Juniper Hotels to acquire Novotel Imagicaa property in ₹248 crore deal

Juniper Hotels has entered into a binding agreement to acquire the Novotel Imagicaa, a 287-room hotel located in Khopoli, Maharashtra, in a transaction valued at ₹248 crore. The acquisition marks a strategic expansion for the hotel operator, which aims to strengthen its presence in the hospitality sector.

Situated adjacent to Imagicaa's theme and water parks, the property is positioned to benefit from significant footfall generated by the entertainment venue. The hotel's operational status and established revenue streams make it an attractive addition to Juniper Hotels' existing portfolio, which comprises both newly developed and acquired properties across key markets.

The deal demonstrates continued consolidation and M&A activity in India's hospitality sector as operators seek to expand their room inventory and geographic reach. The acquisition is expected to enhance Juniper Hotels' cash flow generation and strengthen its market position in the leisure tourism segment.

The transaction is subject to customary closing conditions and regulatory approvals. Completion timelines and integration plans for the property have not been disclosed by the company.