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SSI forays into hospitality sector, 100 room Ooty Villa Park goes live
Posted On : 2006-04-21 06:04:15( TIMEZONE : IST )
Spread over 5 acres and overlooking the race course in the heart of the city, the revamped Ooty Villa Park was formally opened for they public under the new and professional management of SSI Ltd. The revamped Ooty Villa Park has over 100 rooms, 2 restaurants and 2 banquet halls.
During the quarter, SSI Ltd through its subsidiary Telephoto Entertainments Ltd (a company listed on the BSE) entered into an agreement to buy out a 1 acre plot in Arumbakkam, Chennai. Earlier this year, the company had also bought a property in Villivakkam, a suburb on the outskirts of Chennai.
Telephoto Entertainments Ltd intends to build out multiplexes in these two locations and both these are likely to go live over the next 12 months. As part of its Phase 1 expansion, the company has plans to setup over 25 screens across Tamil Nadu, in which it is expected to invest Rs.60 crores.
