Date:01/08/2006 URL: http://www.thehindu.com/2006/08/01/stories/2006080103061800.htm

Business - Briefly

Warburg Pincus invests in Lemon Tree Hotels

CHENNAI: The New Delhi-based Lemon Tree Hotels on Monday announced that Warburg Pincus, a leading global private equity firm, is investing Rs. 210 crore in the company. The investment will be used to further expand the Lemon Tree network and enhance the company's pan-India presence. Lemon Tree operates in the mid-price segment. In addition, Warburg will invest Rs. 70 crore in a new chain of limited service budget/economy hotel called Red Fox Hotels, says a release.