Patu Keswani reinvented India ’ s hospitality mid-market . The chairman and MD of Lemon Tree Hotels Limited founded the company in 2002 and took it public in March . After a tough half-dozen years , India ’ s hotel industry is on an upcycle , and Lemon Tree ’ s confirmed pipeline will grow to 8,500 rooms from 5,000 in the next three years . With additional |
new sign-ons , it ’ s likely the chain will control 15 % of India ’ s mid-market inventory by 2021 . “ It ’ s a golden runway ,” he says .
Keswani is looking to add an upperscale brand to his Premier , Lemon Tree and Red Fox brands , mostly in managed hotels , and a new collection brand . And he ’ s in discussions for two hotels in Dubai and one in New
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York . “ Over time , in an asset-light way , we should go international ,” he adds . He ’ s keeping an eye on the increasing number of Indians traveling abroad — and where they are going : New York , London , Dubai , Kathmandu . “ If I |
want to capture the full share of the wallet of my customers , then I need to offer them accommodation options even in those cities . But we don ’ t want to invest capital outside India at present .” — Raini Hamdi |