
Business Update18 Jun 2026, 10:20 pm
Lemon Tree Hotels Signs Two New Resorts in Maharashtra
AI Summary
Lemon Tree Hotels Limited has announced the signing of two new license agreements for properties in Maharashtra: Lemon Tree Resort, Tadgaon and Lemon Tree Resort, Igatpuri. These properties will be managed by its subsidiary, Carnation Hotels Private Limited. The Tadgaon resort will feature 110 rooms and various amenities, while the Igatpuri resort will have 90 rooms and similar facilities. These additions will bring Lemon Tree's network in Maharashtra to 32 properties, with 15 operational and 17 in the pipeline. The company views these signings as strategic expansion into high-potential micro-markets catering to drive-to tourism.
Key Highlights
- Signed two new license agreements for resorts in Tadgaon and Igatpuri, Maharashtra.
- Adds 200 keys to the company's pipeline, expanding network to 32 properties in the state.
- Properties will be managed by wholly-owned subsidiary Carnation Hotels Private Limited.
- Expansion targets high-potential micro-markets for leisure and corporate travel.
- Consolidates market presence in Western India with premium regional resorts.
Price Impact
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