Lemon Tree Hotels is set to add 3,200 rooms in the next three years with the occupancy level expected to touch 80 percent by FY20, said Kapil Sharma, CFO of the Hotel chain.
“We are opening hotels now in the deep-demand markets where the average daily rates (ADRs) are also high and occupancy level will also be good,” Sharma said.
Lemon Tree on Sunday opened a new hotel under the brand name Red Fox Hotel in Morjim, Goa.
Currently, the company is working with 75 percent capacity and expected it to continue for one more year, said Sharma, adding that they are now operating 5,000 rooms in 50 hotels.
Sharma said that the hotel major has currently Rs 1,000 crore of debt and this will go up to Rs 1,300 crore in next one year but will come down after that.