Lemon Tree Hotels to acquire Keys Hotels.

Lemon Tree Hotels, India's largest hotel chain in the mid-priced sector, agreed to acquire Keys Hotels, Berggruen Hotels’ brand of full-service hotels, taking its total inventory to 8k rooms in 77 hotels across 45 destinations. Financial terms were not disclosed. “We are pleased about this acquisition and the geographic spread that the Keys Hotels portfolio brings with it. We will now instantly enter 9 new destinations and simultaneously consolidate inventory in 7 of our current destinations. Going forward, we will add value to the top line of these hotels both in terms of higher yield and greater occupancies,” Patanjali Keswani, Lemon Tree Hotels Chairman and MD.