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Juniper Hotels plots its next big luxury expansion

By Sohail Khan 17 August 2026, 11:35 pm

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Business News›Industry›Services›Hotels / Restaurants›Hyatt-owner Juniper Hotels to double portfolio to 4,000 rooms, earmarks ₹1,930 crore

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Hyatt-owner Juniper Hotels to double portfolio to 4,000 rooms, earmarks ₹1,930 crore

Synopsis

Juniper Hotels plans to double its luxury hotel portfolio to 4,000 keys. This expansion will occur over the next four years with significant investment. The company is developing five new greenfield projects across India. These developments include hotels and a commercial asset in key markets. Juniper Hotels will continue partnering with global operators for property management.

Varun Saraf, CEO, Juniper Hotels and Arun Saraf, chairman and MD, Juniper Hotels

New Delhi: Juniper Hotels, India’s largest owner of Hyatt-affiliated hotels, is planning to double its portfolio to 4,000 keys from the current 1,900 luxury keys over the next four years, CEO Varun Saraf told ET in an interview.

“We’re operating about 1,900 keys right now. The Bangalore Westin opens in October — that’s 235 keys, taking us to about 2,100 keys,” he said. “We’re doubling that to approximately 4,000 keys over the next four years,” he added.

The company has an investment plan of Rs 1,930 crore earmarked across five new greenfield projects — four hotels and one commercial asset, he said.

Saraf said the Rs 1,930 crore earmarked across all five developments represents pure construction costs. The land was either already owned by the company in Guwahati and Mumbai or acquired from the government at nominal rates.

“Delhi had no upfront land cost. The Bangalore Phase two project was part of existing acquisitions or development partnerships. So the entire Rs 1,930 crore goes directly into construction and development,” he added.

Arun Saraf, chairman and managing director of Juniper Hotels, said the company aims to operate in the top three or four markets in the country in the luxury segment and focus on building large assets that generate strong EBITDA and double in asset value over five years.

“We stand for strong cash flows, backed by rising asset values. We’re not going to be present pan-India. We’re very focused and specialised,” he added.

Arun Saraf said he is “genuinely excited” about the Delhi project.

“It’s located right next to Yashobhoomi and on the opposite side of Aerocity. The location, and its proximity to the airport and to West Delhi and Dwarka itself, puts it in a market that’s currently under-serviced,” he added.

He said the company has no plans to develop its own brand.

“We’ve seen many companies struggle with that — there’s a cost not just in building the brand, but the whole ecosystem of managing properties. We’d rather focus on developing and owning hotels, and hiring the best global operators — Marriott, Hyatt, and other global majors — to manage our properties,” he said.

Also Read: Hyatt-owner Juniper Hotels' shares can rally up Rs 450, says JM Financial as it initiates a ‘Buy’ rating

“Their fees are very affordable for the services they bring; it’s cheaper to have them operate our properties than to try to do it ourselves,” he added.

Arun Saraf said the company is open to more partnerships with brands such as Marriott.

“We try to fit the brand to the property and the market, and we’re open to working with anyone. Hyatt has been very supportive and available to us at short notice, and we’ll continue working with Hyatt and Marriott, and other global operators as and when the need arises,” he added.

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