Imagicaaworld Entertainment Limited sold its Novotel Imagicaa hotel to Juniper Hotels Ltd for ₹248 crore and acquired a 50% stake in Mehsana Next Parks Private Ltd, owner of Shanku’s Water Park. These moves were disclosed on Monday alongside a 6% decline in visitor footfalls for Q2 FY27. The company also announced plans to launch its first indoor entertainment venue, Hello Park, in Hyderabad this quarter, marking a strategic expansion.
The sale of Novotel Imagicaa was approved by Imagicaaworld’s Board, with a binding Memorandum of Understanding signed in early October 2026. The company completed the full conversion of 2,34,82,500 convertible warrants into equity shares after receiving ₹129.45 crore from promoters and selected investors. The water park acquisition expands its portfolio into the Gujarat region. The upcoming Hello Park will open at Lakeshore Mall through its subsidiary Imagicaa Next Private Limited.
Imagicaaworld’s consolidated visitor count across all parks dropped to 2.1 lakh in Q2 FY27 from 2.25 lakh in the same quarter last year, reflecting a 6% decline. The sale of the hotel asset and acquisition of a water park stake indicate a strategic shift towards core entertainment operations. The move into indoor entertainment aligns with broader trends in the sector, where companies diversify offerings to attract visitors year-round. The ₹248 crore hotel sale also strengthens the company’s liquidity position.
The company’s next financial update will cover Q3 FY27, during which the Hello Park indoor venue is scheduled to launch in Hyderabad. This marks Imagicaaworld’s first foray into indoor entertainment, expanding its presence beyond outdoor amusement and water parks. The full conversion of warrants into equity shares also bolsters its capital base for future growth initiatives.