Lemon Tree acquires Berggruen Hotels and the brand ‘Keys Hotels’
The acquisition of 18 Keys hotels across 16 destinations brings Lemon Tree Hotels to a total of 77 hotels across 45 destinations
Acquiring Berggruen Hotels made Lemon Tree Hotels India’s largest hotel chain in the mid-priced hotel sector with 7800 rooms. Keys Hotels are present in 16 cities including Aurangabad, Bengaluru, Calicut, Chennai, Goa, Gurugram, Kochi, Kolhapur, Ludhiana, Mahabaleshwar, Manali, Mumbai, Pune, Port Blair, Trivandrum and Vishakapatnam. Of these, Lemon Tree already has a presence in 7 destinations and these Keys Hotels add to the depth of coverage in those cities.
Commenting on this acquisition, Mr. Patanjali Keswani, Chairman and Managing Director, Lemon Tree Hotels Ltd. said, “We are pleased about this acquisition and the geographic spread that the Keys Hotels portfolio brings with it. We will now instantly enter 9 new destinations and simultaneously consolidate inventory in 7 of our current destinations. Going forward, we will add value to the top line of these hotels both in terms of higher yield and greater occupancies. As a pan India mid-market player, Lemon Tree Hotels are now available across 45 cities and can offer its customers multiple options in key cities. This will help us build loyalty with our guests as well as allow us to offer a wider range of brand options to hotel owners in our managed hotels portfolio, in future.”
The Keys portfolio of brands includes:
Keys Prima | Upper midscale: This premium brand, offers stylish features and excellent service. These hotels feature a spa, salon, swimming pool and an array of cuisines.
Keys Select | Midscale: This popular brand offers comfort and convenience, for both business and leisure travelers. The promise includes a warm welcome, efficient service, impeccable hygiene, delectable food and a good night’s sleep.
Keys Lite | Economy: This budget brand is targeted at smart consumers who look for affordable and stress free accommodation when they travel. These hotels offer hygienic rooms, multiple amenities, a selection of delicious food, safety and security for the price conscious traveler.