Lemon Tree Hotels eyes 4,000 rooms by 2016.

Lemon Tree Hotels, which currently operates 24 hotels with 2,800 rooms, plans to own at least 4,000 rooms across 28 properties by 2016. The hospitality firm is also looking to hive off its assets into a real estate investment trust (RIET) and list itself as a hotel management company in two-four years.

Meanwhile, market regulator SEBI has deferred finalising the regulatory framework for REITs because there is no clarity on the taxation issue.

The company recently opened its twin properties - Lemon Tree Premier and Red Fox - at Delhi Aerocity near the airport after a delay of nearly a year due to security concerns.


HBL