Lemon Tree Hotels to acquire Keys Hotels, will increase portfolio to 75 Hotels in India

As per recent reports, Lemon Tree Hotels has signed a non-binding term sheet with Mauritius-incorporated Berggruen Hotels and Berggruen Investments, which builds and operates hotels under the Keys brand, to acquire a 100 per cent stake in Keys Hotels in India.  The Keys Hotels portfolio currently includes 21 owned/managed hotels with 1,911 rooms in 19 cities in India. The company also owns two land parcels for hotel development in Goa and Raipur. The company operates three brands, Keys Prima Hotels, Select Hotels, and Lite Hotels to cater to the mid-scale and economy hotel segments. After the finalization of the deal, which is yet to happen, Lemon Tree will expand its operating portfolio to 75 Hotels with 7,322 rooms in 44 cities in India.