Warburg Pincus to Acquire APG's Fleur Hotels Stake
Skift Take
Warburg Pincus will buy APG's 41% stake in Fleur Hotels and invest $106M for growth as Lemon Tree restructures into two platforms. Plus, more hotel deal and development news.
Sri Lanka is expecting to attract three million visitors in 2026. The country is seeking to strengthen its economic recovery following Cyclone Ditwah and build on record visitor numbers in 2025. Last year, Sri Lanka recorded 2.36 million visitors, generating approximately US$3.2 billion in tourism revenue. Sri Lanka is targeting approximately US$500 million in tourism-related investments in 2026, following US$329 million generated from 126 tourism projects in the previous year, according to the Sri Lanka Tourism Development Authority.
After denying that private equity firm Warburg Pincus was buying into the company, Lemon Tree Hotels announced that Warburg Pincus will acquire Dutch asset manager APG’s entire 41.09% stake in Fleur Hotels, the asset-owning arm of Lemon Tree. As part of the deal, Warburg will also invest up to INR 9.6 billion (US$106 million) of fresh equity into Fleur over time to fund its growth. The board of directors of Lemon Tree and Fleur Ho
