MINIMALIST HOTELS, A hotel and dorm management firm operated by Swashbuckler Hospitality Pvt. Ltd, plans to add 20 properties across India over the next two years. The lifestyle hotel brand, led by CEO Gautam Munjal, aims to raise $2.4 million to support expansion in Rajasthan, Uttar Pradesh, Maharashtra, Goa and the National Capital Region.
The company, founded in 2017, operates boutique properties under management contracts or operational leases.
“At Minimalist Hotels, our vision is to redefine the lifestyle hotel experience by blending minimalism with design, functionality, and local culture informed by global sensibilities,” Munjal said. “With tourism steadily growing, we see an opportunity to expand and offer thoughtfully curated hospitality to travelers seeking comfort, authenticity, and connection.”
Minimalist Hotels currently operates across 200,000 square feet, the company said in a statement. The planned expansion will add 700,000 square feet, bringing the total portfolio to approximately 1 million square feet.
The expansion comes as the Indian hotel market is projected to grow from $15.67 billion in 2024 to $22.41 billion by 2030, at a CAGR of 9.32 percent, the company said, citing a Research and Markets report. Boutique and mid-scale lifestyle hotels in tier 1 and tier 2 cities are expected to drive growth, supported by rising domestic tourism, higher disposable incomes, and growing demand for bleisure travel.
The growth will be supported by investments in operational systems and a centralized corporate framework to manage the larger footprint, the statement said. Each new hotel will follow Minimalist’s Japandi design approach, combining Japanese and Scandinavian elements.
The company has hosted more than 150,000 guests over seven years, it claimed. Half of its staff are locally hired, supporting regional employment and locally informed operations. The brand also offers community activities such as DJ nights, coffee raves, fitness run clubs and co-working hubs to align with changing traveler preferences.
It competes with Bloom Hotels, FabHotels, and Nuo by Justa in hotels, and with Zostel, GoStops, and The Hosteller in hostels, according to Mint.
In 2023–24, the company reported revenue of Rs 7.4 crore (about $8.9 million), up 7 percent year-on-year. Net profit was Rs 2.2 crore (about $2.6 million), down from Rs 4.2 crore (about $5 million) in 2022–23. Munjal told Mint in January the company was targeting Rs 12 crore (about $14.4 million) in operational revenue for 2024–25.
He also said the company aims to grow revenue fivefold in two years and expand its portfolio to about 120 rooms, with 90 percent as rooms and 10 percent as dormitories. The brand attracts millennials and Gen-Z travelers and opened its second hotel in Varanasi in December.
Meanwhile, more than 50 percent of hotel bookings in major Indian cities were reportedly canceled following “Operation Sindoor,” the country’s response to the April 22 terrorist attack in Pahalgam.
