Juniper eyes more luxury hotels
₹1,800 crore (through the IPO) to grow rapidly. Of this, ₹1,500 crore will be a capital raise to deleverage and future growth. We will use the remaining ₹300 crore for general corporate purposes and will deploy that later.
The hospitality opportunity in India is staring us right in our faces," said Saraf. He referred to the company selling off a mid-market hotel opportunity it had earlier begun to develop in Ahmedabad. Following this, it invested in a larger scale development in the same city.
Juniper’s business model extends into developing commercial areas within its hotels, venturing into serviced apartments and even office spaces when feasible. This strategy leverages land holdings and maximises potential revenue streams. The company has about 1,950-keys across its hotels.
Saraf will transfer about 1,000-keys from his other businesses into this portfolio by 2027. The company, co-owned by Saraf Hotels and Hyatt affiliate Two Seas Holdings, plans to bring in fresh capital via the IPO without altering ownership structures. This marks a continuation of a long-standing partnership dating back to 1998, when the two entities collaborated on the Grand Hyatt Mumbai hotel project.
Juniper is directly linked to the global hospitality company Hyatt Hotels which had direct investments from its founding family in the US—the Pritzkers. The same family has also invested in Juniper. When Hyatt Hotels Corp.
became a listed entity in the US in 2009, Juniper also moved into the Hyatt Hotels Corp. as a part of the business. Since then, Juniper moved on from owning one hotel in Mumbai to having six other hotels, either directly or through its subsidiary.
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