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By Author
Published on February 17, 2024
In a significant development for India's hospitality sector, Juniper Hotels, known for its affiliation with the prestigious Hyatt brand, has declared the opening of its initial public offering (IPO) valued at INR 1,800 crore. Scheduled to open for subscription on February 21 and closing on February 23, this IPO marks a pivotal moment for the company as it seeks to expand its footprint and consolidate its position in the luxury hotel market.
Structured entirely as a fresh equity issue with a face value of Rs 10 per share, the IPO lacks an offer for sale (OFS) component. The pricing band for the public offer is to be announced shortly, with a significant portion of the IPO being strategically reserved: 75 percent for qualified institutional buyers, 15 percent for non-institutional investors, and the remaining 10 percent for retail investors.
Juniper Hotels intends to allocate the net proceeds from the IPO—estimated at INR 1,500 crore—towards the repayment, prepayment, or redemption of certain outstanding borrowings and for general corporate purposes. This financial maneuver is expected to strengthen the company’s balance sheet and support its ongoing and future projects.
The company, a joint venture between Saraf Hotels and Two Seas Holdings (affiliated with Hyatt Hotels Corp.), currently boasts ownership of 20 percent of the total 1836 Hyatt-affiliated keys in India as of June 2023. Its portfolio encompasses seven hotels and serviced apartments spread across Mumbai, Delhi, Ahmedabad, Lucknow, Raipur, and Hampi, catering to a variety of market segments from luxury to upscale.
Highlighting its financial growth, Juniper Hotels reported a significant increase in revenue from operations, jumping 116 percent to INR 667 crore in fiscal 2023 from INR 309 crore the previous year. Moreover, the net loss for the company considerably narrowed to INR 1.5 crore in fiscal 2023 from INR 188.03 crore in fiscal 2022, indicating robust recovery and operational efficiency.
The IPO is being managed by leading financial institutions such as JM Financial, CLSA India, and ICICI Securities, with KFin Technologies appointed as the registrar of the offer. Furthermore, the equity shares of Juniper Hotels are proposed to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), offering investors a valuable opportunity to partake in the company's growth journey.
As Juniper Hotels prepares to embark on this new chapter, the IPO stands as a testament to the company's resilience and commitment to excellence in the highly competitive hospitality industry.
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By Manu Vardhan Kannan
Published on August 18, 2025
Apeejay Surrendra Park Hotels Limited (ASPHL) announced its financial results for Q1 FY26, recording a net profit of Rs 13 crore. Revenue from operations stood at Rs 154 crore, a 14% increase year-on-year, while operating EBITDA grew 16% YoY to Rs 45 crore. The company maintained an industry-leading occupancy of 92%, reaffirming its leadership in the hospitality sector.
ASPHL’s growth is fueled by expansion into Tier 2 and Tier 3 markets. The company recently signed an MoU to acquire and manage four leisure properties in Goa, Manali, Shimla, and Dharamshala, adding 138 rooms under its brand. These steps align with ASPHL’s strategy to broaden its presence in high-potential tourism destinations and double its key count to 5,750 over the next five years.
Flurys, ASPHL’s iconic bakery and confectionery brand, now operates 102 outlets nationwide, reflecting the company’s focus on expanding its market presence while integrating modern amenities with rich cultural heritage.
Commenting on the performance, Vijay Dewan, Managing Director, Apeejay Surrendra Park Hotels, said,
"We have delivered an extraordinary and best-ever Q1, setting a strong momentum for the year ahead. With topline growth of 14% and EBITDA growth of 16%, we recorded India’s highest occupancy of 92% and maintained leadership in RevPAR in the upper-upscale segment. ARR improved by 13% and RevPAR increased by 12%. With nearly 600 new rooms added, including a 41% rise in our asset-light model, and nationwide Flurys rollout, we are poised to scale faster, enhance margins, and deliver exceptional shareholder value."
ASPHL’s strong performance in Q1 FY26 underscores its strategic focus on market expansion, operational excellence, and premium guest experiences.
Published on August 10, 2025
Marriott International, Inc. has declared a quarterly cash dividend of 67 cents per share on its common stock, reaffirming its commitment to delivering shareholder value. The dividend will be paid on September 30, 2025, to shareholders who are on record as of August 21, 2025.
Alongside the dividend announcement, the hospitality giant also revealed an expansion of its share repurchase program. The board of directors has authorized the repurchase of an additional 25 million shares of its Class A common stock. This comes in addition to the approximately 7.4 million shares that were still available under previous authorizations as of July 30, 2025.
Marriott has already bought back 6.4 million shares this year, amounting to $1.7 billion. These moves reflect the company’s continued confidence in its financial stability and long-term performance, aiming to strengthen shareholder value through strategic capital allocation.
Published on August 4, 2025
In what was intended to be a smooth digital transformation, postal services across the Chennai Circle continue to remain disrupted even days after a scheduled upgrade to India Post's new IT 2.0 system. The software transition—part of a broader effort to modernize the nation’s postal network—was implemented on August 2nd and 4th across Chennai North and South divisions. However, officials have now confirmed that technical issues still persist, leaving customers and businesses grappling with delayed or inaccessible services.
Key services such as Speed Post, registered mail, parcel bookings, and money orders have either been significantly slowed or paused altogether in many branches. Despite expectations that systems would normalize post-upgrade, the rollout of the Advanced Postal Technology (APT) system has proven more complex than anticipated.
“We are still working on stabilizing the system. There have been unforeseen glitches post-upgrade, and our teams are actively resolving them,” said a senior postal official who requested anonymity.
The disruption has raised concerns across industries—including the hospitality sector—where timely document dispatch, license renewals, vendor payments, and customer correspondence are crucial to daily operations.
Experts and industry stakeholders are now calling on India Post to introduce alternative operational strategies or backup mechanisms during such large-scale transitions.
“In a digital age where seamless service is non-negotiable, a complete blackout due to a software update is avoidable. A fallback process, whether manual or cloud-based, should be in place to ensure continuity,” said a Chennai-based hospitality consultant.
The hospitality industry relies heavily on postal services for legal documentation, international communication, and procurement logistics. The ongoing delays have caused bottlenecks not just in operations but also in customer experience delivery.
As authorities continue to work toward a resolution, the broader question remains: Should India’s essential public infrastructure be this vulnerable to a single system upgrade? The answer may lie in future-proofing core services with hybrid digital models that include disaster recovery plans and parallel systems.
Hospitalitynews.in will continue to track updates as the situation evolves.
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