Omaxe has signed an MoU with Carnation Hotels, a subsidiary of Lemon Tree Hotels, for the operation of 10 hotel projects comprising 4,000 keys. The proposed properties will serve business, pilgrimage and transit destinations across northern India.
Mohit Goel, Managing Director, Omaxe Ltd., and Neelendra Singh, Managing Director, Lemon Tree Hotels Limited, outline plans for hotel developments across eight locations under Omaxe’s wider ₹6,200 crore hospitality expansion.
Omaxe Ltd. has signed a Memorandum of Understanding (MoU) with Carnation Hotels Private Limited, a wholly owned subsidiary of Lemon Tree Hotels, for the operation of 10 proposed hotel projects across India.
The agreement covers approximately 4,000 hotel keys and forms part of Omaxe’s hospitality expansion programme announced in June 2026, involving a planned investment of ₹6,200 crore across 19 hotels in five states.
The 10 properties covered by the latest arrangement represent an estimated investment of ₹4,000 crore.
The developments are planned across Lucknow, Vrindavan, Amausi, Ghaziabad, Greater Noida, Amritsar, Kaushambi and Faridabad, covering locations associated with business travel, religious tourism and transit activity.
Under the agreement, the properties will operate within Lemon Tree Hotels’ brand portfolio, with accommodation offerings intended for different customer segments.
Development and commissioning periods are expected to vary by project, ranging from nine months to five years.
Mohit Goel, Managing Director, Omaxe Ltd., said, “India’s hospitality opportunity is expanding beyond established metropolitan markets, with Tier 2 and Tier 3 cities emerging as important destinations for business, leisure and pilgrimage travel. Temple towns, growing commercial centres and transit hubs each have distinct accommodation needs, creating an opportunity to develop hospitality assets that are aligned with the demand drivers of their respective markets. Our arrangement with Lemon Tree Hotels brings established operating expertise to this strategy, while our sale-led development model enables us to pursue this expansion with a disciplined approach to capital deployment.”
The proposed portfolio includes two hotel developments associated with bus terminals in Lucknow.
The Bus Terminal project at Jankipuram is planned with 500 keys, while the Bus Terminal development at Vrindavan Yojna is expected to accommodate 330 keys.
At Amausi, near Lucknow airport, Omaxe BeTogether Centre Point is proposed with 693 keys.
Two properties are planned in Vrindavan. Omaxe Eternity II is expected to have 501 keys, while Omaxe BeTogether Courtyard is proposed with 81 keys.
In Ghaziabad, Omaxe BeTogether Centre Point on Ambedkar Road is planned with 215 keys.
Omaxe Connaught Place in Greater Noida is expected to accommodate 150 keys.
The Amritsar service apartment development is proposed with 745 keys, while Omaxe BeTogether Centre Point in Kaushambi is planned with 350 keys.
World Mall in Sector 79, Faridabad, is expected to include 435 keys.
Together, the ten projects account for the announced 4,000 keys.
Neelendra Singh, Managing Director, Lemon Tree Hotels Limited, said, “Tier-2 and Tier-3 cities have long been central to our India growth strategy, and this operating arrangement lets us scale it faster, from transit hubs in Lucknow to temple towns like Vrindavan. Omaxe brings nearly four decades of real estate development experience across these markets, while Lemon Tree brings over two decades of hospitality expertise and guest trust. 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. This will accelerate Lemon Tree Hotels’ asset-light growth strategy, enabling the Company to expand its managed portfolio across diverse markets and asset formats.”
Omaxe intends to follow a sale led development model for the properties, with completion funding expected to come from sales proceeds rather than loans.
The arrangement allows Omaxe to undertake project development while drawing on Lemon Tree Hotels’ hospitality management capabilities for the planned properties.
The company expects the proposed hotels to complement its existing residential townships, commercial developments and mixed use destinations.
Established in 1987, Omaxe has been listed on the National Stock Exchange and BSE since 2007.
The group reports having delivered approximately 145.50 million sq. ft. of real estate across 32 cities in eight states and union territories.
Its development portfolio includes Omaxe New Chandigarh Township, World Street in Faridabad, Omaxe Chowk in Delhi’s Chandni Chowk and Royal Residency in Ludhiana.
The company is also developing The Omaxe State in Dwarka, a mixed use destination planned to include retail, hospitality, sports and entertainment facilities.
The latest agreement represents an operational step in Omaxe’s broader hospitality investment programme, with individual project timelines and commissioning dependent on their respective development schedules.
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