Hilton CEO affirms sunny disposition. But even he recognizes the clouds.
Hilton CEO affirms sunny disposition. But even he recognizes the clouds.
Hilton President & CEO Chris Nassetta in discussion with Liz Hoffman, business and finance editor for Semafor.
https://hotelsmag.com/news/hilton-ceo-affirms-sunny-disposition-but-even-he-recognizes-the-clouds/
by David Eisen
WASHINGTON — Chris Nassetta, the long-time president and CEO of Hilton, is known for maintaining a sunny disposition. That distinction was put to the test during a conversation at the Semafor World Economy conference, here at the Conrad Washington, D.C., home-field advantage notwithstanding.
Though the overall tone of his 15-minute discussion was overall sanguine, he was not beyond pointing out data that suggest the U.S. has become less attractive as a travel destination.
“If you go back 20 or 30 years,” he said, “U.S. market share for inbound international travel was 15%. If you look at it today, it’s 8% and going down.”
That decline, he continued, has resulted in a huge economic deficiency, including job losses and “probably $200 billion of economic activity.”
According to Nassetta, the paucity of inbound U.S. travel isn’t sensible given what he referred to as the “best attractions, unbelievable culture and infrastructure.” His entreaty to the current White House administration and those to come revolves around making a concerted effort over the next decade to bolster the numbers. “This is not a criticism of this administration,” he said, citing its efforts to reduce visa wait times—though up to now this has focused on shortening wait times for religious workers, while putting onerous restrictions on visa programs like H-1B. He closed his scrutiny by saying that if Hilton’s market share had halved during his tenure, he wouldn’t have a job. “To me, it’s economic activity, because every time somebody comes here, it’s an export. We went from a $100-billion surplus 10 years ago to a $50-million deficit. I think this White House is willing to listen.”
Better Days
Gloomy commentary quickly gave way to a more propitious outlook, especially related to the business of hotels. Though the high end of the market has been the dominating force and rewards beneficiaries in the so-named K-shaped economy, Nassetta coined a new phrase: the convergence economy, where, he said, the middle and the bottom are going to come up and, ultimately, meet the top. “The bulk of our business is in the mid-market and has not been doing well. But as we got to the middle of last year, it became obvious to me that if you lift it up, above the noise of Washington and the geopolitical things that were going on, there were some really good macro trends that were building blocks to great improvement in the economy,” he said.
Part of the reason for his case centered on inflation, which, he said, was structurally coming down, if you pull out “the temporary issue” of higher gas prices. “Rates have come down,” he said. “You’re in one of the most powerful deregulatory environments in modern history. In other words, the tide is coming in, and the tide is unstoppable. We’re going to see a convergence, this C economy, and we’re going to get away from the K economy.”
This imminent shift, Nassetta said, is buoyed by data and trend lines that began to appear in the fourth quarter last year and carried into Q1; namely, more middle-of-the-week and business travel in a growing number of mid-market locations that benefit such Hilton brands as Hampton, Home2 Suites, Hilton Garden Inn, and Tru that cater to the space.
Huge investments across industries, none more than in AI, are another sign Nassetta pointed to as reason for optimism. “Productivity associated with AI has to be deflationary,” he said. His rosy outlook extends to investment programs implemented during the past administration—the $1.6-trillion infrastructure bill and the $28-billion CHIPS and Science Act, both of which pump money into the U.S. economy. Both programs, he said, have yet to be fully realized, with only small portions of the actual money yet spent. “If that’s not enough, you have the backdrop of one of the greatest productivity booms of all time, led by AI,” he said.
Hilton is not immune to the current wobbly geopolitical and macro-economic picture pockmarked by the war in Iran that has inflated oil prices and stifled supply chains. Asked about Hilton’s Middle East business, Nassetta said that he expected “hundreds” more Hilton hotels to be developed in the region; however, he stressed, it’s contingent on its development partners there: Hilton is out of the business of owning hotels, relying instead on partners to spend money and finance the development of properties that will carry one of Hilton’s brands on them. “We’re a consumer-branded business. We either operate or license our brand. We own nothing,” he said. “When we say we are building anywhere in the world, it really is with local partners. Laws of economics will drive what the ultimate outcome is in terms of our development there.”
Though the Middle East remains a growth priority, it pales in comparison to Asia Pacific, specifically India, Nassetta said, where population and population growth far overshadow the Middle East. “If you asked if we're going to have as many hotels in the Middle East as we’re going to have in Asia Pacific, the answer is no,” he said. The opportunity in the region is 10x that of the Middle East. “You have billions of people you’re serving; in the Middle East, it’s a much smaller population,” he said.
This Was the Worst Airport Experience I’ve Ever Had
Liderina/iStock
https://www.fodors.com/news/news/missed-connection-in-lima-airport-exposes-latam-rebooking-delays-and-customs-chaos
A traveler’s missed connection in Lima reveals long customs lines, confusing baggage recheck, and frustrating LATAM rebooking rules that led to a three-hour delay.
It’s fun flying airlines I don’t frequently fly, just to see how they’re different. I’m an airline nerd who worked in the airline industry for decades, and I love discovering the minor differences between airlines, like which airlines request passengers raise window shades for landing and which don’t, or which airlines mercifully spare us all the in-flight announcements about “exciting opportunities” to apply for credit cards.
I run into my share of messes, too. While they’re frustrating in the moment, it’s more interesting to peel back the layers after the fact.
Earlier this week, I flew from Dallas to Cusco, Peru, on Delta Air Lines and its partner LATAM Airlines. My flight from Dallas to Atlanta was operated by Delta, and the remaining onward flights from Atlanta to Lima and Lima to Cusco were operated by LATAM Perú, with a Delta flight number.
Everything clicked right along until I got to Lima. My overnight flight from Atlanta arrived on time (a few minutes early, in fact), and I thankfully had a seat near the front of the aircraft, so I was one of the first off toward customs.
That’s where everything fell apart. The queues in the customs halls were enormous. And that’s not something I can particularly fault anybody for. Screening travelers coming into your country is something you want to do thoroughly. But all told, it took an hour and fifteen minutes to get through the line.
I collected my checked bag, which was waiting for me, and the agent directed me upstairs to the LATAM ticket counter to re-check my bag. Unlike many other international airports, the Jorge Chávez International Airport in Lima doesn’t have a dedicated baggage re-check area before the customs exit, so passengers connecting to domestic flights must enter the same travel flow as any other passenger arriving for a domestic flight.
Upon reaching the LATAM ticket counter, the bag drop line was massive, but the agent checking boarding passes at the podium saw that my domestic ticket was in Premium Economy, so they directed me to the Premium Economy check-in counters. LATAM doesn’t maintain a bag drop-only line for Premium Economy passengers, so I joined a line about five passengers deep to wait to check in. And wait, I did, for all the passengers at the ticket counter seemed to be originating a home mortgage instead of checking in for a domestic flight. I arrived in the line at around 6:15 and didn’t get to an agent until 6:30 (for a 7:05 scheduled departure). I already began to suspect I had missed the cutoff (it’s 30-45 minutes for U.S. domestic flights; airlines in many other countries tend to have longer cutoffs).
The agent informed me that I had missed the cutoff for checking my bag, so we’d have to go on the next flight. Ok, I get it, things happen. Let’s book the next flight. The agent said they couldn’t book me on a new flight until the flight I was currently on—the flight we both knew I wouldn’t be taking—had departed without me. Come back at 7:05, they said. They were pleasant about it, but that was a first for me. It’s pretty standard practice at airlines around the world that if you’re not going to make the flight you booked, you get put on the next one (either standby or confirmed, depending on what each airline’s policy is).
I went and came back, and it took 45 minutes to rebook me onto a later departure. The agents explained they needed to get authorization to book another seat on the flight to Cusco. The authorization part made sense (Cusco is a high-altitude airport with operational restrictions), but the fact that it took so long was an added frustration. The Lima-Cusco market is a key one for LATAM Perú, and passengers need rebooking after missing flights every day.
I ultimately got to Cusco three hours late and frustrated, because LATAM recommends 95 minutes for an International-Domestic connection at Lima, and I had 125.
So, what went wrong, aside from the atrocious Customs line?
I contacted LATAM Péru’s press office for some clarifications.
A LATAM spokesperson confirmed that there wasn’t a baggage re-check at LIM within the international arrivals area. They also let me know they do have dedicated counters for passengers making connections, which I must have missed (the two agents to whom I showed my boarding card might also have mentioned it). “While LATAM has implemented dedicated connection counters (located in the check-in lobby area) and support teams to assist, we recognize that this setup is not as seamless as in other international hubs where recheck belts are available immediately after customs,” said the spokesperson.
The other burning question I had was why I couldn’t immediately be rebooked. At most airlines, a flight goes into “gate control” mode at a pre-determined time prior to departure (typically when the ticket counter cuts off check-in for the flight, a half hour to an hour prior to departure, depending on the airline’s internal rules, and sometimes on local government or airport regulation). Up until that point, there are a lot of “hands” on the inventory for the flight. Passengers can book seats and check bags with agents at the counter, gate, or reservations center, at a kiosk, online, or on the airline’s mobile app. Gate Control mode shuts all that down, so that only agents at the departure gate can make further changes. This is to allow operations staff to start planning the weight and balance for the flight without all the “hands” making changes while they’re doing it.
The exception, at most other airlines, is cancellations. You can’t add passengers or bags to a flight in gate control mode, but you can take them off. Some airlines are a bit more restrictive in this, and it might require a phone call to the gate or to a designated control agent to offload a checked-in passenger. Most airlines recognize the need to immediately rebook a passenger who won’t make the flight (because they’re frustrated and need a resolution). LATAM is an outlier here.
Explains the spokesperson, “In the case of LATAM at [Lima], once the flight is closed in the system, the process is more restrictive. Final passenger data is transmitted for weight and balance calculations, and subsequent modifications are operationally limited. While offloads may still occur at the gate for no-show passengers, these are handled under a different operational process and timing, and are not always reversible at the check-in level once closure has been executed.”
Here’s where I noted the logical fallacy. They’re basically telling customers, “We can’t take you off the flight because of weight and balance, but we know you won’t be on the flight, so the weight and balance is going to be wrong—until we take you off later, when it’s more convenient for us.”
LATAM responded that they “understand [my] point regarding the apparent inconsistency, and it is a fair observation. The current process prioritizes procedural integrity at closure, even if adjustments may still occur later in the operation.” In short, “procedural integrity” trumps passenger convenience.
And I can appreciate that—to a point. Plenty of airline policies, like cutoffs for checking bags and arriving at the gate, are precisely about procedural integrity—procedures that make flights operate safely and on time. But airlines also compete for business on quality of service, and I maintain that in comparison with other airlines, LATAM has room for improvement here.
So how can a repeat of this situation be avoided? I know now that I probably need more than LATAM’s suggested 95 minutes for an international-to-domestic connection at Lima, and their spokesperson agreed. “Your experience highlights an important consideration. While your connection time was within the legal minimum, actual processing times at immigration and customs can vary significantly depending on the arrival banks. For passengers traveling with checked baggage and connecting from international to domestic flights at [Lima], we would recommend allowing additional buffer time where possible, particularly during peak morning arrival periods.”
I have a further suggestion there, too. Airline reservations systems are pretty sophisticated, and they can program Minimum Connection Times (MCTs) pretty specifically. Say you recommend 95 minutes for an International-to-Domestic (I-D) connection at Lima, but you know that it’s really more like 180 minutes during certain peak periods. You can actually program your reservation systems to account for that, based on the arrival and departure times of the flights.
In the bigger picture, my arriving three hours later in Cusco is a minor frustration, and I appreciate LATAM’s quick, thorough responses and openness to feedback.
Talent tops list of challenges for investors
Continual investment in training and career pathways now essential for operators to meet evolving needs and expectations.
https://www.hotelinvestmenttoday.com/Thought-Leadership/Contributed-Perspectives/Talent-tops-list-of-challenges-for-investors?
By Yves Preissler
INTERNATIONAL REPORT — For investors in hotel, fitness, and wellness assets, the greatest challenge today is talent, not capital. Simply allocating capital is no longer enough to ensure performance. Investors should prioritize due diligence on operator capabilities, seeking a proven track record of managing complex, multi-layered assets. Ongoing investment in training and career pathways is essential for operators to meet evolving market expectations and protect asset value.
In newly opened or repositioned luxury hotels, the intent is usually clear and loud. Architecture is more ambitious, wellness spaces are larger, fitness areas are more design-focused, and social environments are positioned as key centers for guests and local members.
On paper, the industry is at its peak. However, many of these assets are already underperforming, and the situation is worsening.
Not because the concepts are wrong. Instead, the shortage of qualified personnel has become a critical barrier to effective operations, marking a transition point in understanding workforce dynamics.
A shrinking workforce
The hospitality industry has not fully recovered from the structural change in its workforce.
Although employment numbers have improved over the past few years, the workforce has shifted. The World Travel & Tourism Council reports tens of millions of lost roles globally, with many experienced operators not returning. In Europe and the United States, hospitality vacancy rates remain high, particularly in operational and supervisory positions.
This is more than a labor shortage; it is a capability shortage.
Experienced operators are absent, and their replacements lack the efficiency and skills of their predecessors. This absence of qualified personnel is a critical barrier to effective operations and asset performance.
Replacing experienced operators has not restored efficient management, leading to a decline in the rate and quality of service.
Simultaneously, the product has become more complex. This shift is significant because the product now extends far past traditional hospitality. Hotels are no longer just accommodation with food and beverage attached.
They are now expected to deliver:
- Wellness ecosystems.
- Fitness environments that rival standalone clubs.
- Social wellness spaces combining work, recovery, and community.
- Hybrid settings in which guests and local members coexist.
Each of these layers requires a separate operational approach.
A gym is no longer a support function. A spa is no longer a passive service. A lobby is no longer only a transition space.
Each element must be designed to deliver measurable outcomes.
Social wellness
According to a recent ScienceDirect article, social wellness is often overlooked, adding further complexity to hospitality operations.
Guest and member behavior is shifting across markets. They now seek integrated environments where they can train, recover, work, meet, and spend extended periods.
According to McKinsey & Company, hotels are increasingly seen as “third places” where people gather outside home and work. However, while guest demand rises, hotel staffing levels have not returned to previous levels, creating operational challenges.
The industry talks about social wellness fluently. Operationally, the industry seldom fulfills this promise.
Social wellness is not simply a design feature. It is a behavioral system that requires deliberate management.
It requires:
- Controlled flow between spaces.
- Clear separation between focus, performance, and social interaction.
- Programming that activates the environment throughout the day.
Without these elements, spaces tend to become too social, losing performance credibility, or too functional, failing to create community.
Most assets fall somewhere between these extremes.
The expectation gap
Meanwhile, customer expectations have evolved more rapidly than operator capabilities.
According to the World Travel & Tourism Council, today’s guests and members are more informed, discerning, and demanding. Online platforms now offer them curated wellness concepts, seamless experiences, high-performance environments, and personalized journeys, while their offline experiences often lack cohesion and consistency, including inconsistent service and underutilized environments.
The gap between industry promises and actual delivery is widening rapidly, and the consequences are increasing.
The industry seldom executes consistently at the level it promotes, despite strong intention.
Education has not kept pace
Part of the issue is structural. The industry now develops multi-layered, hybrid environments, but education and training have not kept pace with this complexity.
There is no clear pipeline producing operators who can:
- Understand fitness, wellness, and hospitality simultaneously.
- Manage both service and performance environments.
- Design and execute programming among different user groups.
Instead, the industry continues to rely on traditional hospitality training or fitness-specific pathways, expecting individuals to bridge the gap on their own.
Most don’t.
According to PwC US, while operational challenges persist, supply growth in hospitality is expected to normalize. This will increase demand for professionals who can bridge workforce shortages and operational complexity—and thus are highly valuable in protecting investment performance. For investors, it is crucial to recognize that underutilized assets may signal operational gaps rather than a lack of market demand, which can affect asset evaluation and future returns.
As investors, we go beyond surface-level metrics and rigorously assess each asset's operational integrity. Key steps include: reviewing staffing models, evaluating training programs, and scrutinizing the operator's track record in complex environments. Following the acquisition, ensure strong oversight of management practices, establish contingency plans for talent shortages, and dedicate resources to operational excellence. Making operational capability a core filter will better position investors to identify assets with sustainable value.
There is ample demand for these offerings. The global wellness economy exceeds $6 trillion, with ongoing growth driven by consumers valuing health, longevity, and lifestyle. However, demand alone does not guarantee utilization.
Similar patterns appear across assets: wellness areas are built at significant cost but see limited use, fitness spaces look impressive but lack consistent engagement, and social areas often lack a clear purpose, resulting in low dwell time. However, some operators have reversed these trends through intentional strategy and operational discipline. For example, The Movement Hotel in Amsterdam achieves high usage of fitness and wellness spaces through robust community programming and targeted member engagement. Brands like Equinox Hotels maintain occupancy and engagement well above industry averages by investing in staff training and specialized programming. These examples demonstrate that focused operational leadership, intentional design, and ongoing investment in talent can overcome underutilization and deliver measurable results.
These reflect execution gaps, not market failures, and the urgent ones jeopardize outcomes.
The cost of adding complexity
Each additional layer, such as wellness, recovery, social space, or hybrid work, increases operational demands. More staff. More training. More coordination. More oversight.
When labor is already limited, added complexity quickly becomes a significant liability.
Efforts to differentiate often result in diluted performance. Operating hours are reduced. Experiences are simplified. Standards are adjusted to match staffing levels rather than the intended positioning. As a result, asset performance quietly declines.
A planning issue
One of the most consistent structural mistakes is timing.
A common structural mistake is timing. Operators are often engaged after design decisions are finalized, flows are set, and spatial logic is fixed. At that stage, only limited adjustments are possible.
According to a report from HOTREC, European hospitality venues such as hotels, restaurants, and cafés are struggling with workforce shortages and skills gaps, making it challenging to operate even in attractive spaces that lack features such as effective acoustic control. Fitness areas lack clear circulation. Wellness zones disconnected from the wider journey.
These are not minor details but structural issues with serious long-term implications and they cannot be corrected solely through training.
The emerging divide
What is emerging is a clear divide between assets.
On one side are concept-led developments that emphasize design and narrative yet lack operational depth.
Others are well-managed, programmed, and utilized. These consistently outperform over time, and such assets succeed not only because of their effective functionality, but also because they are designed for smooth operation.
Rethinking the investment
For investors, this changes the evaluation entirely.
It is no longer sufficient to ask: Is the concept strong? Is the design competitive? Is the brand aligned?
More relevant questions include: Who will operate this? Can they deliver consistently across all layers? Is the concept aligned with the available talent pool?
Most importantly, investors must ask: Should this level of complexity be built at all, given available operational talent?
To address this, investors should use a decision toolkit to evaluate if added complexity is justified. Key recommendations: assess alignment with guest and member needs, evaluate whether each layer delivers clear value, and determine whether operational capacity matches the planned complexity. These steps ensure that complex investments are supported by the talent required for success.
Considerations include:
- Alignment with core guest and member needs: Does each layer deliver clear value to the target audience?
- Talent and operational capability assessment: Do current or prospective operators have demonstrated success running comparably complex assets?
- Revenue potential versus incremental cost: Are the additional operational, staffing, and training requirements offset by expected increases in utilization and financial returns?
- Flexibility of design: Can spaces be efficiently adapted to changing patterns of use without costly reconfiguration?
- Scalability and replicability: Is the model sustainable across multiple assets, or does it rely on unique circumstances?
Applying these criteria early in the planning process enables investors to determine whether complexity supports long-term asset value or introduces avoidable risk.
The next cycle
Hospitality, fitness, and wellness are combining into a single operating system.
The ambition is clear. The demand is real. However, the system is only as strong as its operators, and the system is only as strong as the people who operate it.
Right now, this is the primary and urgent constraint. Not ideas, not investment, and not demand.
In the next cycle, value will not come from those who simply build the most assets. Instead, value will be created by those who operate effectively and address these urgent gaps.
For investors, three priorities are essential:
- Select experienced operators with proven capability across hospitality, wellness, and fitness.
- Support the ongoing development of a strong talent pipeline.
- Regularly conduct operational audits to ensure alignment between concept and delivery. Focusing on these actions will help assets reach their full potential and remain competitive. That is the true competitive advantage of the next cycle.
Contributed by Yves Preissler, Yves Preissler Business Consulting, Kuwait
Latest news: Hyatt delays Jamaica openings; MCR acquires 4 in London; Hilton adds in Bahamas
Breaking news about deals, development, data and more.
https://www.hotelinvestmenttoday.com/Development/Brands/Hyatt-delays-Jamaica-openings-MCR-acquires-4-in-London-Curator-adds-in-Cincy?
Hyatt is pushing back Jamaica openings. Hyatt's Inclusive Collection has pushed back the reopening of nearly all its Montego Bay-area properties in Jamaica to the first quarter of 2027, according to a Travel Weekly story. A spokesperson confirmed that the Breathless Montego Bay, Dreams Rose Hall, Hyatt Zilara Rose Hall, Hyatt Ziva Rose Hall, Secrets St. James Montego Bay, and Secrets Wild Orchid Montego Bay will reopen early next year. The resorts have been closed since Hurricane Melissa struck Jamaica last October. Another Inclusive Collection property, the Jewel Grande Montego Bay, also announced its targeting a Q1 2027 reopening, according to a notice on its website. An eighth resort in the portfolio, Zoetry Montego Bay, Jamaica, is not currently bookable via Hyatt's booking channels, but a reopening date hasn't been announced.
MCR acquires 4 in London. Manchester, England-based MCR Property Group has deployed £150 million into a prime central London hospitality portfolio, anchored by a £123 million acquisition of four assets across Kensington and Chelsea, including Ashburn Hotel, Ashburn Court, Chesham Court, and Claverley Court. The portfolio offers a blend of boutique hotel rooms and serviced apartments within one of London’s most supply-constrained and internationally resilient submarkets and marks MCR’s entry into operational real estate. The company will renovate the portfolio, and the four assets will be consolidated under a new independent lifestyle collection brand.
Hilton adds in the Bahamas. Hilton has signed a franchise agreement with B.P.G. LTD for the new-build Paradise Breeze Nassau, which will introduce the Curio Collection by Hilton brand to the Bahamas. The 11-story, 125-key hotel and residences are scheduled to open in 2028. Throughout CALA, Hilton currently has a portfolio of more than 300 hotels with more than 150 hotels in its pipeline.
Curator adds in Cincinnati. The Fidelity Hotel in Cincinnati, Ohio, is joining the Curator Hotel & Resort Collection, a collection of independent boutique and lifestyle hotels and resorts, ahead of opening this summer. The new affiliation highlights a strong partnership between its operator, Austin-based New Waterloo, and Curator. The hotel is set within the historic Gwynne Building.
Hyatt adds in Scottsdale. The 194-key Hotel Solaya in Scottsdale, Arizona, is joining the JdV by Hyatt brand portfolio, following extensive renovations. Dallas-based Dreamscape Hospitality is managing the property.
Invel secured €65M. Milan, Italy-based Invel Real Estate has secured a €65 million financing facility with UniCredit to support the growth of Fondo Yellow, the alternative investment fund focused on hybrid hospitality. The facility will fund the acquisition and development of more than 2,000 beds, to be operated by YellowSquare, across major Italian cities, with a focus on urban regeneration and sustainable buildings. The financing is expected to qualify as a green loan, underlining the platform’s strong ESG ambitions. The financing follows the strategic joint venture announced in January 2025 between Invel and YellowSquare.
Honolulu hotel rebrands. The Pagoda Hotel in Honolulu has rebranded after extensive renovations. The 12-story, 199-key hotel opened in 1964 and is now owned by Honolulu-based Rycroft Holdings and is managed by Highgate. The hotel is debuting a property-wide renovation of rooms and major improvements to the exterior koi pond area, gardens, and walkways.
G6 is hosting the largest franchise conference. Dallas-based G6 Hospitality, the parent company of Motel 6 and Studio 6, said it will host its largest-ever annual franchise conference in Cancún, Mexico, bringing together over 1,200 franchise owners and partners from across North America later this month. The event marks the first large-scale conference hosted by the company since its integration into India-based Prism.
Dalata expands in London. Ireland-based Dalata Hotel Group Ltd is leasing a new four-star Maldron hotel on Hammersmith Road in Kensington, adjacent to the recently redeveloped £1.3 billion Olympia London exhibition center. The 370-key Maldron Kensington will be Dalata’s seventh hotel in London and is scheduled to open in 2029.
Ascott adds in Manchester. The Ascott Ltd., in partnership with Thailand-based S Hotels & Resorts PCL, is opening the 280-key lyf Piccadilly Manchester, marking the arrival of its experience-led social living brand in the city. The hotel is currently undergoing comprehensive renovations and is scheduled to open this fall.
Lemon Tree growth. New Delhi, India-based Lemon Tree Hotels said it had a record year of expansion in fiscal 2026, signing 56 new properties and opening 20 hotels through March 2026. In January, the company said it would split into two parts: Lemon Tree Hotels will follow an asset-light model, while a separate platform, Fleur Hotels, will own and build hotel properties. Lemon Tree has 131 operational hotels with over 11,000 rooms, along with a pipeline of 138 properties across its brands, including Lemon Tree, Aurika, Red Fox, and Keys.
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