Lemon Tree Hotels president Vikramjit Singh resigns | Mint
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Business News/ Companies / People/  Lemon Tree Hotels president Vikramjit Singh resigns
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Lemon Tree Hotels president Vikramjit Singh resigns

Singh has been with the company since 2014. This is his second stint with Lemon Tree.

 Vikramjit Singh has resigned from the position of the president of Lemon Tree HotelsPremium
Vikramjit Singh has resigned from the position of the president of Lemon Tree Hotels

New Delhi: Vikramjit Singh has resigned from the position of the president of Lemon Tree Hotels to pursue an entrepreneurial role. His last date of working will be 31 January, 2024.

Singh has been with the company since 2014. This is his second stint with Lemon Tree. Cumulatively, he’s spent over 18 years with the company. He first joined them in 2005 as assistant manager for the sales division.

Patanjali Govind Keswani, chairman and managing director of the company said, “We wish Vikram all the very best in his new venture. Lemon Tree Hotels continues to have a stable senior talent pipeline to take up his responsibilities.“

Singh, the company said in a statement, has been an integral part and has contributed immensely to the growth of Lemon Tree Hotels and led several key initiatives in various positions he held in the organisation.

The hotel chain reported a 15.5% increase in its revenue and a 35% surge in profit for the second quarter of FY24. This stemmed from the hospitality industry’s recovery despite pandemic challenges. Quarter-on-quarter, revenue grew marginally by 2.22%, while profit dipped 3.46%, possibly due to seasonality and market factors. Mint reported that selling, general, and administrative expenses rose by 5.71% quarter-on-quarter and 20.71% year-on-year, indicating operational investments and expansion plans to capture growing hospitality demand.

The company has 9,400 rooms in 96 hotels in 61 locations. It has a pipeline of an additional 4000 rooms, in 57 more hotels. The group has seven brands including Aurika Hotels & Resorts, Lemon Tree Premier, Lemon Tree Hotels, Red Fox Hotels by Lemon Tree Hotels, Keys Prima by Lemon Tree Hotels, Keys Select by Lemon Tree Hotels and Keys Lite by Lemon Tree Hotels.

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ABOUT THE AUTHOR
Varuni Khosla
Varuni Khosla is a journalist with close to 14 years of experience in writing business news stories for mainstream newspaper companies like Mint and The Economic Times. She reports and writes on luxury and lifestyle brands, hospitality and tourism news, the business of sports, the business of advertising and marketing and alcohol brands.
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Published: 29 Nov 2023, 04:22 PM IST
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