India's Juniper Hotels gains after $25.9 million Novotel Imagicaa acquisition
17/09/2026 07:34
BUZZ-India's Juniper Hotels gains after $25.9 million Novotel Imagicaa acquisition ** Shares of India's Juniper Hotels JUNI.NS rise as much as 2.2% to 219.07 rupees
** Co to acquire 287-room Novotel Imagicaa hotel in Maharashtra for 2.48 billion rupees ($25.88 million)** JM Financial says acquisition values hotel at 11.5x FY25 EBITDA of 220 mln rupees and 15.5x FY26 EBITDA of 160 mln rupees
** Brokerage says entry valuation appears favourable, sees upside from upgrading hotel's positioning, adding banquet capacity and improving operating efficiency
** Adds deal takes JUNI closer to target of doubling portfolio to about 3,900 rooms by FY31
** Stock down 14.59% YTD
($1 = 95.8775 Indian rupees)
(Reporting by Anushka Rajvedi in Bengaluru)
((mailto: anushka.rajvedi@thomsonreuters.com))
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