Latest news with #Aurika
Yahoo
2 days ago
- Business
- Yahoo
Lemon Tree Hotels' subsidiary wins bid for five-star hotel development
Lemon Tree Hotels announced that its subsidiary, Fleur Hotels, has received a Letter of Award (LOA) from the Delhi Development Authority (DDA) in India. This follows Fleur Hotels being declared the successful bidder for the licence rights to a prime 2.256-acre land parcel in Nehru Place, New Delhi. The licence is intended for developing and operating a five-star hotel under the Aurika brand. Construction on the upcoming hotel, namely Aurika, Nehru Place, will begin soon. Once complete, it will be the brand's first property in the National Capital Region. The LOA is valid for 12 months from issuance, subject to compliance with DDA conditions and tender documents. In a statement, DDA said: "The bidding process, conducted on August 13, saw Fleur Hotels secure the project with an annual license fee offer of Rs271.9m, about 50% higher than the reserve price." The project will encompass all activities related to the development and operation of the hotel on the licensed site. Aurika, Nehru Place will feature more than 500 rooms, positioning it among the largest hotels in Delhi. It will offer premium accommodation, signature dining, large banqueting facilities, and leisure amenities. Designed similarly to Aurika, Mumbai SkyCity, the hotel will blend grandeur with a distinctive Delhi flair, aiming to appeal to both sophisticated business travellers and leisure guests. Lemon Tree Hotels chairman and managing director Patanjali Keswani stated, "Delhi has always been a strategic focus for us. Aurika's entry will deliver a luxury experience that's about living, not just staying – a landmark in style, comfort, and service for the region." "Lemon Tree Hotels' subsidiary wins bid for five-star hotel development" was originally created and published by Hotel Management Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Business Standard
3 days ago
- Business
- Business Standard
Lemon Tree Hotels rallies 7% on heavy volumes, nears 52-wk high; here's why
Lemon Tree Hotels share price today Shares of Lemon Tree Hotels rallied 7 per cent to ₹155 on the BSE in Monday's intra-day trade amid heavy volumes after the company's subsidiary Fleur Hotels was declared a successful bidder vide Letter of Award in an e-auction conducted by Delhi Development Authority (DDA) with respect to allotment of land at Nehru Place, New Delhi. The stock was trading close to its 52-week high of ₹162.25 touched on January 2, 2025. At 02:37 PM; Lemon Tree Hotels was quoting 5.5 per cent higher at ₹153.20, as compared to 0.97 per cent rise in the BSE Sensex. The average trading volumes at the counter jumped over three-fold. A combined 6.18 million shares representing 0.78 per cent of total equity of the company changed hands on the NSE and BSE. What's driving Lemon Tree Hotels today? On August 14, 2025, Lemon Tree Hotels in an exchange filing announced that its material subsidiary Fleur Hotels Limited has been declared as the successful bidder in e-auction conducted by Delhi Development Authority (DDA) in respect of prime land parcel admeasuring 2.2 acres in the heart of National Capital located at Nehru Place for development and operations of a 5 Star Hotel. It is set to be a 500+ Key hotel and will be in close proximity to Delhi's top tourist spots and is also situated close to the centre of New Delhi city. The hotel is set to be designed on the lines of 'Aurika SkyCity-Mumbai' with elegant rooms, dining and expansive banquet areas. The said Hotel shall be developed as 'Aurika, Nehru Place', which will mark the debut of Lemon Tree Hotels upper upscale brand in the National Capital Region (NCR), the company said. Brokerages view on Lemon Tree Hotels Aurika is a premium brand of Lemon Tree Hotels which commands superior ARR and positions itself in the upper upscale segment and reports highest EBITDA margins in the portfolio, Currently, the company has Aurika SkyCity which is a 650-room hotel located in Mumbai while it has 2 Aurika hotels (Shimla and Shillong) in the pipeline. Shimla is in an advanced stage while Shillong is expected to come up in 2-3 years, ICICI Securities said. With the addition of Aurika, Nehru Place, Lemon Tree Hotel's expansion in the upper upscale segment increases its potential to further expand its revenue and margin profile by improving the premium mix of the portfolio in the long run, the brokerage firm said in a note. According to IDBI Capital, the management anticipates continued growth in demand, driven by the addition of approximately 1,800 planes in India and improving connectivity through Vande Bharat trains, growing airports, and ambitious highway construction. Lemon Tree Hotels aims to complete renovations for the entire portfolio of owned hotels by FY27, with about 65-70 per cent of 4,300 rooms already completed in the last two and a half years. The company is confident of achieving accelerated growth across its entire portfolio, including owned, leased, managed, and franchised properties, the brokerage firm said. It maintains BUY rating on the stock with a revised target price of ₹177, assigning 17x EV/EBITDA to FY27E. About Lemon Tree Hotels Lemon Tree Hotels is one of India's leading hospitality companies, catering to a wide range of customers – from value-conscious travellers to premium business and leisure seekers. With seven distinct brands – Aurika Hotels & Resorts, Lemon Tree Premier, Lemon Tree Hotels, Red Fox, Keys Prima, Keys Select, and Keys Lite – the group offers experiences across upper upscale, upscale, upper midscale, midscale, leisure, wildlife, and spiritual segments.
Business Standard
3 days ago
- Business
- Business Standard
Lemon Tree Hotels jumps after arm wins DDA bid for 5-Star Aurika Hotel in Delhi
Lemon Tree Hotels jumped 5.34% to Rs 153 after its material subsidiary, Fleur Hotels, has received a letter of award (LoA) from the Delhi Development Authority (DDA) for the licence rights to a prime land parcel in Nehru Place, New Delhi. The award was received on 14 August 2025, following Fleur Hotels being declared the successful bidder for the 2.256-acre site, located in one of the capitals most prominent commercial hubs. The licence is for the development and operation of a 5-star hotel under Lemon Trees upper upscale brand, Aurika. The proposed property, to be named Aurika, Nehru Place, will mark the brands debut in the National Capital Region (NCR). The LoA is for 12 months from the date of issuance and is subject to compliance with conditions laid out by the Delhi Development Authority (DDA) and in the associated tender documents. According to the company, the project will encompass all activities related to the design, development, and operation of the hotel on the licensed site. Aurika, Nehru Place will feature over 500 rooms, positioning it among the largest hotels in Delhi, and will offer premium accommodation, signature dining experiences, expansive banqueting facilities, and a range of leisure amenities. Designed on the lines of Aurika, Mumbai SkyCity, the hotel will blend grandeur with a distinctive Delhi flair, catering to both sophisticated business travellers and discerning leisure guests. Patanjali Keswani, chairman and managing director, Lemon Tree Hotels, said, "Delhi has always been a strategic focus for us. Aurikas entry will deliver a luxury experience thats about living, not just staying a landmark in style, comfort, and service for the region." Lemon Tree Hotels (LTHL) is the largest mid-priced and the third-largest overall hotel chain in India. It operates in the upscale segment and in the mid-priced sector, consisting of the upper-midscale, midscale, and economy segments. It delivers differentiated yet superior service offerings, with a value-for-money proposition. The company reported a 93.49% surge in consolidated net profit to Rs 38.33 crore, while revenue from operations rose 17.82% to Rs 315.77 crore in Q1 FY26 over Q1 FY25.
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Business Standard
3 days ago
- Business
- Business Standard
Delhi's Nehru Place to get 500-room luxury hotel under ₹10,000 cr DDA deal
In a landmark move that signals a strategic overhaul in urban land use, the Delhi Development Authority (DDA) has awarded a Special Licence Property (SLP) project to Fleur Hotels Pvt. Ltd., a subsidiary of Lemon Tree Hotels. The development will feature Aurika, a five-star luxury hotel located on a prime 2-acre plot in Nehru Place. The project is expected to generate approximately Rs 10,000 crore over a 55-year period. "The bidding process, conducted on August 13, saw Fleur Hotels secure the project with an annual license fee offer of Rs 27.19 crore, about 50 per cent higher than the reserve price," DDA said in a statement. Key Highlights: Licensing Model Breakthrough The SLP initiative replaces the conventional freehold and perpetual lease frameworks, allowing DDA to retain ownership while securing long-term revenue through an annual licensing structure Revenue Windfall Fleur Hotels emerged victorious in an auction held on August 13 with a winning bid of ₹27.19 crore per year—50% above the reserve rate of ₹18 crore. Over the 55-year license period, this is expected to generate approximately ₹10,000 crore for the DDA Grand Hospitality Development Named Aurika, Nehru Place, the upcoming hotel will span over 500 rooms and offer signature dining, expansive banqueting spaces, and premium leisure amenities. It is set to be one of the largest luxury hotels in Delhi Strategic Positioning Located in one of the capital's key commercial hubs, Nehru Place boasts excellent connectivity and strong demand drivers, making the site ideal for both business and leisure travelers. For Lemon Tree Hotels, this is a strong confidence vote in their Aurika luxury brand and overall expansion trajectory. DDA's move to retain land ownership while leveraging prime real estate via licensing indicates a robust revenue-generation model without compromising future flexibility. Lemon Tree Hotels caters to over 1.5 million guests annually across 110+ hotels in 75 cities, and the Nehru Place project will strengthen its presence in the Capital. 'Delhi has always been a strategic focus for us. Aurika's entry will deliver a luxury experience that's about living, not just staying – a landmark in style, comfort, and service for the region,' said Patanjali Keswani, chairman and managing director of Lemon Tree Hotels. Apart from Nehru Place, DDA has identified six prime land parcels across Delhi—lying unused or encroached for years—for fresh commercial development. The pipeline includes a Gold Souk in Dwarka Sector 22, office complexes in two Rohini sectors, luxury hotels in Nehru Place and Dwarka Sector 23, and a hospital in Dwarka Sector 9. While Nehru Place is the smallest plot at 0.9 hectares, the largest is a 9.3-hectare site in Rohini, planned for a major office hub.
Hindustan Times
4 days ago
- Business
- Hindustan Times
Delhi: Nehru Place to get a 5-star hotel, DDA to earn ₹10,000 crore
New Delhi: Delhi's Nehru Place, one of the Capital's busiest commercial hubs, will soon host a new five-star luxury hotel — the first big-ticket project to take off under the Delhi Development Authority's revamped land disposal model. The milestone marks a shift in how DDA manages its prime assets and is expected to generate steady revenues for decades. File photo of the Nehru Place market. (Sanchit Khanna/HT PHOTO) Officials said Fleur Hotels Pvt. Ltd, a subsidiary of Lemon Tree Hotels Limited, has bagged the inaugural project under DDA's special licence property initiative. The allotment is expected to fetch DDA around ₹10,000 crore over the next 55 years. Also Read: Key Dwarka Expressway section, Urban Extension Road-II open; PM Modi inaugurates | Watch In its maiden request for proposal (RFP) floated on May 2 this year, DDA had offered a two-acre parcel in Nehru Place for the development of a luxury hotel. The auction, conducted on August 13, saw Fleur Hotels win with a bid of ₹27.19 crore per annum — nearly 50% higher than the reserve price of ₹18 crore. The fee will rise annually through the licence period, ensuring DDA a steady stream of revenue. 'This model moves away from DDA's old reliance on freehold or perpetual lease allocations, which were often unviable due to high land costs,' said a senior official. 'The focus now is on long-term annual licensing, which ensures marquee projects while keeping DDA the ultimate landowner.' The model, the official added, will also be extended to hospitality, warehousing, health, and retail projects. The Nehru Place hotel will be operated under Lemon Tree's luxury brand Aurika. Officials said it will be among Delhi's largest hotels, with over 500 rooms and suites, signature dining outlets, expansive banqueting facilities, and leisure amenities. The project will be modelled on Aurika, Mumbai SkyCity, blending 'grandeur with a distinctive Delhi flair.' For Lemon Tree Hotels, which caters to over 1.5 million guests annually across 110+ hotels in 75 cities, the Nehru Place project strengthens its presence in the Capital. 'Delhi has always been a strategic focus for us. Aurika's entry will deliver a luxury experience that's about living, not just staying – a landmark in style, comfort, and service for the region,' said Patanjali Keswani, chairman and managing director of Lemon Tree Hotels. The bidding process was managed by SBI Capital Markets Ltd., which acted as transaction advisor. Officials said the project not only bolsters DDA's revenue profile but also signals Delhi's growing appeal as a global hospitality and business hub.
