Wonderla plans to set up resort in Kochi amusement park
Steena Joy Posted online: Friday, Apr 11, 2014 at 0000 hrs
Wonderla Holidays, the amusement park operator, with two parks in Kochi and Bangalore, is looking to build a resort in its flagship park in Kochi. This will be on the lines of the Wonderla Resort in the park at Bangalore which has 84 rooms. Speaking to Financial Express online, George Joseph, chairman, Wonderla Holidays informed that the plans are still in the nascent stage but there was enough land in the Kochi park to accommodate a resort. "We have received tremendous response to the resort in our Bangalore park so we are considering replicating this in our Kochi park which was our first venture in the amusement park business."
He was speaking on the sidelines of the conference held to announce the maiden IPO of the group which will open on April 21, 2014. The IPO is being raised to part fund the company's third amusement park which will come up in Hyderabad. The land for the INR 250 crore project is already being acquired and all approvals are in place. "The IPO will raise around INR 190 crore and the rest of the money will be raised through internal accruals," informed Arun K Chittilappilly, managing director, Wonderla Holidays.
Work on the Hyderabad venture is expected to begin in a month or two and the park will become operational in 20 months later.