Juniper Hotels signs ₹248 crore deal for 287-key Novotel Imagicaa
Juniper Hotels has signed a binding MoU to acquire Novotel Imagicaa in Khopoli, strengthening its presence on the Mumbai–Pune corridor. The company may reposition the property to upper-upscale and add banqueting capacity; closing is expected by March 31, 2027.
What happened
Juniper Hotels signed a binding MoU to acquire the 287-key Novotel Imagicaa in Khopoli for ₹248 crore, expanding its Mumbai-Pune corridor presence. The company
Key facts
- ₹248 crore consideration
- 287 keys
- approximately 11 acres
- approximately ₹86 lakh per key
- ₹22 crore FY25 EBITDA
What changed
Juniper Hotels signed a binding MoU to acquire the 287-key Novotel Imagicaa in Khopoli for ₹248 crore, expanding its Mumbai-Pune corridor presence. The company plans potential upper-upscale repositioning and added banqueting capacity as it targets portfolio growth.
Why this matters
Juniper’s acquisition of the 287-key Novotel Imagicaa strengthens its leisure and corridor presence while creating scope to lift rates and events revenue through an upper-upscale repositioning and added banqueting capacity.
What to watch
- Announcement of definitive agreements, regulatory approvals and transaction closing.
- Disclosed acquisition consideration, funding mix, assumed liabilities and expected capex.
- Brand repositioning decision and any revised Accor management/franchise arrangements.
- Banqueting expansion plans, renovation timeline and hotel operating disruption.
- Occupancy, ADR and RevPAR trends at leisure-led hotels on the Mumbai-Pune corridor.