warburg-pincus-buys-indian-hotel-chain

Warburg Pincus buys Indian hotel chain

Private equity firm looks to tap into India's fast growing hospitality sector.
August 01, 2006
Warburg Pincus's latest India transaction will see the private equity firm invest Rs2.8 billion $60.9 million in the hospitality sector. Warburg Pincus will invest Rs2.1 billion in Lemon Tree Hotels and Rs700 million in Red Fox Hotels a new company promoted by the Lemon Tree chairman and managing director.

Lemon Tree Hotels operates in the full service, moderate price category. Its rooms are priced in the Rs3000-5000night range and are targeted to price sensitive business and leisure travellers. Since it was promoted in 2002 it has opened two hotels in DelhiÆs fast growing suburb and IndiaÆs business process outsourcing BPO hub, Gurgaon. Lemon Tree was one of the first hotels to open in Gurgaon...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222