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Lemon Tree Hotels, through its wholly owned subsidiary Carnation Hotels, has signed an MoU

ICICIdirect Research 19 Oct 2026 DISCLAIMER

News: Lemon Tree Hotels, through its wholly owned subsidiary Carnation Hotels, has signed an MoU with Omaxe Ltd to operate ~4,000 keys across eight destinations in India, including Lucknow, Vrindavan, Amritsar, Ghaziabad, Greater Noida and Faridabad. The proposed properties will cater to demand across transit hubs, pilgrimage destinations and commercial districts. This marks Lemon Tree’s largest single operating arrangement, taking its total development pipeline to nearly 16,000 keys.

View:  Lemon Tree Hotels currently has ~6,300 rooms under its managed portfolio. The proposed addition of ~4,000 keys through the Omaxe partnership could significantly expand its managed portfolio, reinforcing its asset-light growth strategy. The agreement strengthens its presence across Tier-II and Tier-III cities, tapping demand from business travel, pilgrimage and transit hubs.

Impact: Positive

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