• Expansion target: Lemon Tree has roughly 12,000 rooms open, half owned and half managed, and expects that to become 25,000 in the next 3, 4 years, based on signed projects. It aims to have at least 1 hotel in each of roughly 200 Indian cities with populations above 5 lakh within 3 years, 4 years.
• Market strategy: The company serves customers from entry-level 5-star through 2 to 4-star hotels, across brands including Aurika, Lemon Tree Premier, Lemon Tree, Red Fox and Keys. It also wants hotels in the 6, 7, 8 countries where Indians commonly travel, to capture their business abroad.
• Asset-light model: Lemon Tree is separating its hotel management and operations business from ownership and development. Lemon Tree will focus on managing and operating hotels, while Fleur Hotels, in which Lemon Tree has a 60% stake, will own and develop properties; the company plans to take Fleur public next year and use public-market funding.
• People and technology: Keswani identified talent availability and continual technology upgrades as key priorities for supporting expansion. He said hospitality has high attrition, and Lemon Tree trains and employs people who may be illiterate or have disabilities, including in entry-level roles.
• Risk resilience: The board reviews risks every 3 months, assessing likelihood, impact and mitigation. Keswani said the company has substantial capital and stronger capacity to withstand shocks after COVID, when its business fell from 100 to 5.