Transaction Details

  • Transaction Type: Divestment of 287-key Novotel Imagicaa hotel property through slump sale of hotel undertaking as a going concern
  • Buyer: Juniper Hotels Limited
  • Consideration: ₹248 crore
  • Property Details:
  • Location: Khopoli, adjacent to Imagicaa Theme Park and Water Park on Mumbai-Pune corridor
  • Land Area: Approximately 11 acres
  • Built-up Area: Approximately 2.8 lakh square feet

Approval Status

  • Board approval received on September 17, 2026
  • Subject to execution of definitive agreements
  • Subject to receipt of applicable statutory and regulatory approvals
  • Subject to shareholder approvals

Strategic Rationale

  • Strengthens balance sheet to focus on core entertainment business
  • Unlocks capital for next phase of growth
  • Specific growth initiatives include:
  • Expansion of park portfolio across new geographies
  • Addition of new attractions and experiences across existing parks
  • Further investment in high-growth indoor entertainment segment
  • Building broader and more diversified entertainment portfolio

Financial Impact

  • EBITDA Margin Comparison:
  • Parks business operates at approximately 40-45% EBITDA margin
  • Hotel business operates at approximately 25-30% EBITDA margin
  • Divestment expected to improve overall EBITDA margins
  • Transaction provides additional growth capital and greater financial flexibility

Strategic Benefits Beyond Capital Unlock

  • Juniper Hotels plans upscaling of Novotel Imagicaa expected to strengthen overall Imagicaa destination
  • Enhanced value offering expected to improve destination's overall experience
  • Creates greater opportunities to attract multi-day visitors
  • Strategic relationship and seamless integration between hotel and theme park will continue unaffected

Management Commentary

Jai Malpani, Managing Director, stated that the transaction:

  • Marks an important step in the evolution of Imagicaaworld
  • Recognizes strategic value of Novotel Imagicaa as destination-linked hospitality asset
  • Concluded at attractive valuation reflecting premium associated with Novotel's unique positioning
  • Provides growth capital and financial flexibility for expansion phase
  • Core business synergies between hotel and theme park remain completely unaffected

Safe Harbour Statement

Document contains forward-looking statements subject to numerous risks and uncertainties, not necessarily predictive of future results. Company assumes no obligation to update forward-looking statements.