Juniper Hotels, a prominent name in luxury hospitality, has taken a strategic leap forward by acquiring a 100% stake in Jenipro Hotels Private Limited. This move aims to develop a world-class 5-star hotel and resort on leased land in the iconic Kaziranga region. The land, secured by Jenipro under a Public-Private Partnership (PPP) model with the Assam Tourism Development Corporation Limited, represents a significant step in boosting tourism infrastructure in the state.
The acquisition announcement triggered a 4% surge in Juniper Hotels’ stock price on the Bombay Stock Exchange (BSE), reaching an intraday high of Rs. 287 per share. As of 10:59 AM, the stock was trading at Rs. 284.7, up 3.17%, with a market capitalisation of Rs. 6,334.64 crore.
The development of the Kaziranga property aligns with Juniper Hotels’ vision of creating unique, high-quality hospitality experiences. This forthcoming resort aims to attract both domestic and international travelers, blending modern luxury with the natural beauty and cultural richness of Kaziranga, a UNESCO World Heritage Site.
“This acquisition underscores our commitment to expanding our portfolio in key tourism destinations across India. Developing a resort of international standards in Kaziranga not only enhances our presence but also contributes to sustainable tourism growth in Assam,” the company said in a statement.
Juniper Hotels, a partnership between the Saraf Group and Hyatt, boasts a legacy of over 40 years in hospitality. The Saraf Group has been instrumental in developing over eleven hotels across nine cities in India and Nepal, with iconic properties such as the Grand Hyatt Mumbai Hotel and Residences. Their expertise in development, combined with Hyatt’s global operational excellence, ensures that the new Kaziranga project will be a benchmark in the industry.
The Saraf Group’s journey began with the establishment of Yak and Yeti in Kathmandu, Nepal, in 1977. Over the years, the group has consistently raised the bar in hospitality, leveraging its deep market understanding and development acumen to deliver world-class assets.
Kaziranga’s potential as a tourism hub provides a unique opportunity for Juniper Hotels to tap into the growing demand for experiential luxury travel. The upcoming resort is expected to offer an unparalleled blend of nature, culture, and hospitality, reinforcing Assam’s position on the global tourism map.
While Juniper Hotels’ shares have faced challenges over the past year, losing 40% of their value compared to the Sensex’s rise of 4.5%, this acquisition signals a renewed focus on growth and strategic investments. With the Kaziranga project, Juniper Hotels is poised to strengthen its portfolio and drive long-term value for stakeholders.
This development is not just a step forward for Juniper Hotels but also a significant milestone for sustainable tourism and hospitality in India’s northeastern region.
Source: Business Standard
