Juniper Hotels to Acquire Novotel Imagicaa for ₹248 Crore
Juniper Hotels Limited has approved the acquisition of Novotel Imagicaa from Imagicaaworld Entertainment Limited for ₹248 crore. The hotel has 287 keys and is located in Khopoli, Maharashtra. The acquisition is expected to be completed by March 31, 2027, subject to approvals.
The acquisition represents a significant strategic move for Juniper Hotels, involving a substantial investment and expanding its operational footprint with a well-located, income-generating asset.
The acquisition of an established hotel is a positive development for Juniper Hotels, enhancing its portfolio and strategic presence in the Mumbai-Pune corridor.
Juniper Hotels Limited announced its Board of Directors has approved a proposal to acquire the operating hotel, Novotel Imagicaa, located in Khopoli, Maharashtra, from Imagicaaworld Entertainment Limited for an aggregate lump-sum purchase consideration of ₹248 crore. The acquisition is subject to tax deduction at source, stamp duty, transaction costs, and other adjustments, as well as the terms and conditions outlined in definitive documents such as a business transfer agreement or slump sale agreement.
A Memorandum of Understanding (MoU) will be entered into between Juniper Hotels Limited and Imagicaaworld Entertainment Limited for this acquisition. The hotel undertaking comprises approximately 11 acres of land with a built-up area of approximately 2,80,000 sq. ft., featuring 287 guest rooms, restaurants, banquet facilities, and recreational amenities.
The acquisition is strategically aligned with Juniper's hospitality business, adding an established, cash-generating 287-key hotel in the Mumbai–Pune corridor, catering to leisure, social, and MICE demand. The company anticipates rebranding the asset into the upper-upscale segment to drive long-term value creation. The transaction is expected to be completed on or before March 31, 2027, subject to the fulfillment of conditions precedent and receipt of necessary approvals.
Mr. Arun Kumar Saraf, Chairman & Managing Director of Juniper Hotels Limited, stated that the acquisition of Novotel Imagicaa aligns with the company's growth strategy of acquiring 'Right Assets' in the right markets that can generate diversified revenue streams. The company aims to pursue this growth with capital discipline and strong internal cash generation.
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Juniper Hotels Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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