Published On:February 24 2012
Story Viewed 2664 Times
Wonderla drwas up expansion plans for south, set to enter hospitality sector
Wonderla Holidays Pvt Ltd, the amusement parks firm from the promoters of V-Guard Industries Ltd, is planning to set up two amusement parks in Hyderabad and Chennai in next four years, with an investment of around Rs 400 crore. The company is also entering into hospitality segment by launching a resort in its Bangalore park next month.
The company is to invest Rs 200 crore each in Hyderabad and Chennai projects, aim is to complete the two projects within 2015, of which Hyderabad project might roll out initially, in 2014.
The company, which is currently debt free, could fund one of the projects through internal accruals and debt, but if both the projects happen to start togather, it would look for raising fund from investors including private equity.
It is also launching its first Wonderla Resort of 3 star facility with around 85 rooms inside the amusement park in Bangalore. It would go for an expansion to around 160 rooms in the park in a later stage and plans are to set up similar resorts in Kochi park and in the upcoming Hyderabad and Chennai parks.