Patu Keswani's Unconventional Approach To Hoteliering

After revolutionising the mid-scale segment, he enters the upscale category with his new brand, Orica. Along the way, Keswani has pushed the boundaries as a hotelier. And to think that he embarked on his journey as an entrepreneur with the intention of setting up just one hotel, as his retirement plan

- Gurmeet Sachdev

Lemon Tree Hotels is considered a pioneer in the midscale hospitality market in India. Patanjali Keswani, popularly known as Patu Keswani, was looking to set up one hotel to fund his retirement plan. He quit as senior vice president and chief operating officer of the Taj Group of Hotels to create this dream for his sunset years. Seventeen years later, Lemon Tree Hotels is one of the biggest players in the mid-scale segment and is soon entering the upscale market with Orica debuting in Udaipur this year. The Mumbai property is scheduled to launch in 2021, making it the biggest upscale hotel in India. Keswani talks about his entrepreneurial journey, the turning points, how the industry can approach the question of skilled manpower, and why hospitality majors should be focusing more on debt and acquiring land at better terms, rather than hankering after industry status.

How has the IPO helped Lemon Tree grow?

You come of age when you launch an IPO. It exposes you to a lot of scrutinies. You are expected to have a lot of clarity. The entire point of an IPO is for people to know that the company has great corporate governors, the results have been declared, there is no forging, and you have a great set of auditors and a board that is involved. An IPO imposes additional disclosure requirements and therefore, the company is easy to analyze.