Entrepreneur patu Keswani’s Lemon Tree Hotels became the second hotel, after JW Marriott, to open at Delhi Aerocity near the IGI Airport.
Two of its brands—Lemon Tree Premier (four-star) and Red Fox Hotel (budget) were launched in late December.
The year-long delay has cost Keswani Rs 100 crore and has robbed him of the most lucrative month for hoteliers, November. That has made his break-even time even longer.
But there is a blessing. Aerocity will be the biggest hub for hospitality in India when all 5,000 rooms (of various hotels) are ready. This might take three more years, which gives Lemon Tree enough time to operate without much competition.
Check out our Festive offers upto Rs.1000/- off website prices on subscriptions + Gift card worth Rs 500/- from Eatbetterco.com. Click here to know more.
(This story appears in the 24 January, 2014 issue of Forbes India. To visit our Archives, click here.)
Lemon tree comes in the 4 star category. So its a kind of cheap luxury hotel.on Jan 14, 2014