Lemon Tree Hotels has signed a franchise agreement for a 52-room Keys Select property in Bareilly, Uttar Pradesh, as reported by CNBC TV18. The signing brings the group's total portfolio in the state to 26 properties, comprising eight operational hotels and 18 upcoming properties. The upcoming hotel will feature a multi-cuisine restaurant, banquet and conference hall, fitness centre, and public spaces, designed to cater to corporate travellers and guests attending local social events.
According to CNBC TV18, Bareilly is positioned as an industrial and manufacturing centre and key transport hub for the Rohilkhand region. The hotel's strategic location includes being 4.9 km from Bareilly Airport (approximately 11-minute drive) and 12 km from Bareilly Junction railway station. This location along major highways attracts corporate executives, transit operators, and event-related travellers, making it an ideal destination for the Keys Select brand targeting business and transit travellers.
As reported by CNBC TV18, Kapil Sharma, Executive Director and CFO of Lemon Tree Hotels Ltd, stated that the signing of Keys Select in Bareilly reflects the company's strategy of expanding into high-potential regional markets with sustained demand from business and transit travellers. He emphasized that through an asset-light approach, the group is able to scale its presence across Uttar Pradesh in a capital-efficient manner while strengthening long-term value creation.
According to CNBC TV18, shares of Lemon Tree Hotels Limited ended at ₹111.80, up by ₹1.15, or 1.04% on the BSE following the announcement. The positive market reaction reflects investor confidence in the company's expansion strategy and asset-light business model in the hospitality sector.
