Juniper Hotels Limited has successfully completed the acquisition of a 220-room upper-upscale hotel asset in Bengaluru. Situated on 6.5 acres of freehold land with a built-up area of 41,200 square metres, the property is strategically located near Bengaluru International Airport. The hotel, which is nearing completion, is set to offer world-class facilities, including 29,000 square feet of MICE (meetings, incentives, conferences, and exhibitions) space, speciality restaurants, a fitness centre, a spa, and more.
Juniper Hotels also plans to explore potential opportunities for future expansion. This acquisition marks a significant step for Juniper Hotels in expanding its footprint within the rapidly growing hospitality market in Bengaluru. Bengaluru is one of the fastest-growing hospitality markets in India, having recorded an average room rate (ARR) growth of approximately 20% year-over-year in FY24. With ongoing infrastructure developments planned around the airport, the city and its surrounding micromarket present immense growth potential, driven by the expansion of IT and corporate hubs.
The hotel asset was acquired for ₹325 crore in a cash buyout transaction, which was financed by ₹280 crore of long-term debt, with the remaining amount funded from Juniper Hotels’ existing cash reserves.
Arun Kumar Saraf, Managing Director and Chairman of Juniper Hotels Limited,
commented, “This is the first step in the Juniper 2.0 Journey. With this value-accretive acquisition, Juniper has established a presence in Bengaluru, an exciting hospitality market in India. We expect this asset to commence operations and start contributing to the portfolio by next year.”
