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 approximately 11 acres of land and a built-up area of 2,80,000 sq. ft., comprising 287 guest rooms and associated facilities. A Memorandum of Understanding (MoU) will be entered into with the seller, Imagicaaworld Entertainment Limited. Further disclosures will be made upon execution of definitive documents and material developments. The transaction is not a related party transaction.