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Juniper Hotels to acquire Novotel Imagicaa
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Friday, 18 September, 2026, 08 : 00 AM [IST]
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Our Bureau, Mumbai
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Juniper Hotels Ltd (“Juniper” or “the Company”), one of India’s leading luxury hotel development and ownership companies, has announced the proposed acquisition of an operating hotel, Novotel Imagicaa from Imagicaaworld Entertainment Ltd (formerly known as Adlabs Entertainment Ltd) for an aggregate consideration of Rs 248 crore at approximately Rs 86 lakh per key, subject to the terms and conditions of the definitive agreements.
Spread across approximately 11 acres in Khopoli, Maharashtra, Novotel Imagicaa is strategically located near the economic centres of Mumbai and Pune, with the airport accessible within a two-hour drive. The hotel sits adjacent to the Imagicaa Theme Park and Water Park. Spanning a built-up area of approximately 2,80,000 sq. ft., the hotel offers 287 well-appointed guest rooms complemented by a curated selection of restaurants, versatile banquet and meeting venues, spa and recreational facilities. It has established a distinct niche in the leisure and social segments, reinforcing the asset’s standing as a complete family holiday destination.
The acquisition advances Juniper's long-term objective of building a portfolio of large, high-quality hotels in India's most compelling business and leisure destinations.
Commenting on the acquisition, 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.
Our upcoming developments will significantly expand the company’s scale. We remain focused on owning the ‘Right Assets’ in the right markets, large, capable of generating diversified revenue streams across rooms, F&B, MICE, serviced apartments, commercial spaces and other hospitality offerings. We intend to pursue this growth with capital discipline, strong internal cash generation and a healthy balance sheet, and selectively evaluate acquisition opportunities where we see a compelling strategic fit.”
Completion of the acquisition is subject to execution of definitive agreements, satisfaction of customary closing conditions, and receipt of any required statutory, regulatory, and other approvals.
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