Lemon Tree Hotels signs new property in Zirakpur

livemint.com:

Lemon Tree Hotels has signed an 80-room hotel for its Lemon Tree Hotel brand in Zirakpur, Punjab. The property is expected to be operational in the second quarter of FY27 and will be managed by Carnation Hotels Private Limited, a wholly-owned subsidiary and the management arm of the company. Since the beginning of this fiscal year, Lemon Tree Hotels has signed nine hotels, which will add about 700 rooms to the inventory across India.

This number also includes Nepal. It said that three hotels have been launched in this fiscal as well, which include, Bhopal, Agra and Manali, adding 140 rooms to its existing inventory of 8550 rooms. It runs about 90 hotels.

Vikramjit Singh, president of the company said, “For this project we have partnered with Space Builders & Promoters. This hotel will be an addition to our three existing operational hotels. We also have two other upcoming properties in the state and we aim to extend our offerings across to answer to the needs of the evolving traveller." Buoyed by hotel demand outstripping supply, many top hotel operators are also signing up multiple and there has been an increase of signings in the first quarter of FY24.

Hospitality industry consultants estimate that between 100-150 hotels could have already been signed this year. Within this, several Indian hotel companies have been on a signing spree with a focus on under 100-room hotels. Earlier this week, Apeejay Surrendra Park Hotels also launched a 40-room hotel, Zone by The Park near Gopalpur.