Hyatt-backed Juniper Hotels is looking at doubling the number of keys to 4,000 by FY31. The company, which is the largest operator of Hyatt hotels in India, is also open to partnerships with other hotels.
The company’s current portfolio comprises eight properties with 2,133 keys across seven cities. Four other hotels are under development in Bengaluru, Delhi, Guwahati, and the Kaziranga National Park with the company investing around ₹1,900 crore.
Westin check-in
Earlier this month, Juniper also tied up with Marriott International to launch a 238-key hotel under the Westin brand near the Bengaluru airport. That hotel is scheduled to open in October. Juniper’s CEO Varun Saraf said the company had acquired an under-construction Marriott hotel in Bengaluru in October 2024 which is now being rebranded as Westin.
“We will look for the right opportunities for brownfield expansion,” he said. “We need to get the right valuation and rebranding opportunity. At the moment, we are in advanced discussions for a couple of assets that are near large metros.”
The Hyatt relationship
Hyatt Hotels (which owns a 38 per cent stake in Juniper Hotels) is an important partner for the company, said MD and Chairman Arun Kumar Saraf. “Juniper is free to seek its own growth and find an operator which fits the property. Juniper will decide what is in its best interest. We will partner with global majors like Hyatt, Marriott, Accor, and even Taj,” he added.
Asked if Hyatt’s slower growth in India had led to a change in Juniper’s strategy, Arun Kumar said the opportunity to tie up with Marriott came now. “Ever since the IPO, we were very clear that the Juniper board will be the final authority to decide which brand will come in which property.”
Hyatt will remain a shareholder in Juniper, he added. “I have no indication of Hyatt Hotels reducing its stake. We have a very strong and good working relationship. Signing of one Marriott property does not diminish our collaboration,” the senior Saraf said.
No impact of war
While Juniper will continue to focus on luxury and upper upscale category, it is also looking at expanding presence in leisure locations.
“We were easily able to absorb the impact of the West Asia war. Our revenue in Q1 FY27 was 11 per cent higher year-on-year. The average room rates were 5 per cent higher. Hotels in Bengaluru or Chennai faced more impact given the reliance on the international market,” Varun Saraf said.
He added that the demand for hotels in Mumbai and Delhi mostly comes from within India. “We have large banqueting space in our hotels in both cities. In fact, revenue per available room in Grand Hyatt Mumbai grew 18 per cent compared to the industry average of 7 per cent. Business remains strong. We are not seeing any fluctuation in our occupancy or revenue because of the West Asia crisis,” he added.