Juniper Hotels lines up ₹2,000-cr expansion, aims to double room inventory to 4,000 keys by FY31

Juniper Hotels Ltd, a joint venture between Saraf Hotels and Hyatt Hotels Corporation, has outlined plans to invest ₹2,000 crore as it aims to double its room inventory to more than 4,000 keys by 2030-31 (FY31), according to its Chief Executive Officer Varun Saraf.

The company. It owns seven fully operational Hyatt-branded hotels, including Grand Hyatt Mumbai, Andaz Delhi and Hyatt Delhi Residences at Aerocity, is pursuing its “Juniper 2.0” expansion strategy through which it plans to add five new hotels by FY31, collectively contributing around 1,206 rooms, he noted in an interview.

One of these properties is scheduled to open in Bengaluru in October 2026, while the remaining projects are planned for Delhi, Bengaluru and Assam.

The company expects to fund the ₹2,000-crore capital expenditure through internal accruals. According to Saraf, all five greenfield projects are being developed on land where the company has incurred no land cost, allowing the planned investment to be directed primarily towards construction.

“The largest project in the pipeline is a 550-room Grand Hyatt in Dwarka, Delhi, located opposite Aerocity. The seven-lakh-square-foot development is expected to require an investment of around ₹850 crore,” he stated.

Acquisition-led growth

Along with new developments, Juniper Hotels aims to expand through acquisitions. The company is targeting assets with a combined inventory of around 600 rooms. It would take its total portfolio to more than 4,000 rooms.

Two potential acquisition targets “are currently under evaluation and are at an advanced stage of negotiations”, Saraf stated. The assets are expected to be located within driving distance of Mumbai and Delhi and would cater primarily to the leisure and corporate MICE segments.

“We need profitable assets that add value to us as well as our shareholders. And we want to do it in a prudent manner,” he said, adding that the business has sufficient headroom to raise debt for acquisitions.

EBITDA target of ₹1,000 crore

Juniper Hotels currently has debt of around ₹700 crore, equivalent to concerning 1.5 times its EBITDA. Based on this ratio, its current annual EBITDA is estimated at around ₹467 crore.

The company expects EBITDA to more than double to ₹1,000 crore over the next four years, backed by higher revenues, improved room rates and operating margins. “Juniper is very well positioned…The plan has already been put in place and we are going to grow,” he added

the business’s disciplined investment approach would remain central to its expansion plans as it works towards achieving its FY31 room inventory and EBITDA targets..

Asset creation

Saraf remarked Juniper Hotels does not intend to build a countrywide presence and would instead focus on markets where it can leverage its expertise in developing and creating value from hotel assets.

The company additionally does not see itself primarily as a hotel management company. Its strategy is centred on developing hospitality assets that can generate long-term value for shareholders and other stakeholders.

“Sometimes it will be slow, but this is for the long term. It is about creating those assets. It will provide value to all our shareholders and stakeholders in the long run,” Saraf said.