About Company

• Juniper Hotels is a luxury hotel development and ownership company and is jointly held by Saraf Hotels and its affiliate, Juniper Investments and Two Seas Holdings (an indirect subsidiary of HHC- Hyatt Hotels Corporation). Juniper Hotels is the largest owner, by number of Keys of “Hyatt” affiliated hotels in India as of September 30, 2023. The company has a portfolio of 7 hotels and serviced apartments and operates a total of 1,836 keys.

• Juniper Hotels is the only hotel development company in India with which Hyatt has a strategic investment. Juniper Hotels own 19.6% of Hyatt group affiliated hotel rooms and apartments in India as on September 30, 2023. 

• The company’s network is spread over 1.33 million sq. ft. in land area, across seven hotels and serviced apartments are located across six cities in India, comprising established metro cities, emerging business destinations and upcoming tourist destinations, providing guest and geographic diversification.

• The company’s hotels and serviced apartments are classified under three distinct segments: (a) luxury – the Grand Hyatt Mumbai Hotel and Residences and Andaz Delhi; (b) upper upscale – the Hyatt Delhi Residences, Hyatt Regency Ahmedabad, Hyatt Regency Lucknow, and Hyatt Raipur; and (c) upscale – Hyatt Place Hampi.

• The company’s promoters and Hyatt have had a longstanding relationship of over 40 years. Out of the 8 Hyatt brands present in India Juniper Hotels has entered into trademark license agreements in relation to 5 such global brands, namely, “Hyatt”, “Grand Hyatt”, “Hyatt Regency”, “Hyatt Place” and “Andaz”.

• Juniper Hotel’s ARR increased to ? 9,875.12 in Fiscal 2023 from ? 5,656.77 in Fiscal 2021 and the Average Occupancy increased to 75.74% in Fiscal 2023 from 34.23% in Fiscal 2021. In the six months ended September 30, 2023, and September 30, 2022, the company’s ARR was ?10,139.85 and ? 8,817.95, respectively.

• The company plans to develop (a) a commercial space of ~54,000 sq. ft (built-up) and (b) ~96,583 sq. ft. mixed-use space, on land which is adjacent to the Grand Hyatt Mumbai Hotel and Residences. Additionally, it owns 2 plots of land measuring 73,195 sq. ft. and 17,179 sq. ft. through its company CHPL (acquired in on September 20, 2023), which it plans to assess the opportunity for an appropriate real estate development.

Strengths

• Competitive Strength 

• Expertise in site selection and identifying opportunities to develop hotels;
• Unique partnership between asset owner and operator brand backed by strong parentage;
• Robust asset management capabilities with a focus on enhancing operating efficiency and profitability;
• Increasing returns by having multiple revenue streams and complementary offerings;
• Well positioned to benefit from industry trends;
• Experienced and qualified board and management team

• Business Strategies 

• Enhancement of facilities at existing assets;
• Development of new opportunities at the existing assets;
• Explore value accretive acquisition of assets and selective expansion;

• Continue to improve efficiencies including by enhancing utilization of space with a view to increase revenues.

Company Promoters

Company Financials

uniper Hotels Limited's revenue increased by 108.66% and profit after tax (PAT) rose by 99.2% between the financial year ending with March 31, 2023 and March 31, 2022.

Objects of the Issue

The net proceeds of the Issue, i.e., gross proceeds of the Issue less the Issue related expenses are proposed to be utilised in the following manner:

1. Repayment/ prepayment/ redemption, in full or in part, of certain outstanding borrowings availed by the Company and its recent acquisitions, namely CHPL and CHHPL; and

2. General corporate purposes.