Hospitality firm Lemon Tree Hotels Ltd announced the signing of a new hotel in Akola, Maharashtra, under its Keys Prima brand on Friday (February 27). According to reports from CNBC TV18, the property will be managed by Carnation Hotels Private Limited, a wholly owned subsidiary of the company. The hotel will feature 55 well-appointed rooms, a restaurant, a banquet hall, a conference room, and recreational facilities including a fitness centre, swimming pool, and spa. As per ScanXNews, this strategic expansion brings the company's total Maharashtra portfolio to 28 hotels, demonstrating significant presence across the state.
The signing expands Lemon Tree Hotels' Maharashtra portfolio to 28 properties, comprising 15 operational hotels and 13 in the pipeline, including this new addition. As reported by CNBC TV18, the property is located in the Vidarbha region, which is a commercial and agricultural hub known for its cotton production and strong trading ecosystem. The hotel is approximately 265 km from Dr Babasaheb Ambedkar International Airport and 4.4 km from Akola Junction railway station. According to ScanXNews, this expansion reinforces the company's commitment to strengthening its presence across Maharashtra's emerging commercial centres.
Vilas Pawar, CEO – Managed and Franchise Business at Lemon Tree Hotels, stated that "Akola's growing commercial relevance within the Vidarbha region makes it a strategic addition to our Maharashtra portfolio. As business activity expands beyond the state's primary metros, we see a strong opportunity in emerging regional centres that require quality branded hospitality." According to ScanXNews, this signing reflects Lemon Tree Hotels' continued focus on deepening its presence across Maharashtra's growth corridors, strategically aligning portfolio expansion with evolving business and regional travel demand patterns.
Last month, Lemon Tree Hotels announced the signing of a new property in Madhya Pradesh, further expanding its footprint in the state. As reported by CNBC TV18, the company has entered into a licence agreement for Lemon Tree Premier, Omkareshwar, which will feature 85 well-appointed rooms and similar facilities. The upcoming hotel will be managed by Carnation Hotels Private Limited and will cater to both business and leisure travellers. Additionally, the company recently signed a 25th property in Uttar Pradesh in Najibabad, featuring 100 rooms and comprehensive amenities including banquet facilities and recreational options.
Shares of Lemon Tree Hotels Ltd ended at ₹113.60, down by ₹3.15, or 2.70%, on the BSE on the day of the announcement. According to CNBC TV18, this decline occurred despite the positive news about the new property acquisition, reflecting broader market sentiment or other factors affecting the stock price. The company currently operates 120+ hotels across 80+ cities in India and abroad, with a growing pipeline of 130+ upcoming properties, totaling 260+ properties when combining operational and upcoming facilities.
