04 November 2024
Juniper Hotels Limited has completed the acquisition of a 220-room upper upscale hotel near Bengaluru International Airport, further strengthening its presence in the rapidly expanding hospitality market of Bengaluru. The property spans 6.5 acres, with a built-up area of 41,200 square metres. Currently in its final stages of development, the hotel is set to offer a range of premium amenities, including 29,000 square feet of MICE (Meetings, Incentives, Conferences, and Exhibitions) space, specialty dining options, a fitness centre, a spa, and more.
The acquisition, valued at Rs 325 crore, was structured through a cash buyout. Juniper Hotels utilised Rs 280 crore in long-term debt for the purchase, with the remaining funds sourced from the company's existing cash reserves.
Juniper Hotels Limited has completed the acquisition of a 220-room upper upscale hotel near Bengaluru International Airport, further strengthening its presence in the rapidly expanding hospitality market of Bengaluru. The property spans 6.5 acres, with a built-up area of 41,200 square metres. Currently in its final stages of development, the hotel is set to offer a range of premium amenities, including 29,000 square feet of MICE (Meetings, Incentives, Conferences, and Exhibitions) space, specialty dining options, a fitness centre, a spa, and more. The acquisition, valued at Rs 325 crore, was structured through a cash buyout. Juniper Hotels utilised Rs 280 crore in long-term debt for the purchase, with the remaining funds sourced from the company's existing cash reserves.
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