Lemon Tree Hotels Expands Portfolio to 269 Properties in FY26

Lemon Tree Hotels Ltd. reported a record year of expansion in FY 2025–26, with 56 hotel signings and 20 new openings, taking its total portfolio to 269 properties, including 131 operational hotels and 138 in the pipeline. This rapid growth underscores the company’s asset-light strategy, enabling it to scale efficiently without substantial capital investment.

With a presence spanning over 130 hotels and 11,000+ keys across 80+ destinations, Lemon Tree Hotels Ltd. continues to demonstrate a strong alignment between its growth ambitions and capital efficiency. Its asset-light approach has enabled rapid expansion while maintaining operational consistency and partner-led development—key to sustaining margins in the competitive midscale segment.

A notable financial and strategic highlight is the scale of its pipeline, which, at 138 hotels, now surpasses its operational portfolio of 131 properties. This reflects strong forward revenue visibility and underscores the company’s long-term growth potential without placing proportional pressure on its balance sheet.

Growth during the year was well diversified geographically, reflecting a conscious move beyond metro-led expansion. Lemon Tree Hotels Ltd. strengthened its footprint across high-growth urban centres, tier II and III cities, and emerging leisure destinations. This included key pilgrimage hubs such as Tirupati, Ayodhya, and Somnath; leisure destinations like Malshej Ghat, Khurpatal, and Barog; as well as industrial hubs including Bhilai, Rudrapur, and Mhow.

This multi-segment strategy enables the company to tap into religious, leisure, and business travel demand, particularly in underpenetrated markets where the supply of branded hospitality remains limited.

Brand-led expansion remained a key growth driver for Lemon Tree Hotels Ltd., with its flagship Lemon Tree Hotels accounting for 27 signings, reinforcing its position as the primary engine in the midscale segment. Lemon Tree Premier added 9 signings to strengthen its upper-midscale presence, while the Keys Hotels portfolio contributed 18 signings, underscoring continued traction in the value-driven category. Select additions under Aurika Hotels & Resorts and Lemon Tree Resort indicate a calibrated expansion into upscale and experiential segments without diluting the company’s core positioning.

Operational momentum remained robust, with 20 hotel openings during the year. The Lemon Tree Hotels brand led with 12 openings, followed by Lemon Tree Premier and Keys Lite with three each, and Keys Select with two. This consistent conversion of signed projects into operational assets enhances revenue realisation timelines while strengthening network density across key travel circuits.

As of March 31, 2026, the company’s total portfolio stood at 269 hotels. Lemon Tree Hotels led with 144 properties (71 operational and 73 in the pipeline), followed by Lemon Tree Premier with 38 hotels and Keys Select with 35. This diversified brand architecture enables presence across multiple price points, allowing the company to capture demand across a wide spectrum of customer segments.

Neelendra Singh, Managing Director, Lemon Tree Hotels Ltd., said, “Lemon Tree Hotels was founded to bridge a critical gap in India’s midscale hospitality sector by delivering reliable, branded experiences. As the market reaches a new level of maturity, our next phase of growth is focused on scaling that core proposition across a much wider geographic network. We are moving beyond the traditional six-city model because the Indian traveler is now everywhere, and our network is expanding to meet them where they are, while maintaining the discipline and consistency that define our brand.”

Backed by a pipeline that now exceeds its operational portfolio, along with consistent signing momentum and disciplined execution, Lemon Tree Hotels Ltd. is well positioned for sustained, capital-efficient growth in India’s evolving hospitality scenario.