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Niraamaya Retreats to expand footprints

Friday, 22 Feb 2019
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Niraamaya Retreats, the operator of boutique hospitality and wellness properties backed by private equity firm Jupiter Capital, has drawn expansion plans for the next five years.

The company aims to expand to 15 resorts from its existing six through an owned-and-franchised route. The company recently opened a property at Kumarakom in Kerala and will complete an under-construction villa property in Goa by 2021.

Niraamaya will perform groundbreaking ceremony on two hotels -- one of them in Goa -- over the next two to five years and will manage another seven through franchises. It will deploy about Rs 100 crore in development and is looking at raising Rs 150 crore.

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