Lemon Tree Hotels Signs New Hotel In Rajasthan

Mahesh Aiyer, CEO, Carnation Hotels Private Limited, said, “We are happy to announce our expansion in Rajasthan with our partner, Fort Rajwada Hotels. We already have six operational hotels in the state and another four upcoming in Jaipur, Kumbhalgarh, Banswara and now in Sri Ganganagar. We are looking to add more hotels and resorts in the state to our existing portfolio." he further added.

Naaz Hotel Consultants were the advisors on the deal.

Last month, the company signed four hotels, one in Gujarat, two in Himachal Pradesh, and another in Madhya Pradesh. Together, the total inventory was about 300 rooms across these states. Of this, its management contract for its Aurika hotel in Kasauli, Himachal Pradesh, will have about 110 rooms and will be expected to come up as a resort by November 2024.

The company currently operates about 8,400 rooms in 87 hotels in about 50 locations. It is targeting 12,000 rooms in 130 hotels in 84 destinations. It has seven brands including Aurika Hotels & Resorts, Lemon Tree Premier, Lemon Tree Hotels, Red Fox by Lemon Tree Hotels, among others. The company also expanded internationally in Dubai in 2019 and in Bhutan in February 2020.

According to a recent report, India’s hospitality industry not only recovered from the pandemic slump but also stayed on the growth path this fiscal year, as per a new report. Demand outlook for the industry is positive, indicating a promising future, said the report by credit ratings agency CareEdge titled, ‘Back on Hospitable Grounds, Hotels Set to Grow in FY24 Despite Uncertainties’.

The sector’s RevPAR, or revenue per available room, which is estimated to reach ₹4,000 to ₹4,100 per room by the end of FY23, reflects marginal growth over FY19 levels, aided by strong recovery in occupancy and average rates.