Niraamaya Retreats to invest Rs. 220 crore in developing boutique hotels.

Private equity firm Jupiter Capital's hospitality venture, Niraamaya Retreats, will invest around Rs. 220 crore over the next two years in developing boutique hotels, a top company executive said. The hotel chain, which is present in the niche space of wellness resorts, has identified Goa, Kumarakom (Kerala) and Chikmanglur (Karnataka).

'We are bullish on the hospitality business and are open to both organic and inorganic growth to expand our presence,' Sidhartha Mehra, chief financial officer at Jupiter Capital said, adding that revenue from the hospitality venture has been growing at around 25% year-on-year.

Promoted by Rajeev Chandrasekhar, Bengaluru-based Jupiter Capital has been incubating and growing businesses across media, entertainment, hospitality, software, rail and aviation infrastructure through the holding firm Jupiter Capital.

According to hotel industry experts, complete control over a hotel brand helps a PE firm control the revenue and management teams to achieve its targets.


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