Lemon Tree Hotels signs new hotel in Visakhapatnam under Keys Lite brand

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NEW DELHI: Lemon Tree Hotels has announced the signing of a 44-room property under its Keys Lite brand in SreeKanya, Visakhapatnam, Andhra Pradesh, its fourth in the state.

Owned by SreeKanya Combines, the property is expected to be operational by March 2023 and will be managed by Carnation Hotels, a subsidiary and management of Lemon Tree Hotels.

Gajuwaka is considered the shopping district of Andhra Pradesh. Visakhapatnam Airport is eight kilometers away. The hotel is located in Gajuwaka and has 44 rooms and a multi-cuisine restaurant.

Mahesh Aiyer, CEO of Carnation Hotels Private Ltd., said, “This will be our fourth property in this state which holds immense business and tourism potential. We will sign and open more hotels to expand our offerings for customers and owners in the tourism and hospitality industry.”

Strong pent-up demand for leisure travel, the opening up of international and business travel and wide vaccination coverage are expected to catapult Indian hospitality industry revenue by 45% from a decade low and reach almost pre-pandemic (fiscal 2020) levels, found a report by Crisil Ratings.

Rebounding revenues and lower cost structures can boost operating profitability by 200 to 400 basis points in this fiscal year compared to fiscal 2020, according to its analysis of hotels totaling 30,000 rooms across all categories.

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