Multiplex-owner PVR Ltd is now talking entertainment in other forms, diversifying from its core cinema-based service.
PVR BluO Entertainment Ltd, a joint venture of PVR Ltd and Thailand-based Major Cineplex Group on Tuesday announced its plans to invest Rs 100 crore to set up about 500 to 600 lanes for bowling across India over the next three years.
“We will roughly spend around Rs 100 crore to set up to 600 lanes in the next 24 to 36 months,” said Ajay Bijli, managing director, PVR Ltd. “We are not in a hurry to open these and are studying the cities, mall locations and people’s spending patterns carefully.”
Bijli ruled out any possible impact of the slowdown in the real estate sector on BluO’s expansion plans.
PVR will fund about 51 per cent of the investment, while Major Cineplex Group will fund the rest. The company has set up the first 24-lane bowling alley at the Ambience mall located in Gurgaon and plans to focus on big cities like Delhi, Mumbai, Bangalore, Chennai and Kolkata to begin with.
The company is positioning these bowling alleys called BluO as lifestyle and entertainment zones and has tied up with the Indian Tobacco Company, Microsoft and Pepsi to set up smoking and entertainment lounges and bar.
The company officials did not comment on specific pricing but said that they will consider a flexible pricing model that will vary depending on the time of the day. For instance, cheaper tickets in the morning, similar to what they offer for movie tickets.
However, Bijli ruled out any plans to set up similar centres overseas.