Mid-range hotel chain Lemon Tree Hotels is acquiring Keys Hotels for Rs 471 crore in a bid to expand its portfolio. The Warburg Pincus-backed hospitality company is making the acquisition through Fleur Hotels, its wholly-owned subsidiary. With this, Berggruen Hotels will become an indirect subsidiary of Lemon Tree. The company expects to complete the transaction within two months.
Lemon Tree to buy Keys Hotels for Rs 471 cr, deal likely in two months
Date posted: Tuesday 2 July 2019