New brand will provide value for money proposition in the upscale segment, says Lemon Tree

Lemon Tree reported a muted fourth quarter but boosted profits due to deferred tax of Rs 31.4 crore. To discuss the numbers in details and the business outlook, CNBC-TV18 spoke with Lemon Tree CFO Kapil Sharma.

Talking about the company’s plans to enter the upscale hotel segment, he said the idea behind ORIKA brand is to give a value for money proposition in the upscale segment. “We are trying to cover another spectrum of mid-price hotel sector and not getting into the luxury segment,” he said.

The first hotel to launch under the new brand will be in Udaipur. We will share details about this particular brand closer to the launch date, he said.