Juniper Hotels to invest Rs 850 crore in Dwarka hotel

Juniper Hotels Ltd will invest Rs 850 crore to develop a 550-room Grand Hyatt hotel in Dwarka, Delhi, the company said on Friday. The project, to be built on land leased from the Delhi Development Authority, is expected to be completed by 2030. The Economic Times reports that the company expects its portfolio to reach 12 hotels with nearly 1,000 keys after this addition.

The Hindu reports a larger expansion plan of Rs 2,000 crore, aiming to double room inventory to over 4,000 keys by FY31. CEO Varun Saraf outlined a five-hotel pipeline including properties in Bengaluru and Assam. The company also targets acquisitions of about 600 rooms, with two deals at an advanced stage. Juniper Hotels expects EBITDA to double to Rs 1,000 crore over four years.

The Dwarka project is the largest in the pipeline, occupying 7 lakh sq ft. The company says it will fund the capital expenditure through internal accruals, as no land cost was incurred on its greenfield projects.