
user
email
mobile
address
star
Related opportunities
  • Others Food Service
    Zing Kitchens is a unique business proposition for new entrepreneurs..
    Locations looking for expansion Haryana
    Establishment year 2011
    Franchising Launch Date 2019
    Investment size Rs. 30lac - 50lac
    Space required 700
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Gurgaon Haryana
  • Laundry & Dry Cleaning
    About Us: At UClean, we are building India's first organized chain..
    Locations looking for expansion New Delhi
    Establishment year 2016
    Franchising Launch Date 2016
    Investment size Rs. 10lac - 20lac
    Space required 350
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater South Delhi New Delhi
  • Packaged Food Products & Supply
    H.P. Horticulture Produce Marketing & Processing Corporation (HP State Government..
    Locations looking for expansion Punjab
    Establishment year 1974
    Franchising Launch Date 2020
    Investment size Rs. 5lac - 10lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Ropar Punjab
  • Juices / Smoothies / Dairy Parlors
    About Us: Aarkali retails private limited clothing brand for Women is..
    Locations looking for expansion Delhi
    Establishment year 2018
    Franchising Launch Date 2019
    Investment size Rs. 10lac - 20lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities