Hospitality

Dutch Fund raises stake to 13% in Lemon Tree

DELHI

Dutch pension fund APG Asset Management has raised its stake in Delhi-based mid-market hotel chain Lemon Tree to 13% from 5.66% with a Rs 300 crore investment.

This is the first foreign direct investment in the hospitality sector in India in 2014. Patu Keswani, chairman and managing director at Lemon Tree, said the fresh capital will be used to expand Lemon Tree’s room strength to 8,000 by 2017 from the current 2,800.

Full report here Economic Times

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