Hospitality firm Lemon Tree Hotels Ltd on Tuesday (October 13) announced the signing of a 52-room Keys Select by Lemon Tree Hotels property in Bareilly, Uttar Pradesh, taking its portfolio in the state to 26 properties, including operational and upcoming hotels.
The hotel will be operated under a franchise agreement. With this signing, the group will have eight operational hotels and 18 upcoming properties in Uttar Pradesh.
The upcoming property will feature a multi-cuisine restaurant, a banquet and conference hall, a fitness centre and public spaces. The hotel is designed to cater to corporate travellers as well as guests attending local social events.
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Bareilly is an industrial and manufacturing centre and a key transport hub for the Rohilkhand region. The city’s location along major highways draws corporate executives, transit operators and event-related travellers, according to the company.
The hotel will be located 4.9 km from Bareilly Airport, approximately an 11-minute drive, and around 12 km from Bareilly Junction railway station.
Kapil Sharma, Executive Director and CFO, Lemon Tree Hotels Ltd, said, “The signing of Keys Select in Bareilly reflects our strategy of expanding into high-potential regional markets where we see sustained demand from business and transit travellers.
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Through an asset-light approach, we are able to scale our presence across Uttar Pradesh in a capital-efficient manner while strengthening our long-term value creation.”
Shares of Lemon Tree Hotels Limited ended at ₹111.80, up by ₹1.15, or 1.04%, on the BSE.