Amusement park operator Wonderla Holidays Ltd is planning to expand its footprint through new parks, resort projects and upgrades to existing properties as it remains optimistic about demand growth in FY27.
The company currently operates five parks in Chennai, Bengaluru, Kochi, Hyderabad and Bhubaneswar and plans are on to add at least five more over the next few years. It expects two to three projects to be completed over the next five years and at least one this year, said Executive Chairman and Managing Director Arun K. Chittilappilly during earnings call.
Talks with four State governments
Wonderla is currently in discussions with at least four State governments for potential projects, largely in major cities. However, project execution timelines continue to depend on factors such as land availability, water access and regulatory approvals.
Besides, the business requires nearly 50-60 licences annually from State authorities, making regulatory clearances a critical factor in finalising new locations. “We will would announce projects only after achieving sufficient visibility on approvals and operational feasibility. That’s why the delay,” he said.
Focus on resorts
Wonderla is also looking at resorts as an adjacent growth opportunity linked to its amusement park business.
According to the management, demand for premium staycation experiences has increased significantly after the pandemic, particularly as parks mature and visitors seek integrated leisure offerings.
The company plans to invest further in resort infrastructure around its parks to improve visitor engagement and increase average customer spending.
Long term strategy
Wonderla‘s long-term strategy is to focus on scaling new assets, improving performance of mature parks and investing in differentiated customer experiences.
The expansion strategy includes development of new parks, makeover of existing facilities, strengthening digital and marketing capabilities, enhancing in-house design expertise and integrating resorts with amusement parks to improve customer engagement.
“With improving traction across our portfolio and a full-year contribution expected from Chennai, we remain optimistic about the growth outlook for FY27,” he said.
Revenue flow
According to the management, Bengaluru and Chennai are expected to remain the strongest-performing markets, followed closely by Hyderabad and Kochi. Bhubaneswar, being a smaller Tier-II or Tier-III market, is expected to contribute at a relatively lower scale.