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Lemon Tree Hotels Limited (LTHL) is a hotel chain based in India. The company has a portfolio of 150+ hotels, which includes 100 hotel operational hotels and more than 50 hotels set to open in India and internationally[1] It is one of the largest hotel chains in India on the basis of controlling interest in owned and leased rooms, the sixth largest by consolidated inventory, and the largest in the mid-market hotel sector.[2] LTHL operates across the upscale, upper-midscale, midscale and economy segments and offers seven brands to meet guests’ needs across all levels, viz. Aurika Hotels & Resorts, Lemon Tree Premier, Lemon Tree Hotels, Red Fox Hotels by Lemon Tree Hotels, Keys Prima by Lemon Tree Hotels, Keys Select by Lemon Tree Hotels and Keys Lite by Lemon Tree Hotels.
History
Lemon Tree Hotels (LTH) was founded in 2002 by Patanjali G. Keswani.[3] It opened its first hotel, Lemon Tree Hotel, Udyog Vihar, Gurugram with 49 rooms in May 2004.[4]
In 2006, Warburg Pincus, a New York-based private equity firm, invested in Lemon Tree Hotels.[5] A year later, the company opened its fifth hotel, Lemon Tree Hotel, Indore.
The year 2009 witnessed both the opening of the tenth hotel, Lemon Tree Hotel, Chennai, as well as the expansion of the company into the economy segment, with the launch of its new brand Red Fox by Lemon Tree Hotels, and the first hotel under this brand, Red Fox Hotel, Jaipur..[6] In 2010, the company diversified further, with the launch of the Lemon Tree Premier brand in the upper-midscale segment, and the opening of Lemon Tree Premier, Leisure Valley 1 in Gurugram..[6]
In 2012, Dutch pension fund manager APG, which manages the Netherlands’ largest and the world's third-largest pension fund, entered a strategic partnership with the company. [7] This partnership led to the incorporation of a joint venture between APG and Lemon Tree Hotels, called Fleur Hotels, to build hotels across the country. [8] The same year, another joint venture called Carnation Hotels was founded as the strategic management subsidiary of Lemon Tree Hotels.[9]
Lemon Tree Hotel History
The twenty-fifth hotel was opened two years later, in 2014. In 2016, notably, Lemon Tree Hotels won the Best Employer – National Award from the Ministry of Social Justice and Empowerment, Government of India. [10]
2018 was a landmark year for Lemon Tree Hotels. The company went public and was listed on the National Stock Exchange of India in April 2018.[11] It also opened its fiftieth hotel, Red Fox Hotel, Morjim, in Goa later that same year.[12]
2019 saw further growth, with four key milestones achieved by the company. First, Lemon Tree Hotels acquired Berggruen Hotels Private Limited (Keys Hotels) for an enterprise value of ₹605 crore. [13] At the time of acquisition, Berggruen Hotels owned 936 rooms and managed 975 rooms under the Keys Prima, Keys Select and Keys Lite brands in 21 cities across India. Second, the company launched its upscale brand, Aurika Hotels & Resorts, and opened Aurika, Udaipur, the first property under the new brand. [14] Third, the company went international with the launch of Lemon Tree Hotel, Jumeirah, Dubai. [15] Finally, this was also the year that the seventy-fifth hotel was opened.
In 2020, the company furthered its international expansion with the foray into Bhutan and the opening of Lemon Tree Hotel, Thimphu. [16] Lemon Tree Hotels also launched an initiative called “Rest Assured” amid the COVID-19 pandemic, in partnership with Diversey, with a commitment to fostering health, hygiene, safety and wellbeing.[17]
On the 2nd of September 2022, Lemon Tree Hotels celebrated its twentieth anniversary. [18]
Operations
The company currently operates under 7 brands: Aurika Hotels and Resorts, Lemon Tree Premier, Lemon Tree Hotels, Red Fox by Lemon Tree Hotels, Keys Prima by Lemon Tree Hotels, Keys Select by Lemon Tree Hotels and Keys Lite by Lemon Tree Hotels.[19]
The place where Lemon Tree Hotel is showcased.
The company’s hotels, under the different brands, are located in business and leisure destinations across India, as well as internationally in Dubai and Bhutan.[22]
Environment, Social, Governance (ESG)[23]
Central to the ESG approach is LTH’s commitment to creating sustained value for all stakeholders, including shareholders and investors, employees, the environment and society. Lemon Tree believes that the development of business is inherently intertwined with delivering ESG value. LTH intends to conduct business responsibly while creating a positive impact on the environment, as well as shaping a diverse and inclusive workplace for all.
A Lemon Tree Hotel in Mukteshwar
In the area of the Environment, the focus is on becoming more energy efficient, adopting renewable energy, mitigating and adapting to climate change, conserving water and reducing waste
In the area of Social, the emphasis is on the development of people, especially creating an inclusive and equal opportunity workplace and empowering local communities
In the area of Governance, the commitment is towards building an ethical and transparent organisation
As of FY22, the company released the following key highlights of their performance under the above categories:
15.25% of procured energy was from renewable sources
50% of employees were hired from the local community
1:1 pay ratio for male and female employees at all levels
Zero cases of sexual harassment, discrimination, or child labour
Lemon Tree Hotels also set forth the following goals for the future:
15% reduction in Energy Consumption (intensity-based) by FY26 over FY19 baseline
50% renewable energy (RE) usage by FY26
40% reduction in GHG emissions (intensity-based) by FY26 over FY19 baseline
10% reduction in water consumption (intensity-based) by FY26 over FY19 baseline
100% Certified Green Buildings (hotels) by FY26
30% Opportunity Deprived Indians (ODIs) in the workforce by FY26
15% women across the workforce by FY26
INR 7.20 CR investment for Sustainable Development
The 15-year-old inclusion and diversity initiative is now a part of the company’s HR strategy. Currently, ~16% of group employees are from under-served segments of the population including persons with disability and persons from economically/socially marginalised segments.
A supporter of the NGO, PeTA (People for Ethical Treatment of Animals), each of its hotels in India has an adopted dog mascot. It is the largest corporate adopter of stray dogs in India.[24]
