Juniper Hotels shares rise 2% on proposed Rs 248 crore acquisition of Novotel Imagicaa

Shares of Juniper Hotels gained nearly 2% on Thursday, hitting a day’s high of Rs 219.07 on the NSE, after the company announced a proposal to acquire the operating Novotel Imagicaa hotel in Khopoli, Maharashtra, for an aggregate lumpsum consideration of Rs 248 crore.

According to an exchange filing, the company said the proposed transaction involves the acquisition of Novotel Imagicaa, an operating hotel undertaking in Khopoli, Raigad district, Maharashtra. The aggregate lump-sum purchase consideration is Rs 248 crore, or approximately Rs 86 lakh per key, subject to the terms and conditions of the definitive agreements.

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The proposed acquisition relates to an operating hotel business. Imagicaaworld Entertainment Limited owns the Hotel Undertaking.

The hotel undertaking comprises approximately 11 acres of land, with a built-up area of approximately 2,80,000 sq. ft., comprising 287 guest rooms, along with restaurants, banquet and meeting facilities, recreational amenities and other associated hotel infrastructure.

The proposed acquisition is aligned with Juniper’s hospitality business and adds an established, cashgenerating, 287-key hotel in the Mumbai–Pune corridor, catering to leisure, social and MICE demand.

The company further said that the Board of Directors in its meeting held on September 16, 2026, approved the Memorandum of Understanding (MOU) to be entered with Imagicaaworld Entertainment (Previously known as Adlabs Entertainment) for acquisition of operating hotel, Novotel Imagicaa.

The proposed transaction does not involve any issuance of shares by the company. 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.

“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,” said Arun Kumar Saraf, Chairman & Managing Director, Juniper Hotels.

“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,” Saraf further said.

The company also highlighted that this transaction offers several strategic advantages such as the acquisition will result in the addition of an established, operating 287-key hotel expected to generate stable cash flows from day one, without any lead time of greenfield development.

It will help in strategic presence in the Mumbai–Pune corridor catering to leisure, social, and MICE segments; will give potential to add incremental banqueting and ballroom capacity immediately to strengthen its social and MICE, from the adjacent Imagicaa parks and an opportunity to rebrand into the upper-upscale segment and drive higher revenue over the long term.

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The diversified demand generators resulting in multiple revenue streams across leisure, social, MICE, and weekend travel; and the opportunity to leverage Juniper’s asset management and hospitality expertise to drive long-term value creation.

Juniper Hotels share price movement

In the last one month, the stock of Juniper Hotels went up 12.97%. In the current calendar year and in the last one year, the stock was down 13.37% and 26.59% respectively.

Disclosure: This article has been written by Surbhi Khanna, who is not a SEBI-registered Research Analyst or an investment advisor . Surbhi Khanna does not hold any financial interest in Economic Times as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of the EconomicTimes Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment.