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Lemon Tree eyeing global suite
Lemon Tree, the upscale mid-market hotel, has invested about Rs 500 crore in the domestic market and around Rs 200 crore in New York in the last two months. While most of the domestic expansions are through greenfield projects, the chain has also acquired existing hotel properties to step up its presence across the country. In Gurgaon, the chain is investing close to Rs 250 crore in a 3.5-acre plot to build a Lemon Tree of 150 rooms, 200-room Red Fox (its budget brand) and a commercial complex to be completed by 2010. In Shimla, it has acquired a 6-acre