Date:24/08/2006 URL: http://www.thehindu.com/2006/08/24/stories/2006082402401807.htm

Business - Briefly

Kotak Mahindra invests in Lemon Tree, Red Fox

CHENNAI: Lemon Tree Hotels, promoted by Patu Keswani, on Wednesday announced that Kotak Mahindra Realty Fund has invested Rs. 32 crore in the company. In a related development, Kotak Mahindra Realty Fund is investing about Rs. 2 crore in Red Fox Hotels, a new company also promoted by Patu Keswani, which proposes to set-up limited service, economy hotels at a price range of Rs. 800-2,000 per night, says a release.