Omaxe partners Lemon Tree Hotels to manage 10-property portfolio

Omaxe Ltd has signed a Memorandum of Understanding with Carnation Hotels Pvt Ltd, the hospitality arm of Lemon Tree Hotels, to delegate operations of 10 hotel projects spread across multiple Indian cities. The properties will collectively add 4,000 keys to Lemon Tree's portfolio, with estimated development costs of ₹4,000 crore.

The 10 projects are located in Lucknow, Vrindavan, Amausi, Ghaziabad, Greater Noida, Amritsar, Kaushambi and Faridabad, reflecting a strategic focus on tier-2 and tier-3 urban centres. The arrangement was formalized through a regulatory filing submitted on Friday.

The hotel management agreement forms part of Omaxe's broader hospitality expansion strategy, which involves investing ₹6,200 crore to develop 19 hotel properties across five states. The developer aims to capitalise on growing demand for accommodation in secondary cities, driven by business travel, leisure tourism and religious pilgrimage.

Omaxe's leadership noted that India's hospitality sector is experiencing significant growth beyond traditional metropolitan markets, with emerging cities increasingly attracting domestic and international visitors seeking quality lodging options.