Lemon Tree Hotels Ltd - Stock Valuation and Financial Performance

BSE: 541233 | NSE: LEMONTREE | Hotel, Resort & Restaurants | Small Cap

Lemon Tree Hotels Share Price

147.85 1.25 0.85%
as on 13-Dec'24 16:59

DeciZen - make an informed investing decision on Lemon Tree Hotels

Overall Rating
Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

emon Tree Hotels stock performance -

mw4me loader
P/E Ratio (CD):
77.15
Market Cap:
11,713.4 Cr.
52-wk low:
112.1
52-wk high:
158.1

Is Lemon Tree Hotels Ltd an attractive stock to invest in?

1. Is Lemon Tree Hotels Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Lemon Tree Hotels Ltd is a below average quality company.

2. Is Lemon Tree Hotels Ltd undervalued or overvalued?

The key valuation ratios of Lemon Tree Hotels Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is Lemon Tree Hotels Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Lemon Tree Hotels Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

10 Year X-Ray of Lemon Tree Hotels:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Lemon Tree Hotels Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
ROCE % 1.2%4.1%5.4%6.4%7.4%7.2%-1.1%1.4%14.1%15.6%-
Value Creation
Index
-0.9-0.7-0.6-0.5-0.5-0.5-1.1-0.90.00.2-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 2903684124845506692524028751,0711,168
Sales YoY Gr.-26.7%12%17.5%13.5%21.8%-62.4%59.8%117.5%22.4%-
Adj EPS -0.8-0.3-0.10.10.6-0.2-2.4-1.11.41.91.9
YoY Gr.-NANANA425%-131.8%NANANA30.6%-
BVPS (₹) 10.510.67.77.98.812.411.610.510.812.212.8
Adj Net
Profit
-65.2-24.7-10.39.650.1-15.6-187-87.7114149152
Cash Flow from Ops. -50.463.112211518715141135385465-
Debt/CF from Ops. -11.5106.68.86.410.341.112.64.54.1-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 15.6%14.3%62.1%22.4%
Adj EPS NA24.4%NA30.6%
BVPS1.7%6.8%1.7%13.3%
Share Price - 19.5% 44.2% 22.6%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
Return on
Equity %
-8-3-1.31.25.9-1.7-19.6-1013.516.415.3
Op. Profit
Mgn %
19.628.628.328.130.736.424.329.651.248.947.7
Net Profit
Mgn %
-24.3-6.1-2.22.19.1-2.3-74.1-34.2161713
Debt to
Equity
0.70.81.31.61.71.61.82221.6
Working Cap
Days
497485328160149120288169848331
Cash Conv.
Cycle
-42-46-46-50-49-38-48-46-32-27-24

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 15.30%

Sales growth is growing at healthy rate in last 3 years 62.05%

Debt to equity has declined versus last 3 years average to 1.95

Sales growth is good in last 4 quarters at 24.16%

Net Profit has been subdued in last 3 years 0.00%

Latest Financials - Lemon Tree Hotels Ltd.

Standalone Consolidated
TTM EPS (₹) 1.3 1.9
TTM Sales (₹ Cr.) 374 1,168
BVPS (₹.) 15.1 12.8
Reserves (₹ Cr.) 401 224
P/BV 9.82 11.52
PE 111.33 77.15
From the Market
52 Week Low / High (₹) 112.05 / 158.05
All Time Low / High (₹) 13.80 / 158.05
Market Cap (₹ Cr.) 11,713
Equity (₹ Cr.) 792.3
Face Value (₹) 10
Industry PE 71.4

Management X-Ray of Lemon Tree Hotels:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *14.7211.8811.886.436.443.333.340.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Lemon Tree Hotels

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Sales2903684124845506692524028751,071
Operating Expenses 234263296348381426190284427548
Manufacturing Costs6776105941031145177128162
Material Costs28353544505718285063
Employee Cost 7784971101211557097150188
Other Costs 6168581011081005182100135
Operating Profit 5710511613616924361119448523
Operating Profit Margin (%) 19.5%28.4%28.3%28.1%30.7%36.4%24.3%29.5%51.2%48.8%
Other Income 116121315112221912
Interest 7372787885162190181182208
Depreciation 52525153549210810497112
Exceptional Items 0000000000
Profit Before Tax -57-1401845-2-219-145178216
Tax 9754-1111-32-73834
Profit After Tax -65-21-51556-13-187-137141182
PAT Margin (%) -22.6%-5.6%-1.2%3.0%10.3%-2.0%-74.1%-34.1%16.1%17.0%
Adjusted EPS (₹)-0.8-0.3-0.10.20.7-0.2-2.4-1.11.51.9
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24

Equity and Liabilities

Shareholders Fund 822828806812875989918831854967
Share Capital 776778781786789790790791792792
Reserves 45502526861991274062175
Minority Interest428434428429432556617568560580
Debt5596017589671,1361,5101,5731,5891,5751,679
Long Term Debt4925326919311,1351,4511,5141,5531,5171,677
Short Term Debt676967361606035583
Trade Payables39606081968477596786
Others Liabilities 67110159169213619593543641686
Total Liabilities 1,9152,0332,2122,4582,7513,7583,7783,5893,6963,997

Fixed Assets

Gross Block1,4101,4561,5161,6091,8063,5823,7403,7043,7154,512
Accumulated Depreciation173224100151205278548654760872
Net Fixed Assets1,2361,2321,4161,4571,6013,3053,1923,0492,9563,639
CWIP 16624835155966419024229748225
Investments 3066153514610613
Inventories555568781114
Trade Receivables18243153845031295671
Cash Equivalents 301418213141141542754
Others Assets430505385348330151160142159180
Total Assets 1,9152,0332,2122,4582,7513,7583,7783,5893,6963,997

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Cash Flow From Operating Activity -506312211518715141135385465
PBT -57-1401845-2-219-145178216
Adjustment 112118117123130251283279268307
Changes in Working Capital -90-309-2425-97-323-41-22
Tax Paid -15-11-4-3-13-110-2-21-36
Cash Flow From Investing Activity -160-86-229-260-289-608-66-45-283-397
Capex -173-114-230-236-271-632-64-67-162-331
Net Investments 18270-8-1921-9131-24
Others -511-161388-122-42
Cash Flow From Financing Activity 1686111149113457111-163-132-59
Net Proceeds from Shares 93511620121
Net Proceeds from Borrowing 2939176244219215603725197
Interest Paid -68-67-67-74-78-114-97-140-143-162
Dividend Paid 0000000000
Others 19832-2-32-34353148-61-16-94
Net Cash Flow -42-164310-187-73-3110
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Ratios
ROE (%)-8.03-2.52-0.722.388.57-1.56-19.63-15.7116.6819.96
ROCE (%)1.164.125.416.377.377.2-1.11.4214.0615.56
Asset Turnover Ratio0.160.190.190.210.210.210.070.110.240.28
PAT to CFO Conversion(x)N/AN/AN/A7.673.34N/AN/AN/A2.732.55
Working Capital Days
Receivable Days21212532453759271822
Inventory Days65544411744
Payable Days5485176205936485771,653891458444

Lemon Tree Hotels Ltd Stock News

Lemon Tree Hotels Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Lemon Tree Hotels on 13-Dec-2024 16:59 is ₹147.8.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 13-Dec-2024 16:59 the market cap of Lemon Tree Hotels stood at ₹11,713.4.
The latest P/E ratio of Lemon Tree Hotels as of 13-Dec-2024 16:59 is 111.3.
The latest P/B ratio of Lemon Tree Hotels as of 13-Dec-2024 16:59 is 9.82.
The 52-week high of Lemon Tree Hotels is ₹158.1 and the 52-week low is ₹112.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Lemon Tree Hotels is ₹374.2 ( Cr.) .

About Lemon Tree Hotels Ltd

The company was incorporated as “P.M.G Hotels Private Limited” on June 2, 1992, as a private limited company under the Companies Act 1956, at New Delhi, with a certificate of incorporation granted by the RoC. Pursuant to a resolution of its shareholders dated December 13, 2002, the name of the company was changed to “Krizm Hotels Private Limited” and a fresh certificate of incorporation dated January 7, 2003 was issued by the RoC. Further, pursuant to a resolution of its shareholders dated June 2, 2010, the name of the company was changed to “Lemon Tree Hotels Private Limited” and a fresh certificate of incorporation consequent to change in name was issued by the RoC on June 10, 2010. On the conversion of the company to a public limited company pursuant to a resolution passed by its shareholders on September 29, 2012, its name was changed to “Lemon Tree Hotels Limited” and a fresh certificate of incorporation dated October 22, 2012 was issued by the RoC.

Lemon Tree Hotels Limited (LTH) is India’s largest hotel chain in the mid-priced hotel sector. It operates in the upscale segment and in the mid-priced sector, consisting of the upper-midscale, midscale and economy segments. It delivers differentiated yet superior service offerings, with a value-for-money proposition. LTH opened its first hotel with 49 rooms in May 2004 (including Keys hotels) across many cities under its various brands viz. Aurika Hotels & Resorts, Lemon Tree Premier, Lemon Tree Hotels, Red Fox Hotels, Keys Prima, Keys Select and Keys Lite.

Lemon Tree Hotels, including Keys Hotels, are located across India, in metro regions, including the NCR, Bengaluru, Hyderabad, Mumbai, Kolkata and Chennai, as well as tier I and tier II cities such as Pune, Ahmedabad, Chandigarh, Jaipur, Indore, Aurangabad, Udaipur, Vishakhapatnam, Kochi, Ludhiana, Thiruvananthapuram and Vijayawada. The company expanded internationally with the launch of the hotel in Dubai in December 2019 and Bhutan in February 2020. New hotels are also opening internationally in Nepal.

Business area of the company

Lemon Tree Hotels is engaged to carry out business of developing, owning, acquiring, operating, managing, renovating and promoting hotels, motels, resorts, restaurants, etc. under the brand name of Lemon Tree Hotel, Lemon Tree Premier, Red Fox Hotel, Aurika, Keys Select, Keys Prima and Keys Lite.

Brands

  • Aurika Hotels and Resorts
  • Lemon Tree Premier
  • Lemon Tree Hotels
  • Red Fox Hotels
  • Keys Prima
  • Keys Select
  • Keys Lite

Awards

2010

  • The NCPEDP (National Center for Promotion of Employment for Disabled People, a non-profit organization working as an interface between government, industry, international agencies and the voluntary sector) Shell Helen Keller Award, 2010 for exemplary beliefs and practices in employing Differently Enabled People.
  • SATTE 2010, Hotelier for ‘Best Mid Market Developer’.
  • FHRAI (The Federation of Hotels and Restaurant Associations of India) Hall of Fame Award, 2010.
  • Lemon Tree Hotel, Hinjawadi: Winner of TripAdvisor’s Traveler’s Choice 2010 Awards: Top 10 in Service among 8000 Indian hotels.
  • Times Food & Nightlife Awards 2010: Best Pan Asian restaurant in North Goa awarded to Republic of Noodles at Lemon Tree Amarante Beach Resort, Goa.

2011

  • Ministry of Social Justice and Empowerment, Government of India: Best Employer - National Award, 2011.
  • Ranked in the Top 100 in the 2011 study of Best Companies to Work For by the Great Place to Work Institute& the Economic Times.
  • Winner of Excellence Honours for ‘Best Mid Range Hotel’ by Times Travel Academy, 2011.
  • 7 Lemon Tree Hotels have been awarded TripAdvisor’s Certificate of Excellence.
  • 4 Lemon Tree Hotels rank 1 on TripAdvisor in their respective cities.
  • 4 Lemon Tree Hotels are Expedia Insider’s Select Hotels (top 1% of 90,000 hotels globally, of which only 11 hotels were selected in India).
  • Times Food & Nightlife Awards 2011: Best Pan Asian restaurant in North Goa awarded to Republic of Noodles at Lemon Tree Amarante Beach Resort, Goa.
  • Republic of Noodles at Lemon Tree Amarante beach Resort, Goa awarded one of Asia's finest restaurants by The Miele Guide, a regional guide book to restaurants in Asia.
  • MphasiS Universal Design Award, 2011: The NCPEDP (National Center for Promotion of Employment for Disabled People).

2012

  • Ministry of Social Justice and Empowerment, Government of India National Award: Outstanding Work in the Creation of a Barrier-free Environment for Persons with Disabilities, 2012; Best Employer 2011
  • Ranked in the Top 50 large organizations (>1000 employees) in the 2012 study of Best Companies to Work For by the Great Place to Work Institute & the Economic Times.
  • 15 hotels across the three brands were awarded TripAdvisor’s Certificate of Excellence 2012.
  • Lemon Tree Amarante Beach Resort, Goa awarded Expedia Insiders’ Select, 2012 (top 1% of 114,000 hotels globally).
  • Lemon Tree Hotel, Indore awarded ‘Top 25 Bargain Hotels in India’ 2012 by TripAdvisor’s Travelers’Choice.
  • Red Fox Hotel, Jaipur awarded ‘Top 25 Trendiest Hotels in India’ 2012 by TripAdvisor’s Travelers’ Choice.
  • CNBC AWAAZ Travel Awards 2012 ‘Best Budget Hotel’ awarded to Lemon Tree Vembanad Lake Resort,Muhamma-West of Kumarakom, Kerala
  • Outlook Traveller Readers’ Choice Award 2012 for Best Mid-range Hotel in India.
  • MakeMyTrip.com’s Platinum Pick Partner Awards 2012 to 8 hotels under the Lemon Tree Premier, Lemon Tree Hotels and Red Fox Hotels brands.
  • NCPEDP (National Center for Promotion of Employment for Disabled People)-Shell Helen Keller Award 2012:Category C: Role Model Organizations,for the work towards promoting employment opportunities for people with disabilities.
  • NCPEDP-Shell Helen Keller Award 2012: Category B: Role Model Non-Disabled Individuals, for your work towards promoting employment opportunities for people with disabilities.
  • Svayam Accessibility and Universal Design Award, 2012.

2013

  • Ranked 67 in the Top 100 Great Places to Work For 2013.
  • AajTak Care Awards 2013 for CSR (Corporate Social Responsibility) in the Empowerment category. This award is for Employees with Disabilities (EWDs) initiative.
  • 16 hotels out of 19 operating hotels awarded TripAdvisor’s Certificate of Excellence 2013:
  • Lemon Tree Premier: Bangalore, Gurgaon, Hyderabad and Jaipur.
  • Republic of Noodles, Goa.
  • Lemon Tree Hotels selected amongst the top two brands of Best Hotel For Value in the Lonely Planet Travel Awards 2013.
  • ‘India Says Yes’ certificate for ‘Awesome Food’: Lemon Tree Hotel Aurangabad, Kerala.
  • ‘India Says Yes’ certificate for ‘Excellent Service’: Lemon Tree Hotel Aurangabad, Goa.
  • HICSA 2013 Best New Hotel of the Year: Mid-market Segment - Lemon Tree Hotel, Chandigarh.

2014

  • Cornell University Exemplary Practice Award 2014 for Lemon Tree Hotels’ companywide inclusion program and initiative of hiring and supporting People with Disabilities
  • Ranked #86 in the Top 100 Great Places to Work For 2014
  • National Tourism Award 2012-13: Best Classified hotel under 2 Star Category - Red Fox Hotel, East Delhi
  • Nipman Foundation ‘Equal opportunity Award’ 2014
  • MakeMyTrip Platinum Pick Award 2014
  • Lemon Tree Premier, Ulsoor Lake, Bangalore
  • Lemon Tree Amarante Beach Resort, Goa
  • Lemon Tree Hotel, Aurangabad
  • Lemon Tree Hotel, Dehradun
  • Red Fox Hotel, Hyderabad
  • Lemon Tree Hotels conferred the Booking.com's Awards of Excellence 2014 for Rate Parity
  • Bookings.com Guest Review Award for Excellence 2014
  • Lemon Tree Amarante Beach Resort, Goa
  • Lemon Tree Hotel, Chandigarh
  • Lemon Tree Hotel, Indore
  • Cleartrip Featured Hotel Award 2014-15
  • Mouthshut People’s Choice Award 2014-15
  • Republic of Noodles: Lemon Tree Premier, Jaipur ‘I Ate Here Award’
  • Times Food Award 2014: Best pan-Asian restaurant awarded to Republic of Noodles at Lemon Tree Premier,Ulsoor Lake, Bangalore
  • Best Budget Hotel Award at CNBC AWAAZ Travel Awards 2014: Lemon Tree Vembanad Lake Resort, Muhamma
  • Goa Food & Hospitality Awards: Best Hotel – Mid market Lemon Tree Amarante Beach Resort, Goa
  • Certificate of Merit, National Energy Conservation Award 2014, to Red Fox Hotel, Hyderabad by Ministry of Power Government of India
  • HDFC Bank Award for best hospitality services in the ‘business class’ segment
  • Dainik Bhaskar Readers Choice Award 2014 for the most popular hotel in the North Area of the city- Lemon Tree Premier, Jaipur

2015

  • Asian Human Capital Award 2015 for Innovative and Impactful People Practices by Ministry of Manpower, Singapore and the Human Capital Leadership Institute.
  • Ranked #30 in the Top 50 Great Places to Work For 2015
  • Ranked #2 Best Company in India with Unique Initiative/ Programme 2015
  • HICAP Sustainable Hotel Award 2015 in Sustainable Communities category
  • NASSCOM Award for Social Innovation in corporate (responsible business) category for a hotel chain creating visual aids and sign language for its differently-abled employees
  • 18 hotels out of 26 hotels awarded TripAdvisor’s Certificate of Excellence 2015:
  • Lemon Tree Premier: Ahmedabad, Gurgaon, Hyderabad, New Delhi
  • Lemon Tree Hotel: Aurangabad, Bangalore - Electronics City and Whitefield, Chandigarh, Chennai, East Delhi, Gurgaon-Udyog Vihar, Indore, Muhamma (Kerala), Pune
  • Red Fox Hotel East Delhi, Hyderabad, Jaipur, New Delhi
  • Republic of Noodles Bangalore - Ulsoor Lake & Electronic City, Goa, Hyderabad- Hitech City
  • Times Food Award 2015: Best pan-Asian restaurant awarded to Republic of Noodles
  • Lemon Tree Premier, HITEC City, Hyderabad
  • Lemon Tree Premier, Ulsoor Lake, Bangalore
  • BW Hotelier HR Excellence Award 2015 for being an equal opportunity employer
  • CNBC AWAAZ Travel Awards 2015(in association with Chattisgarh Tourism) ‘Best Budget Hotel’ awarded to Lemon Tree Vembanad Lake Resort, Muhamma, Kerala
  • Groupon’s Golden Spoon Award 2015: Citrus Café, Lemon Tree Premier, Delhi Airport
  • Zomato Users Choice Award 2015: Slounge, Lemon Tree Premier, Jaipur

2016

  • Ministry of Social Justice and Empowerment, Government of India: Best Employer – National Award, 2016. Award received from the President of India
  • Ranked 9 Best Company in India by Great Places to Work For Institute 2016
  • Ranked the Best Company in India for Workplace Culture Transformation 2016
  • Overall Winners World Responsible Tourism Award 2016 at WTM, London
  • Gold Winner-'Best Accommodation for Responsible Employment' category’ 2016,WTM, London
  • HR Innovation Award for Excellence in Diversity and Inclusion,2016
  • BW Hotelier Editor’s Choice Award 2016 for being an equal opportunity employer
  • Franchise India 9th Annual Estate Awards: Best Budget Hotel of the Year
  • TripAdvisor Hall of Fame: Republic of Noodles Lemon Tree Amarante Beach Resort, Goa.
  • 19 hotels out of 29 hotels awarded TripAdvisor’s Certificate of Excellence 2016:
  • Lemon Tree Hotel Ahmedabad, Aurangabad, Bangalore - Electronics City and Whitefield, Chennai- Shimona, Dehradun, East Delhi, Gurgaon-Udyog Vihar, Hyderabad- Gachibowli, Indore, Muhamma (Kerala)
  • Red Fox Hotel East Delhi, Hyderabad, Jaipur, New Delhi.
  • Republic of Noodles Bangalore - Ulsoor Lake & Electronic City Goa Hyderabad- Hitech City
  • 16 hotels awarded Holiday IQ’s Better Holiday Award 2016:
  • Lemon Tree Premier: Bangalore Hyderabad Jaipur
  • Lemon Tree Smiles adjudged the Best Loyalty Program at the 9th Loyalty Awards Summit by AIMIA.

2017

  • Ranked 4 Best Company in India by Great Places to Work For Institute 2017
  • Ranked 19 Best Company in Asia by Great Places to Work For Institute 2017
  • Recognition for being among the best in the industry – Hotels & Resorts, 2017
  • Recognition for being among the best in the Special Category – Employer Branding, 2017; Utilizing Analytics to Drive Great Place to Work Initiative, 2017
  • NCPEDP Hellen Keler Award 2017 for Role Model Companies
  • Dr. Anji Reddy Memorial Award for Model Employer for Persons With Disabilities 2017
  • 23 hotels out of 33 operating hotels(over 1 year) awarded TripAdvisor’s Certificate of Excellence 2017
  • Holiday IQ- Better Holiday Awards 2017 for being voted India’s Favourite Hotel Chain
  • BML Munjal Awards 2017: Runner-Up: Business Excellence through Learning and Development
  • People Matters Talent Acquisition League 2017:’ Best in Diversity’ Award
  • People Matters Total Rewards 2017: 'Best in Building Career' Award

2018

  • Green Champion Award 2018 under the category ‘Organization Leading the Green Building Movement in India (Commercial)’ during 5th Green Champion Award 2018 organised by IBGC (a part of CII formed in 2001)
  • Best 3 Star Hotel Award Category during National Tourism Award 2016-17
  • Ranked 12th amongst the Best Large Workplaces in Asia by the Great Place To Work Survey, 2018
  • Financial Times ArcelorMittal Boldness in Business Award for Corporate Responsibility/ Environment
  • Amity Leadership Awards for Business Excellence by Leveraging IT, 2018 by Amity School of Science and Technology
  • Customer Loyalty Awards for the category of 'Best Loyalty Program in Services Sector” 2018
  • 26 hotels out of 41 operating hotels(over 1 year) awarded TripAdvisor’s Certificate of Excellence 2018
  • Lemon Tree Premier Ahmedabad ,Gurugram- Leisure Valley-1 & 2, City Center , Jaipur
  • Lemon Tree Hotel Baddi, Bangalore – Electronics City, Bandhavgarh, Chandigarh, Chennai- Shimona,  Dehradun, East Delhi, Goa- Candolim, Hyderabad- Gachibowli, Indore, Katra, Pune, Muhamma (Kerala) , Manesar, Srinagar, Vadodara
  • Red Fox Hotel Bhiwadi, Chandigarh, East Delhi, Jaipur, Trichy

2019

  • Investing in People Award during Tourism For Tomorrow Awards 2019 organized by World Travel & Tourism Council in Seville, Spain.
  • Best Differently Abled Friendly Hotel at FICCI Travel & Tourism Excellence Awards 2019.
  • Best 3 star Hotel at FICCI Travel & Tourism Excellence Awards 2019.
  • Awarded BW Pure: Purpose-Led Brand Award 2019
  • Won IT Excellence Award by The Indian Express group.
  • Felicitated by Schneider Electric with the 'Best Responsive Award'.
  • Amity Corporate Excellence Awards for Best CSR Practices, 2019 by Amity School of Science and Technology
  • 47 hotels out of 55 operating hotels (over 1 year) awarded TripAdvisor’s Certificate of Excellence 2019

2020

  • Awarded GO-MMT Travellers Choice Award

Major Events and Milestones

  • 2004: Opened the first “Lemon Tree Hotel” in Gurugram, Haryana, India.
  • 2006: Investment by Maplewood.
  • 2008: Investment by Citron.
  • 2009: Opened the first “Red Fox” hotel in Jaipur, Rajasthan.
  • 2010: Opened the first “Lemon Tree Premier” hotel in Leisure Valley, Gurugram, Haryana, India.
  • 2012: Investment by APG commenced the business of management of hotels, through Subsidiary, Carnation.
  • 2018: Signed a Joint venture with Warburg Pincus for a student housing/co living platform - Hamstede Living Private Limited
  • 2019: Acquired Berggruen Hotels Private Limited, 4th largest mid-market hotel chain in India, operating under three brands - keys Prima Hotels, Keys Select Hotels, Keys Lite Hotels.
  • 2020: Launched Lemon Tree Hotel in Rishikesh, Uttarakhand.
  • 2021: Lemon Tree Hotels, through its management subsidiary Carnation Hotels Pvt. Ltd., opened the 68 key hotel-Lemon Tree Hotel in Aligarh, Uttar Pradesh.
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