Private equity firm Warburg Pincus-backed Lemon Tree Hotels Ltd. is entering the Mumbai market as it prepares to launch its first hotel in the city shortly. With more than Rs. 1,125 crores investment, the firm is planning to launch a 9 storey, 303-room spread over the area of 5.500 sq. mt Lemon Tree Premier Hotel, its premium hotel brand, near the Mumbai international airport. The firm held an exclusive preview for the same at Mumbai.
Commenting on the exclusive preview launch of the Hotel, Patanjali Keswani, Chairman & Managing Director, said, “We are happy to hold an exclusive preview of our upcoming hotel, Lemon Tree Premier-Mumbai International Airport. Mumbai is a key market for us and a prominent destination both for business and leisure travellers. The hotel is strategically located near Chhatrapati Shivaji International Airport and in the midst of one of Mumbai’s commercial/industrial hubs. With this hotel, we will also showcase a new design style of our upper midscale brand – Lemon Tree Premier, which blends nostalgia with chic interiors and modern amenities. Our customers can look forward to a refreshing stay at this stylish hotel.”
Keswani also commented that “despite a huge demand for hotel rooms, Mumbai is also one of the most difficult cities in Asia to build hotels. The approval process is too complicated. So many agencies are involved, and it takes a lot of time for approval, and the land values are high”.
With the Mumbai hotel, Lemon Tree will operate around 5,800 rooms in 57 hotels across 34 cities. By 2021, the company expects to operate around 85 hotels with 8,674 rooms, across 57 cities.