Lemon Tree Hotels Ltd has completed the acquisition of a 989.30-square-metre land parcel in Bandra (East), Mumbai, for ₹120 crore to develop a 172-key Lemon Tree Premier hotel. According to the latest regulatory filing on September 24, 2026, the acquisition was completed by Fleur Hotels Ltd, a material subsidiary of the company, through the registration of the Deed of Conveyance and other related documents. The proposed hotel will comprise of approximately 172 keys and is planned as an upscale full-service property catering to the growing demand from business travelers, meetings, incentives, conferences and exhibitions (MICE), leisure and social segments. The land is located along the Western Express Highway, adjoining Bandra Kurla Complex (BKC), making it the group's seventh hotel in Mumbai. The total consideration of ₹120 crore is exclusive of stamp duty and registration charges.
The land is located along the Western Express Highway, adjoining Bandra Kurla Complex (BKC), making it the group's seventh property in Mumbai. As reported in the regulatory filing, the sellers include Asara Co-Operative Housing Society Ltd, Nine Dimensions Housing LLP and others, with no shareholding between the parties and the transaction being not a related-party transaction. Managing Director Neelendra Singh stated that expanding to seven properties in Mumbai aligns with their strategy of building cluster-level market density in high-yield micro-markets. He emphasized that the upcoming Lemon Tree Premier, Bandra, Mumbai will bridge crucial business corridors like Bandra Kurla Complex (BKC) and the vibrant social hub of Bandra. Singh noted that Mumbai is a collection of high-yield, distinct micro-markets, and securing high-impact urban sites like this reflects a deliberate focus on expanding the premium footprint in top-tier markets.
Separately, Lemon Tree Hotels has signed a licence agreement for a 90-room Lemon Tree Hotel in Patancheru, Telangana, taking its property count in the state to eight, including operational and upcoming hotels. According to reports from CNBC TV18, the hotel will be managed by Carnation Hotels Private Ltd, a wholly owned subsidiary of Lemon Tree Hotels, and will feature a restaurant, banquet hall, meeting and conference room, swimming pool, fitness centre and other recreational facilities. The property is located in Patancheru, an industrial and manufacturing hub, with Rajiv Gandhi International Airport, Hyderabad, approximately 55 km away. The signing further strengthens the group's presence in Telangana, where the group now has four operational hotels and four upcoming properties, including this signing. The hotel is strategically positioned to cater to demand from business travelers, corporate visitors and transient guests, while supporting the group's continued expansion across the state.
Shares of Lemon Tree Hotels Limited ended at ₹106.80, down by ₹1.05, or 0.97%, on the BSE following the announcement. As reported by CNBC TV18, President Vishvapreet Singh Cheema emphasized that Telangana continues to be a high-priority market driven by industrial growth and corporate expansion, with Patancheru representing a strategic business catchment area. The company currently operates over 130 hotels across 80+ cities and has a pipeline of more than 140 upcoming properties, operating seven distinct brands ranging from value-conscious to upper-upscale segments.
