MoneyWorks4Me

Lemon Tree Hotels’ arm opens first hotel in Dubai

20 Dec 2019 Evaluate

Lemon Tree Hotels’ management subsidiary -- Carnation Hotels has opened its first hotel in Dubai. The 114-room hotel, owned by Al Waleed Real Estate LLC, is the first branded mid-scale property in the area. The company currently operates around 8,000 rooms in 79 hotels (including Keys hotels) across 47 cities under its various brands.

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.

Peers
Company Name CMP
The Indian Hotels Co 737.20
ITC Hotels 158.85
Mahindra Holi.&Resor 199.15
EIH 303.70
Chalet Hotels 872.55
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