18 September 2026 : Imagicaaworld Entertainment Limited, India’s largest amusement and water park player, today announced that its Board has approved the proposed divestment of its 287 key Novotel Imagicaa hotel at Khopoli to Juniper Hotels Limited for an aggregate consideration of ₹248 crore, marking a strategic capital allocation move that strengthens the company’s next phase of profitable growth.
The transaction reinforces Imagicaaworld’s strategy of unlocking value from a mature hospitality asset and redeploying capital into its higher-margin core entertainment business, including park expansion, new attractions and indoor entertainment formats. The proposed transaction remains subject to definitive agreements and applicable statutory, regulatory and shareholder approvals.
The Novotel Imagicaa, spread across nearly 11 acres with a built-up area of approximately 2.8 lakh sq. ft., will continue to remain an integral part of the broader Imagicaa destination, with guest experience and operational synergies expected to continue seamlessly.
The transaction also strengthens the company’s financial profile by increasing its focus on businesses that generate stronger returns. While Imagicaaworld’s parks business operates at EBITDA margins of approximately 40 to 45 percent, the hotel business operates at 25 to 30 percent, making the capital reallocation strategically value accretive.
Juniper Hotels’ planned upscaling of Novotel Imagicaa is also expected to elevate the overall destination proposition, supporting greater appeal among overnight and multi day visitors.
Commenting on the acquisition, Jai Malpani, Managing Director, Imagicaaworld Entertainment Limited said, “The proposed divestment of Novotel Imagicaa marks an important step in the evolution of Imagicaaworld. Over the years, we have built a strong and differentiated entertainment platform, and we now see a significant opportunity to deploy capital towards expanding this platform across new geographies, strengthening our existing parks and building our presence in indoor entertainment. We believe the proposed transaction recognizes the strategic value of Novotel Imagicaa as a destination-linked hospitality asset. The transaction is being concluded at an attractive valuation reflecting the premium associated with Novotel Imagicaa’s unique positioning within the integrated Imagicaa destination. The transaction also provides us with additional growth capital and greater financial flexibility as we enter the next phase of our expansion.
Notably, notwithstanding the change in ownership of the hotel asset, the core business synergies between Novotel Imagicaa and the Imagicaaworld destination remain completely unaffected. The strategic relationship and seamless integration between the hotel and the theme park will continue to operate as usual, ensuring uninterrupted value creation and a consistent experience for our guests. Going forward, our focus will remain on creating differentiated entertainment destinations, expanding our presence across attractive catchments and delivering sustainable, profitable growth.”
The proposed transaction marks a pivotal step in Imagicaaworld’s evolution from an integrated destination operator to a capital-efficient entertainment growth platform. With a sharper focus on higher-return businesses and destination-led experiences, Imagicaaworld is positioning itself to drive its next phase of sustainable, profitable growth and strengthen its leadership in India’s fast-growing out-of-home entertainment market.