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Lemon Tree Hotels inks license agreement for property at Vijayawada

17 Aug 2018 Evaluate

Lemon Tree Hotels has signed a license agreement for a 90 room property at Vijayawada in the state Andhra Pradesh under the company’s brand ‘Red Fox Hotel’. The Hotel is expected to be operational by June, 2020.

This is the second signed property of the Lemon Tree Hotels group in Vijayawada, the commercial headquarters of Andhra Pradesh. Carnation Hotel, the hotel management arm of the company will be operating and marketing this hotel.

Lemon Tree Hotels is India’s largest hotel chain in the mid-priced hotel sector, and the third largest overall, on the basis of controlling interest in owned and leased rooms, as of June 30, 2017.

Peers
Company Name CMP
The Indian Hotels Co 743.00
ITC Hotels 161.35
Mahindra Holi.&Resor 201.65
EIH 301.55
Chalet Hotels 883.00
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