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 plans 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, which 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” growth strategy through which it plans to add five new hotels by FY31, collectively contributing around 1,206 rooms, he said 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. Varun Saraf | Photo Credit: Special Arrangement 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 said.Acquisition-led growthIn addition to new developments, Juniper Hotels plans to expand through acquisitions. The company is targeting assets with a combined inventory of around 600 rooms, which 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 said. 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 company has sufficient headroom to raise debt for acquisitions.EBITDA target of ₹1,000 croreJuniper Hotels currently has debt of around ₹700 crore, equivalent to about 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, supported 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 addedthe company’s disciplined investment approach would remain central to its expansion plans as it works towards achieving its FY31 room inventory and EBITDA targets..Asset creationSaraf said 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 also 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, which will give value to all our shareholders and stakeholders in the long run,” Saraf said. Published - August 17, 2026 06:55 pm IST