Juniper Hotels Limited has informed the stock exchanges that its Board of Directors has approved a proposal for the company to participate in the Corporate Insolvency Resolution Process (CIRP) of Gstaad Hotels Private Limited, the operator of the JW Marriott Bengaluru property. The decision was taken at the board meeting held on Wednesday, November 26.
According to the regulatory filing, the proposed target asset under CIRP includes the five-star JW Marriott hotel located at 24/1, Vittal Mallya Road, Bengaluru. Gstaad Hotels reported an unaudited turnover of Rs 246.93 crore for FY25.
Juniper Hotels clarified that the proposed participation does not fall under related-party transactions and that neither its promoter group nor affiliated companies have any interest in the distressed entity. The move, the company said, aligns with its long-term strategy of expanding within the premium hospitality sector.
The acquisition process is subject to approvals from the Committee of Creditors (CoC) and the National Company Law Tribunal (NCLT). The timeline for completion will depend on CIRP progress and may occur in one or more tranches.
Gstaad Hotels, incorporated in 2003, operates solely in India and has reported steady revenue growth over the last three financial years:
- FY25: Rs 246.93 crore
- FY24: Rs 216.40 crore
- FY23: Rs 190.88 crore
The claims admitted by the CoC stand at approximately Rs 1,175 crore, though the final acquisition cost will only be determinable once the resolution plan is submitted and approved.
Juniper Hotels stated that further details will be shared with the exchanges if its resolution plan is selected.
