Juniper Hotels to acquire 287-room Novotel Imagicaa for ₹248 crore
Juniper Hotels will buy Novotel Imagicaa in Khopoli from Imagicaaworld Entertainment for ₹248 crore in cash, adding a leisure-market asset near Mumbai. The transaction is targeted to close by March 31, 2027, subject to approvals and other conditions.
What happened
Juniper Hotels will acquire the 287-room Novotel Imagicaa hotel in Khopoli from Imagicaaworld Entertainment for ₹248 crore in cash, expanding its leisure-market
Key facts
- ₹248 crore
- approximately ₹86 lakh per key
- 11 acres
- 2,80,000 sq. ft.
- 287 guest rooms
What changed
Juniper Hotels will acquire the 287-room Novotel Imagicaa hotel in Khopoli from Imagicaaworld Entertainment for ₹248 crore in cash, expanding its leisure-market portfolio near Mumbai. The deal is expected to close by March 31, 2027.
Why this matters
Adding the 287-room Novotel Imagicaa gives Juniper Hotels a sizeable leisure asset near Mumbai and potential demand synergies with the adjacent theme park.
What to watch
- Definitive approval and closing progress versus the March 31, 2027 target.
- Disclosure of the property's occupancy, ADR, RevPAR, EBITDA and required renovation capex.
- Theme-park visitation trends, particularly weekend, school-holiday and monsoon-season demand.
- Evidence of room-and-attraction packaging, Marriott Bonvoy distribution initiatives or group-event sales expansion.
- Juniper's funding mix, leverage trajectory and post-acquisition capital-allocation capacity.