KMRF invests Rs 34 cr in Lemon TreeHotels
Kotak Mahindra Realty Fund on Wednesday announced Rs 32 crore investment in Lemon Tree Hotels, and Rs 2 crore in Red Fox Hotels of the same group.
By PTI |
NEW DELHI: Kotak Mahindra Realty Fund on Wednesday announced Rs 32 crore investment in Lemon Tree Hotels, and Rs 2 crore in Red Fox Hotels of the same group.
The fund will be used to further expand the network and enhance the company's pan-India presence, Lemon Tree Hotels Managing Director Patu Keswani said in a release.
Earlier this month, the company garnered an investment of Rs 210 crore from private equity firm Warburg Pincus, he said.
Red Fox Hotels, a limited service economy hotels promoted by Patu Keswani, got an investment Rs 70 crore investment from Warburg Pincus besides investment coming from Kotak Mahindra Realty Fund.
Lemon Tree Hotel is currently operating two hotels in Gurgaon and developing properties in Mumbai, Jaipur and Hyderabad.
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