New Delhi, October 16: Omaxe Ltd., one of India’s leading real estate developers, has entered into an MOU with Carnation Hotels Private Limited, wholly owned subsidiary of Lemon Tree Hotels to operate 10 hotel projects across India, comprising 4,000 keys. This operating arrangement marks a significant step in the execution of Omaxe’s INR 6,200 crore hospitality expansion, announced in June 2026, which envisages the development of 19 hotels across five states.
The 10 projects entail an estimated investment of approximately INR 4,000 crore and span Lucknow, Vrindavan, Amausi, Ghaziabad, Greater Noida, Amritsar, Kaushambi and Faridabad. The portfolio includes hospitality developments at transit hubs, pilgrimage destinations and commercial locations, reflecting Omaxe’s approach of integrating hospitality with its wider real estate and urban development portfolio.
The properties will be operated under Lemon Tree Hotels’ brand portfolio and will cater to a mix of hospitality segments. Project development and commissioning timelines are expected to range from nine months to five years, depending on the individual development.
Commenting on the partnership, Mr. Mohit Goel, Managing Director, Omaxe Ltd., said, “India’s hospitality opportunity is expanding beyond established metropolitan markets, with Tier 2 and Tier 3 cities emerging as important destinations for business, leisure and pilgrimage travel. Temple towns, growing commercial centres and transit hubs each have distinct accommodation needs, creating an opportunity to develop hospitality assets that are aligned with the demand drivers of their respective markets. Our arrangement with Lemon Tree Hotels brings established operating expertise to this strategy, while our sale-led development model enables us to pursue this expansion with a disciplined approach to capital deployment.”
Mr. Neelendra Singh, Managing Director, Lemon Tree Hotels Limited, said, “Tier-2 and Tier-3 cities have long been central to our India growth strategy, and this operating arrangement lets us scale it faster, from transit hubs in Lucknow to temple towns like Vrindavan. Omaxe brings nearly four decades of real estate development experience across these markets, while Lemon Tree brings over two decades of hospitality expertise and guest trust. This alliance combines developer scale with operating strength, and two trusted Indian brands with a proven record of execution, to build the next phase of growth. This will accelerate Lemon Tree Hotels’ asset-light growth strategy, enabling the Company to expand its managed portfolio across diverse markets and asset formats.”
The projects will follow a sale-led development model, with Omaxe expecting to fund their completion through sales proceeds without requiring loan funding. The portfolio tentatively comprises Bus Terminal, Jankipuram (500 keys) and Bus Terminal, Vrindavan Yojna (330 keys) in Lucknow; Omaxe BeTogether Centre Point, Amausi, near the airport (693 keys); Omaxe Eternity-II (501 keys) and Omaxe BeTogether Courtyard (81 keys) in Vrindavan; Omaxe BeTogether Centre Point, Ambedkar Road, Ghaziabad (215 keys); 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).
The operating arrangement advances Omaxe’s strategy of extending its real estate development capabilities into hospitality, complementing its existing townships, commercial destinations and mixed-use developments. By aligning its projects with established hospitality operations, the company aims to address evolving accommodation needs across diverse markets in India.
