Juniper Hotels to Acquire Novotel Imagicaa for ₹248 Cr

Juniper Hotels Limited announced its Board of Directors has approved the acquisition of the operating hotel, Novotel Imagicaa in Khopoli, Maharashtra, for an aggregate lump-sum purchase consideration of Rs. 2,48,00,00,000/-. The acquisition includes the hotel undertaking comprising approximately 11 acres of land and a built-up area of 2,80,000 sq. ft., with 287 guest rooms, restaurants, banquet facilities, and recreational amenities. The company will enter into a Memorandum of Understanding (MoU) with the seller, Imagicaaworld Entertainment Limited, and will provide further disclosures upon execution of definitive documents and material developments. This transaction is not considered a related party transaction.