Rattan Keswani, the erstwhile president of Trident Hotels at East India Hotels Ltd (EIH) is likely to partner with Patu Keswani, chairman and managing director of Lemon Tree Hotels Pvt Ltd (LTHPL), which owns and manages the Lemon Tree Premier, Lemon Tree and Red Fox chain of hotels.
While both Rattan and Patu are tight-lipped about their possible association to launch a new business venture, people familiar with the development said an announcement is likely once Rattan Keswani completes his notice period at EIH by April-end.
“He (Rattan) is partnering hands with Patu Keswani to launch the third-party hotel management company which is on the cards. He will be heading the new venture as its president,” said a top official from a leading hospitality company.
Both Rattan and Patu however, did not respond on the said development.
In an earlier interaction, Patu Keswani had shared some of the new developments being worked out at Lemon Tree Hotels including the setting up of a new third-party hotel management company. The new venture was being mulled keeping in mind the growing demand for professional hotel management companies, which industry experts also feel, is a quicker way of expanding business and gaining market share in the current business environment.
“It (hotel management company) is going to be a step-down company where we will do joint venture with other people. It could also be a subsidiary of Lemon Tree where we will be managing hotels of other asset owners,” said Patu Keswani.
Thus projects meeting LTHPL’s brand standards would be operated / managed under the company’s existing brands viz. Lemon Tree Premiere, Lemon Tree or Red Fox. However, LTHPL will also create three new brands to operate / manage hotels that don’t meet the hotel company’s brand standards.
“We intend to do management contracts only in the mid-scale, upscale and deluxe categories. Thus, three new brands are currently being conceived and work is in a very preliminary stage. The new brands will sit in the management company and we should be ready to unveil them in another 3-4 months from now,” he said.
While both Rattan and Patu are tight-lipped about their possible association to launch a new business venture, people familiar with the development said an announcement is likely once Rattan Keswani completes his notice period at EIH by April-end.
“He (Rattan) is partnering hands with Patu Keswani to launch the third-party hotel management company which is on the cards. He will be heading the new venture as its president,” said a top official from a leading hospitality company.
Both Rattan and Patu however, did not respond on the said development.
In an earlier interaction, Patu Keswani had shared some of the new developments being worked out at Lemon Tree Hotels including the setting up of a new third-party hotel management company. The new venture was being mulled keeping in mind the growing demand for professional hotel management companies, which industry experts also feel, is a quicker way of expanding business and gaining market share in the current business environment.
“It (hotel management company) is going to be a step-down company where we will do joint venture with other people. It could also be a subsidiary of Lemon Tree where we will be managing hotels of other asset owners,” said Patu Keswani.
Thus projects meeting LTHPL’s brand standards would be operated / managed under the company’s existing brands viz. Lemon Tree Premiere, Lemon Tree or Red Fox. However, LTHPL will also create three new brands to operate / manage hotels that don’t meet the hotel company’s brand standards.
“We intend to do management contracts only in the mid-scale, upscale and deluxe categories. Thus, three new brands are currently being conceived and work is in a very preliminary stage. The new brands will sit in the management company and we should be ready to unveil them in another 3-4 months from now,” he said.
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