Lemon tree hotels to invest Rs 850 crore
Of this roughly half of it has already been deployed and another half of it will be deployed near completion by FY21.
By : DC Correspondent
Update: 2018-05-07 20:20 GMT
Hyderabad: Mid-priced hotel chain Lemon Tree Hotels plans to invest around Rs 850 crore over the next three years in hopes of expanding its footprint, according to a top official here on Monday.
Speaking to the media Lemon Tree Hotels president Vikramjit Singh said: “the total capital that will be deployed in these 1,500 rooms will about Rs 1,700 crore. Of this roughly half of it has already been deployed and another half of it will be deployed near completion by FY21. All the rooms are to be available by FY21.”
The hotel chain, which currently operates 4,907 rooms in 49 hotels including managed ones across 31 cities, aims to operate 78 hotels with 8,152 rooms in 54 cities by 2020-21, according to Mr Singh.