Juniper Hotels to acquire 287-room Novotel Imagicaa in Khopoli for Rs 248 crore
Juniper Hotels has approved the acquisition of Novotel Imagicaa from Imagicaaworld Entertainment. The 11-acre, 287-room operating hotel could be repositioned and rebranded in the upper-upscale segment; closing is expected by March 31, 2027.
What happened
Juniper Hotels approved acquisition of Novotel Imagicaa in Khopoli from Imagicaaworld Entertainment for Rs 248 crore. The 287-room operating hotel may be
Key facts
- Rs 248 crore acquisition value
- approximately 11 acres
- approximately 2.8 lakh square feet built-up area
- 287 guest rooms
- approximately Rs 86 lakh per key
What changed
Juniper Hotels approved acquisition of Novotel Imagicaa in Khopoli from Imagicaaworld Entertainment for Rs 248 crore. The 287-room operating hotel may be repositioned and rebranded into the upper-upscale segment.
Why this matters
Juniper’s Novotel Imagicaa acquisition adds a 287-room leisure destination asset in Maharashtra, creating an opportunity to lift occupancy, rates and ancillary spend through upper-upscale repositioning and theme-park adjacency.
What to watch
- Announcement of definitive agreements, regulatory approvals and any revision to the March 31, 2027 closing target.
- Disclosed refurbishment budget, timeline, room inventory disruption and expected brand/rebranding decision.
- Hotel ADR, occupancy, RevPAR and EBITDA commentary relative to Juniper’s existing Maharashtra properties.
- Imagicaa visitor growth, new attraction launches, ticket pricing and park-hotel package penetration.
- Mumbai-Pune leisure demand, wedding and MICE bookings, and competing room supply in Khopoli, Lonavala and nearby destination markets.