Juniper Hotels proposes acquisition of Novotel Imagicaa for Rs 248 crore

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 square feet, the hotel offers 287 well-appointed guest rooms complemented by a curated selection of restaurants, versatile banquet and meeting venues, spa and recreational facilities.

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.

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. < P> Juniper Hotels (JHL) is engaged in the development and ownership of luxury hotels. It is the largest owner of Hyatt affiliated hotels in India. The company is a strategic partnership between the Saraf group, a seasoned hotel developer with over four decades of expertise, and Hyatt, a premier international hospitality player.

The company's consolidated net profit surged to Rs 33.26 crore in the quarter ended June 2026 as against Rs 9.00 crore during the previous quarter ended June 2025. Sales rose 13.04% to Rs 249.53 crore in Q1 FY27 as compared with Q1 FY26.

The scrip shed 0.49% to end at Rs 214.40 on the BSE today.

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