Lemon Tree Hotels Ltd is one of the key players in the hospitality industry in India and is a leader in the mid-market segment. Its hotels are located in metro regions as well as tier I and tier II cities.
Lemon Tree had opened its first hotel with 49 rooms in May 2004. By March 2023, the company was operating around 8,382 rooms in 88 hotels across 56 destinations in India and abroad.
The company has expanded internationally with hotels opening in Dubai in December 2019 and in Bhutan in February 2020.
The company was first incorporated as PMG Hotels Pvt Ltd on June 2, 1992, as a private limited company. Pursuant to a resolution of its shareholders dated December 13, 2002, its name was changed to Krizm Hotels Pvt Ltd. Later, on June 2, 2010, the name was changed to Lemon Tree Hotels Pvt Ltd. In 2012, the company was converted into a public limited company and its name was changed to Lemon Tree Hotels Ltd.
Lemon Tree Hotels shares got listed on BSE and the National Stock Exchange (NSE) on April 9, 2018. As of December 2023, the company’s market capitalisation stood at ₹9,650 crore, with the stock price having gained 80% since its listing.
Business operations
Lemon Tree has established the sixth-largest hotel chain in India by inventory, encompassing owned, leased, managed and franchised hotels as of March 2023.
Lemon Tree Hotels caters to the needs of both leisure and business travellers looking for options in the upscale, mid-scale or economy segment. The group offers seven brands to meet hotel needs across all levels.
Aurika Hotels and Resorts: In the upscale segment, Lemon Tree operates 2 hotels with 194 rooms under the Aurika Hotels and Resorts brand. With an emphasis on design, these hotels are a reflection of the destination they are located in.
Lemon Tree Premier: This brand caters to the upper midscale segment. The company operates 18 hotels with 2,514 rooms under this brand.
Keys Prima: Another brand for the upper midscale segment is Keys Prima. The 2 hotels with 82 rooms operating under this brand offer stylish features and excellent service with exclusive hospitality and innovative features.
Lemon Tree Hotels: The company operates its highest number of hotels under its flagship Lemon Tree Hotels brand that caters to the midscale segment. A total of 41 hotels with 2,971 rooms operate under this brand. These business hotels are known for their value-for-money offerings.
Keys Select: Another brand in the midscale segment is Keys Select with 11 hotels and 1,223 rooms. These hotels offer comfort and convenience for both business or leisure travellers.
Red Fox Hotels: This is one of the two brands for Lemon Tree’s economy segment for price-conscious travellers. A total of 11 hotels with 1,290 rooms operate under the Red Fox Hotels brand. These hotels are known for bold interiors, clean rooms and reliable safety standards.
Keys Lite: Lemon Tree’s second brand for the economy segment has 3 hotels with 108 rooms under its belt.
Lemon Tree Hotels Financial Highlights
- Revenue: Lemon Tree Hotels reported revenue of ₹1,452.66 crore in FY26 vs ₹1,288.41 crore in FY25. It showed an increase of 12.75% on a yearly basis.
- Operating Profit: Lemon Tree Hotels reported an operating profit of ₹359.14 crore in FY26 vs ₹296.23 crore in FY25. It showed an increase of 21.24% on a year-on-year basis.
- Net Profit: Lemon Tree Hotels reported a net profit of ₹288.32 crore in FY26 vs ₹243.15 crore in FY25. It showed an increase of 18.58% on a yearly basis.
Lemon Tree Hotels Quarterly Result Highlights
- Lemon Tree Hotels reported revenue of ₹419.50 crore in Mar 2026, compared with ₹407.75 crore in Dec 2025, representing an increase of 2.88% on a quarter-on-quarter (QoQ) basis.
- Lemon Tree Hotels reported an operating profit of ₹141.59 crore in Mar 2026, compared with ₹98.85 crore in Dec 2025, representing an increase of 43.24% on a quarter-on-quarter (QoQ) basis.
- Lemon Tree Hotels reported a profit of ₹116.45 crore in Mar 2026, compared with ₹81.83 crore in Dec 2025, reflecting an increase of 42.31% on a QoQ basis.
- The earnings per share (EPS) of Lemon Tree Hotels stood at ₹2.48 during Mar 2026.
