Lemon Tree Hotels Limited has announced that its board has approved the purchase of land in Mumbai for hotel development. The company also greenlit the incorporation of a wholly-owned subsidiary in the Republic of Maldives. These strategic moves signal expansion efforts in both domestic and international hospitality markets.
Strategic Expansion Moves Approved
The Board of Fleur Hotels Limited, a material subsidiary of Lemon Tree Hotels Limited, has given its approval for two significant strategic initiatives. These approvals were finalized during a board meeting held on September 18, 2026, signaling active steps towards enhancing the company’s hospitality portfolio and global presence.
Mumbai Land Acquisition for Hotel Development
The first key approval pertains to the purchase of a land parcel in Mumbai. This land is earmarked for the future development of a new hotel. The Subsidiary Company is currently in the process of executing the definitive agreements necessary for this acquisition, ensuring compliance with all applicable laws and regulatory procedures. This move underscores the company’s commitment to expanding its footprint in key metropolitan areas.
Incorporation of Maldives Subsidiary
Secondly, the board has approved the incorporation of a wholly-owned subsidiary in the Republic of Maldives. This strategic decision marks an important step in the company’s international expansion strategy. Further details regarding this incorporation, as required by SEBI LODR and relevant circulars, are provided in Annexure-A of the disclosure.
Public Availability of Information
The information regarding these board approvals is also publicly accessible on the official website of Lemon Tree Hotels Limited at www.lemontreehotels.com.
Annexure-A: Details of Maldives Subsidiary
The proposed subsidiary in the Maldives will operate in the Hospitality Sector. The name of the entity is yet to be finalized, pending approval from the regulatory authorities in the Maldives. The incorporation process has yet to be initiated. The company will be a Wholly Owned Subsidiary of Fleur Hotels Limited. The initial subscription to the capital will be in cash via Bank Transfer as per RBI regulations, amounting to 2000 Maldivian Rufiyaa (MVR) or an equivalent amount as per local laws. Fleur Hotels Limited will hold 100% share capital of this new entity.
Source: BSE
