Juniper Hotels signs MoU to acquire Novotel Imagicaa for ₹248 Cr

Juniper Hotels Ltd has entered into a Binding Memorandum of Understanding (MoU) with Imagicaaworld Entertainment Limited to acquire the operating hotel Novotel Imagicaa in Khopoli, Maharashtra. The acquisition is valued at ₹2,48,00,00,000/- (₹248 Crore), subject to adjustments. The hotel is situated on approximately 11 acres of land and comprises 287 guest rooms along with other hotel facilities. The company expects to execute definitive documents shortly and will make further disclosures. The seller is not related to Juniper Hotels' promoter or group companies, and the transaction is not considered a related-party transaction.