Latest news with #FleurHotels
Yahoo
a day 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
Business Standard
a day 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.
Time of India
2 days ago
- Business
- Time of India
DDA's land licensing model bags ₹10,000 crore deal
NEW DELHI: The Delhi Development Authority (DDA) has awarded the first project under its new Special License Property (SLP) initiative to Fleur Hotels , a subsidiary of Lemon Tree Hotels , officials said on Saturday. The project is expected to generate approximately Rs 10,000 crore over a 55-year period. "DDA had invited bids through a Request for Proposal (RFP) issued on May 2, 2025, for a 2-acre land parcel in Nehru Place earmarked for a five-star hotel. 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 of Rs 18 crore," DDA said in a statement. This marks a major shift in DDA's land disposal policy. Moving away from the traditional freehold and perpetual lease models, the SLP initiative allows long-term development on an annual license basis. Reforms set into motion last year by Lt Governor VK Saxena, have yielded spectacular results in terms of revenue generation for the DDA even while facilitating the much needed developments in the capital, the statement added. According to officials, the Rs 10,000-crore revenue estimate includes annual fee escalations over the 55-year license term. "This new model is expected to significantly boost DDA's income, while facilitating key infrastructure development across hospitality, healthcare, logistics, and retail sectors," the statement added. The project awarded to Fleur Hotels will see the development of "Aurika" at Nehru Place, one of Delhi's largest luxury hotels with over 500 rooms. Lemon Tree Hotels, which operates more than 110 properties in over 75 cities, plans to bring its upscale brand experience to the Capital through this venture.
Indian Express
3 days ago
- Business
- Indian Express
Pitched as of one of largest luxury hotels in city, DDA awards first project under revamped licencing policy
In a major boost to its revenue generation strategy, the Delhi Development Authority (DDA) has awarded the first project under its new Special License Property (SLP) initiative to Fleur Hotels Pvt Ltd, a subsidiary of Lemon Tree Hotels. The landmark project is expected to generate approximately Rs 10,000 crore over a 55-year period, the planning and development agency said on Saturday. The project involves the development of a five-star hotel on a 2-acre land parcel in Nehru Place and is the first to be awarded under DDA's revamped land licencing policy. Under the awarded project, Fleur Hotels will develop 'Aurika' at Nehru Place, envisioned as one of Delhi's largest luxury hotels, featuring over 500 rooms. Lemon Tree Hotels currently operates more than 110 properties across over 75 cities in India and aims to bring its upscale brand experience to the Capital through this venture, said the hotel chain/. 'DDA had invited bids through a Request for Proposal (RFP) issued on May 2, 2025, for a 2-acre land parcel in Nehru Place earmarked for a five-star hotel. The bidding process, conducted on August 13, saw Fleur Hotels secure the project with an annual licence fee offer of Rs 27.19 crore—about 50% higher than the reserve price of Rs 18 crore,' DDA said in a statement. The move signals a significant shift in DDA's land disposal policy — from the conventional freehold and perpetual lease models to a long-term development model based on annual licencing. 'Reforms set into motion last year by Lt Governor VK Saxena have yielded spectacular results in terms of revenue generation for the DDA, even while facilitating much-needed developments in the Capital,' the statement added. Officials said that the Rs 10,000 crore revenue projection includes annual fee escalations over the 55-year term. 'This new model is expected to significantly boost DDA's income while facilitating key infrastructure development across hospitality, healthcare, logistics, and retail sectors,' the statement highlighted.
Mint
3 days ago
- Business
- Mint
DDAs land licensing model bags ₹10,000 cr deal
New Delhi, Aug 16 (PTI) The Delhi Development Authority (DDA) has awarded the first project under its new Special License Property (SLP) initiative to Fleur Hotels, a subsidiary of Lemon Tree Hotels, officials said on Saturday. The project is expected to generate approximately ₹ 10,000 crore over a 55-year period. "DDA had invited bids through a Request for Proposal (RFP) issued on May 2, 2025, for a 2-acre land parcel in Nehru Place earmarked for a five-star hotel. The bidding process, conducted on August 13, saw Fleur Hotels secure the project with an annual license fee offer of ₹ 27.19 crore, about 50 per cent higher than the reserve price of ₹ 18 crore," DDA said in a statement. This marks a major shift in DDA's land disposal policy. Moving away from the traditional freehold and perpetual lease models, the SLP initiative allows long-term development on an annual license basis. Reforms set into motion last year by Lt Governor VK Saxena, have yielded spectacular results in terms of revenue generation for the DDA even while facilitating the much needed developments in the capital, the statement added. According to officials, the ₹ 10,000-crore revenue estimate includes annual fee escalations over the 55-year license term. "This new model is expected to significantly boost DDA's income, while facilitating key infrastructure development across hospitality, healthcare, logistics, and retail sectors," the statement added. The project awarded to Fleur Hotels will see the development of "Aurika" at Nehru Place, one of Delhi's largest luxury hotels with over 500 rooms.
