Omaxe signs Lemon Tree pact for 10 hotel projects
In short
Omaxe signed an initial pact with Lemon Tree Hotels’ unit to run 10 hotel projects across India. The filing cited in the reports says the projects will cost about ₹4,000 crore and include cities such as Lucknow, Vrindavan and Faridabad.
This matters for Omaxe and Lemon Tree because it expands their hotel pipeline and could bring more business if the projects go ahead. The reporting says Omaxe plans to fund construction through property sales, but timing is not given.
What the reporting says
Omaxe signed an MoU with Lemon Tree Hotels’ subsidiary Carnation Hotels to manage 10 hotel projects across India, with an estimated investment of about ₹4,000 crore, according to a regulatory filing cited in the reports. The projects span cities including Lucknow, Vrindavan, Amausi, Ghaziabad, Greater Noida, Amritsar, Kaushambi and Faridabad. The reporting says Omaxe plans to fund construction through property sales, but completion timing is not stated.
Why it matters
Omaxe entered an MoU with Carnation Hotels, a Lemon Tree subsidiary, to manage 10 hospitality projects across India with an estimated investment of about ₹4,000 crore. The projects are spread across several cities, and the reports say Omaxe intends to fund construction through property sales. The pact affects Omaxe, Lemon Tree and the hotel development pipeline, but project delivery dates are not stated.