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 hotel projects comprising approximately 4,000 keys across India.
The agreement forms part of Omaxe’s ₹6,200 crore hospitality expansion plan announced in June 2026. The broader initiative covers 19 hotels across five states, as the real estate developer looks to expand its presence in the hospitality sector.
The 10 projects covered by the operating arrangement involve an estimated investment of around ₹4,000 crore. The properties are planned across Lucknow, Vrindavan, Amausi, Ghaziabad, Greater Noida, Amritsar, Kaushambi, and Faridabad. The portfolio spans transit hubs, pilgrimage destinations, and commercial locations, aligning Omaxe’s hospitality strategy with its broader real estate and urban development projects.
The hotels will operate under brands within the Lemon Tree Hotels portfolio and cater to different hospitality segments. Depending on the project, development and commissioning timelines are expected to range from nine months to five years.
Mohit Goel, Managing Director of Omaxe Ltd., said the partnership reflects the company’s focus on developing hospitality projects in Tier 2 and Tier 3 cities, where demand is driven by business, leisure, pilgrimage, and transit travel.
Neelendra Singh, Managing Director of Lemon Tree Hotels Limited, said the arrangement would support the company’s expansion into Tier 2 and Tier 3 markets while adding managed properties across different locations and formats.
The projects will follow a sale-led development model, with Omaxe planning to finance construction and completion through sales proceeds rather than loan funding. The proposed developments include hotels and service apartments across locations such as Lucknow, Vrindavan, Amausi near the airport, Ghaziabad, Greater Noida, Amritsar, Kaushambi, and Faridabad.
For Lemon Tree Hotels, the arrangement offers an opportunity to expand its managed hotel portfolio without directly owning the properties. Meanwhile, Omaxe will leverage an established hospitality operator to manage its hotel developments as it broadens its business beyond conventional real estate projects.
The partnership forms part of Omaxe’s wider strategy to integrate hospitality developments with its townships, commercial projects, and mixed-use properties, strengthening its presence across India’s growing hospitality markets.
