Shares of Lemon Tree Hotels surged 8% in morning trade on Friday as the company announced forming a joint venture with an affiliate of Warburg Pincus to create a co-living platform.
An affiliate of Warburg Pincus, Magnolia Grove Investment Limited, and Lemon Tree Hotels Limited will hold 68% and 30% stake, respectively in the JV (Hamstede Living Private Limited). The balance 2% will be held by Mr. Patanjali Keswani, Chairman and Managing Director of Lemon Tree Hotels.
Lemon Tree Hotels (LTHL) has a development pipeline of 3,388 rooms (31 hotels) across key markets over FY18-21E.
LTHL is present across the value chain ranging from acquiring land to owning, developing, managing, and marketing hotels through its subsidiary, Grey Fox.
Owing to reviving room demand as well as limited supply growth, we expect revenue CAGR of 28% over FY18-20E for the company.
An affiliate of Warburg Pincus, Magnolia Grove Investment Limited, and Lemon Tree Hotels Limited will hold 68% and 30% stake, respectively in the JV (Hamstede Living Private Limited). The balance 2% will be held by Mr. Patanjali Keswani, Chairman and Managing Director of Lemon Tree Hotels.
Lemon Tree Hotels (LTHL) has a development pipeline of 3,388 rooms (31 hotels) across key markets over FY18-21E.
LTHL is present across the value chain ranging from acquiring land to owning, developing, managing, and marketing hotels through its subsidiary, Grey Fox.
Owing to reviving room demand as well as limited supply growth, we expect revenue CAGR of 28% over FY18-20E for the company.
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