Omaxe Ltd signed an MoU with a Lemon Tree Hotels unit to develop 10 hotels with 4,000 rooms across India, backed by a ₹4,000 cr investment.

The MoU, or memorandum of understanding, is an early-stage deal and not yet a final contract.

Omaxe signed it on 16 October with Carnation Hotels, a wholly owned subsidiary of Lemon Tree.

Omaxe will develop the properties. Lemon Tree will run them under its own brands, for different segments of the market.

The hotels will come up in Lucknow, Vrindavan, Amausi, Ghaziabad, Greater Noida, Amritsar, Kaushambi and Faridabad.

Amritsar has the largest single project, a serviced apartment property with 745 rooms. Lucknow gets two hotels with 830 rooms between them, and Vrindavan gets two with 582.

Amausi adds a 693-room hotel near the airport. The rest are smaller, with 435 rooms in Faridabad, 350 in Kaushambi, 215 in Ghaziabad and 150 in Greater Noida.

Timelines differ from site to site. Some hotels could be ready in nine months, while others may take up to five years. Omaxe plans to pay for construction from property sales, not borrowing.

Omaxe Managing Director Mohit Goel said demand for hotels is growing beyond big metros, with smaller cities drawing business, leisure and pilgrimage travellers.

He said Lemon Tree brings established hotel operating experience, while selling properties to fund the work keeps Omaxe’s spending disciplined.

Lemon Tree Managing Director Neelendra Singh said the deal supports the company’s asset-light growth plan and widens its managed hotel portfolio.

Asset-light means Lemon Tree runs hotels without owning the buildings. This MoU is one piece of a bigger plan.

In June 2026, Omaxe announced a ₹6,200 crore push into hospitality, covering 19 hotels across five states. The Lemon Tree agreement covers 10 of them.

Omaxe was established in 1987 and has delivered 145.50 million sq ft of real estate across 32 cities.

Hotels now join its townships, commercial centres and mixed-use projects.

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