Juniper Hotels has announced the proposed acquisition of the operating Novotel Imagicaa hotel from Imagicaaworld Entertainment for an aggregate consideration of ₹248 crore, translating to approximately ₹86 lakh per key.
Spread across around 11 acres in Khopoli, Maharashtra, Novotel Imagicaa enjoys a strategic location near the economic hubs of Mumbai and Pune. The property is also accessible from the airport within approximately two hours by road. Furthermore, the hotel sits next to the Imagicaa Theme Park and Water Park, giving it access to an established leisure destination.
The hotel has a built-up area of approximately 2,80,000 square feet and features 287 guest rooms. In addition, the property offers multiple restaurants, flexible banquet and meeting spaces, spa facilities, and recreational amenities.
The proposed acquisition supports Juniper Hotels’ long-term strategy of building a portfolio of large, high-quality hotels across key business and leisure destinations in India.
Arun Kumar Saraf, chairman & managing director, Juniper Hotels, said, “At Juniper, our growth journey has always been guided by a simple principle: grow with purpose and create value for the long term. Novotel Imagicaa represents the kind of asset we look for. It is an established hospitality property with scale, a strong destination proposition, and multiple demand generators.”
Juniper Hotels (JHL) develops and owns luxury hotels and remains the largest owner of Hyatt-affiliated hotels in India. The company operates through a strategic partnership between the Saraf group, a hotel developer with more than four decades of experience, and Hyatt, a global hospitality company.
Meanwhile, Juniper Hotels reported a consolidated net profit of ₹33.26 crore for the quarter ended June 2026, compared with ₹9.00 crore in the corresponding quarter ended June 2025. The company’s sales also increased 13.04% to ₹249.53 crore in Q1 FY27 from the same period in FY26.
Following the announcement, the Juniper Hotels scrip declined 0.49% to close at ₹214.40 on the BSE on Wednesday.
