The agreement covers projects involving an estimated investment of ₹4,000 crore across multiple Indian destinations, advancing Omaxe’s previously announced ₹6,200 crore hospitality expansion.
Omaxe Signs Operating Agreement with Lemon Tree Hotels
New Delhi, 16 October 2026: Omaxe Ltd., one of India’s leading real estate developers, has signed a memorandum of understanding (MoU) with Carnation Hotels Private Limited, a wholly owned subsidiary of Lemon Tree Hotels, for the operation of 10 hotel projects across India, comprising 4,000 keys.
The arrangement marks a significant step in the execution of Omaxe’s ₹6,200 crore hospitality expansion, announced in June 2026, which envisages the development of 19 hotels across five states. The latest agreement strengthens the company’s hospitality portfolio through collaboration with an established hotel operator.
The deal adds to Lemon Tree’s portfolio expansion, aligning with trends in new hotel agreements.₹4,000 Crore Investment Across Multiple Destinations
The 10 projects involve an estimated investment of approximately ₹4,000 crore and span Lucknow, Vrindavan, Amausi, Ghaziabad, Greater Noida, Amritsar, Kaushambi and Faridabad.
The portfolio includes developments at transit hubs, pilgrimage destinations and commercial locations, reflecting Omaxe’s strategy of integrating hospitality with its wider real estate and urban development portfolio.
The properties will operate under Lemon Tree Hotels’ brand portfolio and cater to different hospitality segments. Development and commissioning timelines are expected to range from nine months to five years, depending on the individual project.
Omaxe and Lemon Tree Hotels Outline Growth Strategy
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.”
Project Portfolio Covers 4,000 Hotel Keys
The projects will follow a sale-led development model, with Omaxe expecting to fund completion through sales proceeds without requiring loan funding. The portfolio tentatively includes:
- Lucknow: Bus Terminal, Jankipuram (500 keys); Bus Terminal, Vrindavan Yojna (330 keys).
- Amausi: Omaxe BeTogether Centre Point, near the airport (693 keys).
- Vrindavan: Omaxe Eternity-II (501 keys) and Omaxe BeTogether Courtyard (81 keys).
- Ghaziabad: Omaxe BeTogether Centre Point, Ambedkar Road (215 keys).
- Greater Noida: Omaxe Connaught Place (150 keys).
- Amritsar: Service Apartments (745 keys).
- Kaushambi: Omaxe BeTogether Centre Point, Tower 1 (350 keys).
- Faridabad: World Mall, Sector 79 (435 keys).
Together, the 10 projects account for 4,000 keys, with individual development schedules varying according to project requirements.
Omaxe Extends Real Estate Strategy into Hospitality
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 partnering with an established hotel operator, the company aims to align its projects with professional hospitality operations and address evolving accommodation requirements across India’s diverse business, leisure and pilgrimage markets.
