Mumbai, Oct. 22 -- Omaxe has signed an MoU with Carnation Hotels, a wholly owned subsidiary of Lemon Tree Hotels, to operate 10 hotel projects comprising 4,000 keys across India. The projects involve an estimated investment of Rs 40 billion and form part of Omaxe's Rs 62 billion hospitality expansion announced in June 2026.
The hotels will be developed across Lucknow, Vrindavan, Amausi, Ghaziabad, Greater Noida, Amritsar, Kaushambi and Faridabad, targeting business, leisure and pilgrimage travellers. Development and commissioning timelines will range from nine months to five years.
The projects will follow a sale-led development model, with Omaxe expecting to finance construction through sales proceeds without relying on loans.
Published by HT Digital Content Services with permission from Construction World.