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Lemon Tree Hotels
Lemon Tree Hotels (LEMONTREE) investor relations material
Lemon Tree Hotels Investor update summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Investor update summary15 Jan, 2026
Strategic reorganization and transaction structure
Group to be split into two platforms: asset-light Lemon Tree (management, brand, digital services) and asset-heavy Fleur Hotels (ownership, development, leasing).
Lemon Tree merges two subsidiaries; four more subsidiaries and 12 hotels (11 operational, 1 under construction) demerged into Fleur Hotels.
Shareholders of Lemon Tree will directly and indirectly own 73.99% of Fleur Hotels; Warburg Pincus to acquire 26.01%.
Warburg Pincus to acquire APG's 41.09% stake in Fleur Hotels and invest up to INR 960 crores in equity capital.
Fleur Hotels to be listed as a separate entity within 12–15 months, pending approvals.
Business model and growth outlook
Lemon Tree to focus on asset-light, high-margin fee business with 70%+ EBITDA margins and minimal capital needs.
Managed/franchised pipeline of 9,414 rooms from third-party owners; strategic stake in Fleur Hotels for growth upside.
Fleur Hotels to own/lease 39 hotels with 5,556 rooms and 2 under-construction hotels, largest among Indian asset owners.
Both platforms to have independent management, governance, and capital-raising flexibility.
Lemon Tree to define a dividend distribution policy post-approval.
Financial and operational performance
Lemon Tree's fee income projected to grow from INR 112 crores (FY23) to INR 171 crores (FY25), with high ROCE.
Fleur Hotels' total revenue expected to grow at 19.1% CAGR (FY23–FY25), with EBITDA margins above 42%.
Fleur Hotels' assets located in prime urban, resort, and airport markets with high barriers to entry.
Warburg Pincus partnership to provide capital and global best practices for Fleur Hotels' expansion.
Fleur Hotels' capital deployment strategy
Lemon Tree's post-demerger dividend policy
Strategy for expanding market share
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Next Lemon Tree Hotels earnings date
Q3 25/266 Feb, 2026
Lemon Tree Hotels
Next Lemon Tree Hotels earnings date
Q3 25/266 Feb, 2026
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Frequently asked questions
Lemon Tree Hotels Limited is a hospitality company engaged in the ownership, management, and operation of hotels across various segments. The company offers accommodations ranging from upscale to economy hotels, catering to business and leisure travelers. Its services include lodging, dining, event spaces, and extended stay options. Lemon Tree Hotels Limited is headquartered in New Delhi, India, and its shares are listed on the NSE and BSE.
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