Lemon Tree targets 9,000-room Fleur portfolio before listing, sees demerger unlocking value

Lemon Tree Hotels plans to expand Fleur portfolio to 9,000 rooms before listing, supported by ₹4,000 crore capital deployment pipeline.

Founder Patanjali Keswani expects demerger to unlock shareholder value, creating two distinct businesses: management and asset-heavy development.

Lemon Tree has acquired land in Mumbai's Bandra East for ₹170 crore to develop a 170-room hotel, with ₹360 crore investment planned.

Fleur aims to list in the second half of 2027, with 9,000 rooms expected before listing, and 2,000 rooms to open in FY27.