Lemon Tree's subsidiary signs 28-year license for heritage hotel in Varanasi
Lemon Tree Hotels' subsidiary, Fleur Hotels Limited, signed a 28-year license deed for a heritage hotel in Varanasi. The property will feature approximately 47 rooms and be branded as "Aurika Varanasi". This expansion reinforces the company's strategy in culturally significant destinations.
The addition of a new hotel, especially a heritage property under a premium brand, contributes to the company's growth and market presence, indicating a medium-term impact on its portfolio.
The announcement details the signing of a new license deed for a heritage hotel, which is a positive development for the company's expansion and brand presence.
Lemon Tree Hotels Limited announced that its material subsidiary, Fleur Hotels Limited, has signed a License Deed for a Heritage Hotel in Varanasi. The agreement is for a term of 28 years.
Under the terms of the agreement, Fleur Hotels Limited will be responsible for the repair and reconstruction of the heritage hotel. The property will comprise approximately 47 elegant rooms and will be branded as “Aurika Varanasi”.
The hotel is strategically located on the ghat adjoining the river Ganges. It is approximately 4 km from Varanasi Junction Railway Station and about 26 km from Lal Bahadur Shastri International Airport, ensuring accessibility for travelers. The upcoming hotel will feature around 47 rooms, a restaurant, and other public areas, aiming to offer a refined hospitality experience.
This development is expected to strengthen Lemon Tree Hotels' presence in Uttar Pradesh and its focus on expanding in leisure and destination-led markets, particularly in culturally significant cities with strong tourism potential. Mr. Patanjali Govind Keswani, Executive Chairman, Fleur Hotels Ltd, stated that this will be the sixth owned/leased hotel under the upper upscale Aurika brand and reinforces Fleur Hotels' long-term asset ownership strategy.
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