Lemon Tree signs MOU with Omaxe to operate about 4,000 hotel keys
LEMONTREE · price
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On the reaction day the stock moved 0.5 pts more than Nifty Smallcap 250 and 0.3 pts less than its Hotels & Resorts peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Lemon Tree Hotels, through its subsidiary Carnation Hotels, signed an MOU with real estate developer Omaxe to operate about 4,000 hotel keys across India. Locations include Lucknow, Vrindavan, Amritsar, Ghaziabad, Greater Noida, Kaushambi, Amausi and Faridabad. This is Lemon Tree's largest single operating arrangement, taking its total development pipeline to nearly 16,000 keys. The deal supports its asset-light growth strategy focused on Tier-2 and Tier-3 cities, transit hubs and pilgrimage destinations.
Big pipeline addition of 4,000 keys boosts long-term growth visibility; positive sentiment though an MOU is non-binding and execution risk remains.