The special township will be built on 88 acres of the surplus land for which the company will tie up with developers, says Kapil Bagla, CEO of Adlabs Entertainment.
The expected revenue from the snow park will be around Rs 15-18 crore, and it will contribute about 25 percent to the total business, says Kapil Bagla, CEO of Adlabs Entertainment.
Kapil Bagla, CEO of Adlabs Entertainment says there was 75 percent occupancy in Novotel Imagica with an Average Revenue per Room (ARR) at Rs 5,800.
With Aquamagica contributing 40 percent to the total topline of Rs 85 crore, Kapil Bagla, CEO of Adlabs Entertainment believes it to be an ideal park for Mumbai-like climate.
The IPO of the company, which runs amusement park Adlabs Imagica, received a tepid response and was subscribed just 1.11 times with Thrill Park promoter holding reducing to 57 percent from 77 percent.