Juniper Hotels to Acquire Novotel Imagicaa for ₹248 Crore in Strategic Asset Deal
In a ₹248 crore asset deal, listed luxury hotel owner Juniper Hotels will acquire the 287-key Novotel Imagicaa from Imagicaaworld Entertainment. The ready-to-operate property in Khopoli adds immediate cash flow to Juniper's portfolio of 1,895 keys, with closure expected by March 2027.
Juniper Hotels Ltd has signed a binding MoU to acquire the 287-key Novotel Imagicaa in Khopoli for a lump-sum consideration of ₹248 Crore. The deal is valued at approximately ₹86 lakh per key.
Transaction Structure & Timeline
This is not a share acquisition. Juniper is buying the hotel undertaking as an asset, including land and infrastructure. No shares, voting rights, or control in Imagicaaworld Entertainment will be acquired.
- Seller: Imagicaaworld Entertainment Ltd (formerly Adlabs Entertainment)
- Current Status: MoU signed. Definitive documents including Deed of Conveyance and Business Transfer Agreement are yet to be executed.
- Expected Closure: On or before March 31, 2027
- Conditions: Subject to statutory, regulatory, shareholder and lender approvals.
- Related Party: The company confirmed this is not a related party transaction. The seller has no relationship with Juniper’s promoter group.
- Other Costs: Consideration is subject to TDS, stamp duty and other transaction costs.
About The Asset – Novotel Imagicaa
A ready, cash-generating property in the Mumbai-Pune corridor:
- Location: Khopoli, Raigad district – 2 hours from Mumbai airport, adjacent to Imagicaa Theme Park & Water Park
- Size: ∼11 acres land parcel,
∼2,80,000 sq ft built-up area
- Inventory: 287 guest rooms, restaurants, banquet & MICE facilities, spa and recreational amenities
- Demand Mix: Strong base in leisure, social and MICE segments
Why Juniper is Buying It?
As per the company's release, this fits Juniper's strategy of owning the "Right Assets in Right Markets".
- Day 1 Cash Flow: No greenfield wait time. It's an operating asset.
- Expansion Potential:
Immediate scope to add banqueting/ballroom capacity using adjacent theme park space.
- Upscale Play: Opportunity to reposition the asset into the upper-upscale segment for long-term revenue growth.
About Juniper Hotels
Juniper is a luxury hotel ownership & development company. It currently owns and operates 7 hotels with 1,895 keys including 245 serviced apartments.
Portfolio includes: Grand Hyatt Mumbai Hotel & Residences, Andaz Delhi, Hyatt Regency Ahmedabad, Lucknow, Raipur and Hyatt Place Hampi.
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