Omaxe Ltd, a real estate developer, has signed a memorandum of understanding with Carnation Hotels Pvt Ltd, a wholly owned subsidiary of Lemon Tree Hotels, to operate 10 hotel projects across India.
The projects will collectively comprise 4,000 keys and mark a significant step in Omaxe’s ₹6,200-crore hospitality expansion announced in June 2026. The expansion envisages 19 hotels across five States.
₹4,000-crore investment planned
The 10 projects entail an estimated investment of around ₹4,000 crore. They span Lucknow, Vrindavan, Amausi, Ghaziabad, Greater Noida, Amritsar, Kaushambi and Faridabad.
The portfolio covers transit hubs, pilgrimage destinations and commercial locations. The approach integrates hospitality with Omaxe’s wider real estate and urban development portfolio.
Lemon Tree to operate properties
The properties will operate under Lemon Tree Hotels’ brand portfolio and cater to different hospitality segments. Development and commissioning timelines will range from nine months to five years, depending on individual projects.
“Temple towns, growing commercial centres and transit hubs, each have distinct accommodation needs. Our arrangement with Lemon Tree Hotels brings established operating expertise to this strategy,” said Oxame MD Mohit Goel.
“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,” said Lemon Tree Hotels MD Neelendra Singh.
Sale-led model to fund development
The projects will follow a sale-led development model. Omaxe expects to fund completion through sales proceeds without requiring loan funding.
The proposed portfolio includes two bus terminals in Lucknow, with 500 and 330 keys, respectively. The Amausi project near the airport will have 693 keys.
In Vrindavan, Omaxe Eternity-II will have 501 keys, while Omaxe BeTogether Courtyard will have 81 keys. The Ghaziabad project will comprise 215 keys.
Projects span multiple markets
Omaxe Connaught Place in Greater Noida will have 150 keys, while the service apartments project in Amritsar will comprise 745 keys. The Kaushambi project will have 350 keys.
World Mall in Sector 79, Faridabad, will add another 435 keys. The portfolio remains tentative.
Extending into hospitality
The arrangement supports Omaxe’s strategy of extending its development capabilities into hospitality, complementing its townships, commercial destinations and mixed-use developments.
For Lemon Tree Hotels, the partnership will accelerate its asset-light growth strategy and expand its managed portfolio across markets and property formats.