Lemon Tree Hotels Limited
Main Body
Fleur Hotels Limited (FHL), a material subsidiary of Lemon Tree Hotels Limited, has completed the registration of the Deed of Conveyance and related documents for the acquisition of a land parcel in Bandra (East), Mumbai on September 24, 2026. This follows an earlier disclosure dated September 18, 2026.
The acquisition was made from Asara Co-Operative Housing Society Limited, Nine Dimensions Housing LLP, and others. The purpose is to acquire land with all entitlements and benefits, admeasuring about 989.30 square meters, for the development of a hotel.
The total consideration for the acquisition is Rs. 120 Crores, exclusive of Stamp Duty and Registration charges. There is no shareholding in the entities from whom the land was acquired, and the parties are not related to the promoter/promoter group/group companies in any manner. The transaction does not fall within related party transactions and was conducted at arm's length.
The strategic rationale, as stated by Managing Director Mr. Neelendra Singh, is to expand the group's cluster-level market density in Mumbai. The proposed hotel will be developed under the "Lemon Tree Premier" brand as an upscale full-service property with approximately 172 keys. It will be located along the Western Express Highway, adjoining Bandra Kurla Complex (BKC), and will offer contemporary rooms and suites, all-day dining, a fitness centre, and swimming pool facilities. This will be the group's seventh property in Mumbai.