Mumbai: Omaxe Ltd on October 16, 2026, announced a memorandum of understanding with Carnation Hotels Private Limited, a subsidiary of Lemon Tree Hotels, to operate 10 hotel projects with 4,000 keys across India. These projects are part of Omaxe’s previously announced ₹6,200 crore hospitality expansion.
Investment Details
These 10 projects have an estimated investment of approximately ₹4,000 crore. The development timeline for these properties is expected to range from nine months to five years.
Project Locations
The projects will be spread across Lucknow, Vrindavan, Amausi, Ghaziabad, Greater Noida, Amritsar, Kaushambi, and Faridabad. The portfolio includes properties at transit hubs, pilgrimage destinations, and commercial locations.
Operational Model
The properties will operate under Lemon Tree Hotels' brand portfolio and cater to various hospitality segments. Omaxe expects to fund these projects through a sale-led development model, using sales proceeds without requiring loan funding.
Management Commentary
Mohit Goel, Managing Director, Omaxe Ltd, said India’s hospitality sector is expanding beyond major cities into Tier 2 and Tier 3 cities, creating opportunities for new hospitality assets. Neelendra Singh, Managing Director, Lemon Tree Hotels Limited, added that the partnership accelerates Lemon Tree Hotels' asset-light growth strategy and expands its managed portfolio.
Project Specifics
The portfolio tentatively includes Bus Terminal, Jankipuram (500 keys) and Bus Terminal, Vrindavan Yojna (330 keys) in Lucknow. Other projects include Omaxe BeTogether Centre Point, Amausi (693 keys); Omaxe Eternity-II (501 keys) and Omaxe BeTogether Courtyard (81 keys) in Vrindavan; and Omaxe BeTogether Centre Point, Ambedkar Road, Ghaziabad (215 keys).
Additional Projects
Further projects listed are Omaxe Connaught Place in Greater Noida (150 keys); Service Apartments in Amritsar (745 keys); Omaxe BeTogether Centre Point, Tower 1, Kaushambi (350 keys); and World Mall, Sector 79, Faridabad (435 keys).
Disclaimer: This story is based on company exchange filings and is for informational purposes only. Investors should evaluate risks before making decisions.
