The acquisition of the 287-key Novotel Imagicaa in Khopoli will strengthen Juniper Hotels’ portfolio with an operational, revenue-generating asset strategically located on the Mumbai-Pune corridor.
Juniper Hotels Ltd has signed a binding memorandum of understanding (MoU) to acquire Novotel Imagicaa from Imagicaaworld Entertainment Ltd for an aggregate cash consideration of ₹248 crore. The deal values the 287-room property at approximately ₹86 lakh per key and marks a significant addition to the hospitality company’s growing portfolio.
Located adjacent to the Imagicaa Theme Park and Water Park in Khopoli, Maharashtra, the hotel spans around 11 acres and offers extensive accommodation, dining, banquet, and recreational facilities. Its location on the Mumbai-Pune corridor positions it to benefit from leisure travel as well as meetings, incentives, conferences and exhibitions (MICE) demand.
Juniper Hotels’ Chairman and Managing Director, Arun Kumar Saraf, described the property as an established hospitality asset with strong scale and multiple demand drivers. He said the acquisition aligns with the company’s strategy of owning large, revenue-diversified hospitality assets while maintaining financial discipline.
The transaction is expected to immediately add a cash-generating asset to Juniper Hotels’ portfolio, eliminating the lead time associated with greenfield developments. The company also sees opportunities to enhance banquet capacity and reposition the property within the upper-upscale hospitality segment to support long-term growth.
With the addition of Novotel Imagicaa, Juniper Hotels will further strengthen its presence in India’s hospitality sector. The company currently owns and operates seven luxury and upper-upscale hotels across key Indian markets, including properties in Mumbai, Delhi, Ahmedabad, Lucknow, Raipur and Hampi.
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