Lemon Tree Hotels Ltd. Acquires Berggruen Hotels Pvt. Ltd. and The Brand ‘Keys Hotels’
18 Keys hotels across 16 destinations and an inventory of ~1700 rooms, brings Lemon Tree Hotels to a total of ~7,800 rooms, 77 hotels, 45 destinations
LEMON TREE Hotels Ltd., acquired Berggruen Hotels in November 2019 taking its total inventory to ~7,800 rooms in 77 hotels across 45 destinations, making it India’s largest hotel chain in the mid-priced hotel sector1.
Keys Hotels are present in 16 cities including Aurangabad, Bengaluru, Calicut, Chennai, Goa, Gurugram, Kochi, Kolhapur, Ludhiana, Mahabaleshwar, Manali, Mumbai, Pune, Port Blair, Trivandrum and Vishakapatnam. Of these, Lemon Tree already has a presence in 7 destinations and these Keys Hotels add to the depth of coverage in those cities.
Commenting on this acquisition, Patanjali Keswani, Chairman and Managing Director, Lemon Tree Hotels Ltd. said, “We are pleased about this acquisition and the geographic spread that the Keys Hotels portfolio brings with it. We will now instantly enter 9 new destinations and simultaneously consolidate inventory in 7 of our current destinations. Going forward, we will add value to the top line of these hotels both in terms of higher yield and greater occupancies. As a pan India mid-market player, Lemon Tree Hotels are now available across 45 cities and can offer its customers multiple options in key cities. This will help us build loyalty with our guests as well as allow us to offer a wider range of brand options to hotel owners in our managed hotels portfolio, in future.”
Lemon Tree Hotels Limited is India’s largest hotel chain in the mid-priced hotel sector, and the third-largest overall, on the basis of controlling interest in owned and leased rooms, as of June 30, 2017, according to the Horwath Report.
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