- Omaxe plans 10 hotels in India.
- Estimated cost is $421 million.
- Developments include service apartments.
The portfolio includes a 500-key property at Bus Terminal Jankipuram in Lucknow and a 330-key property at Bus Terminal Vrindavan Yojna in Lucknow. A 693-key development is planned for Amausi, near the airport.
In Vrindavan, the projects include Omaxe Eternity-II, with 501 keys and Omaxe BeTogether Courtyard, with 81 keys. Other developments include a 215-key property in Ghaziabad, a 150-key property in Greater Noida, 745 service apartment keys in Amritsar, a 350-key project in Kaushambi and a 435-key property in Faridabad.
“Demand for hospitality is expanding beyond established metropolitan markets, with tier-two and tier-three cities emerging as destinations for business, leisure and pilgrimage travel,” said Mohit Goel, Omaxe managing director.
Neelendra Singh, LTHL managing director, said tier-two and tier-three cities have been a key part of its expansion plans.
“The arrangement will support faster growth across transit hubs, temple towns and other markets,” Singh said.
Omaxe plans to use money from property sales to complete the projects instead of taking loans. The projects are expected to open within nine months to five years, depending on their size and stage of development, the statement said.
Separately, LTHL is planning a 52-key Keys Select hotel in Bareilly, Uttar Pradesh.
