GOVERNMENT OF KARNATAKA .GOVERNMENT OF KARNATAKA INITIATIVE 1 ... tourism infrastructure at tourist

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  • Development of Disney Land Theme Part at Bengaluru

    GOVERNMENT OF KARNATAKA INITIATIVE

    1

    Detailed Project Report

    PROJECT REPORT

    GOVERNMENT OF KARNATAKA INITIATIVE

    DEVELOPMENT OF DISNEY LAND THEME PARK AT BENGALURU

    TOURISM PROJECTS FOR INVESTMENT

    OPPORTUNITIES

    INVEST KARNATAKA 2016

    NOVEMBER 2015

  • Development of Disney Land Theme Part at Bengaluru

    GOVERNMENT OF KARNATAKA INITIATIVE

    2

    Table of contents

    1. Introduction ....................................................................................................... 5

    1.1 Background ............................................................................................................................. 5

    1.2 Objectives................................................................................................................................ 5

    1.3 Approach and Methodology ................................................................................................... 7

    2. Sector Profile ..................................................................................................... 8

    2.1 Tourism Industry Overview ..................................................................................................... 8

    2.1.1 In the Indian Context .......................................................................................................... 8

    2.1.2 Tourism in Karnataka .......................................................................................................... 9

    2.2 Amusement Park Industry Overview .................................................................................... 10

    2.2.1 Indian Amusement Park Industry ..................................................................................... 10

    2.2.2 World Amusement Park Industry...................................................................................... 12

    3. Overview of Bengaluru ................................................................................. 16

    4. Competition Analysis .................................................................................... 26

    5. Infrastrucutre Assessment .......................................................................... 28

    6. Project Concept ............................................................................................... 31

    6.1 Tourism Policy ....................................................................................................................... 31

    6.2 Project Component ............................................................................................................... 31

    6.3 Project Drivers ....................................................................................................................... 32

    7. Suggested Project Location ......................................................................... 33

    Road Infrastructure: .......................................................................................................................... 35

    Proposed Development: ................................................................................................................... 36

    8. Statutory & Legal Frameworks .................................................................. 38

    9. Project Structuring Options ........................................................................ 39

    9.1 Review of different PPP Frameworks ................................................................................... 39

    9.2 Proposed Structure ............................................................................................................... 40

    9.3 Responsibility of the developer ............................................................................................ 41

    9.4 Implementation Structure .................................................................................................... 42

    9.5 Risks assessment ................................................................................................................... 43

    9.6 Types of Bidding .................................................................................................................... 43

    9.7 Salient features of Instruction to Bidders (ITB)..................................................................... 45

  • Development of Disney Land Theme Part at Bengaluru

    GOVERNMENT OF KARNATAKA INITIATIVE

    3

    9.8 Salient Features of Draft Project Development Agreement (PDA) ....................................... 47

    10. Estimation of Project Costs ......................................................................... 53

    11. Way Forward .................................................................................................... 55

    10.1 Critical Success factors .......................................................................................................... 55

    10.2 Way Forward ......................................................................................................................... 55

    Annexure I - Case Studies ................................................................................... 56

    1.1 Walt Disney World Resort, Florida, USA ............................................................................... 56

    1.2 Genting Highlands, Malaysia ................................................................................................. 72

    1.3 Sentosa, Singapore ................................................................................................................ 82

    1.4 Six Flags ................................................................................................................................. 95

    1.5 Universal Studios................................................................................................................. 101

    1.6 Wild Wadi Water Park, Dubai ............................................................................................. 102

  • Development of Disney Land Theme Part at Bengaluru

    GOVERNMENT OF KARNATAKA INITIATIVE

    4

    List of Tables

    Table 1: Investments in Tourism Sector .................................................................................................. 9

    Table 2: Key Features of Theme Parks in India ..................................................................................... 11

    Table 3: Urban Branding of Cities ......................................................................................................... 21

    Table 4: Urban Household Annual Household ...................................................................................... 21

    Table 5: Urban Branding of Cities ......................................................................................................... 22

    Table 6: Weather & Climatic Influence in Bengaluru ............................................................................ 23

    Table 7: Top visited Theme Parks in the World .................................................................................... 26

    Table 8: Comparative Martrix of Theme Parks ..................................................................................... 28

    Table 10: Requirements of difference PPP frameworks ....................................................................... 40

    Table 11: Features of proposed DBFOT structure ................................................................................ 40

    Table 12: Scenarios for Annual Payment .............................................................................................. 50

    Table 13: Termination payments for Force Majeure Events and Event of Default .............................. 51

    Table 14: Force Majeure Events ........................................................................................................... 52

    List of Figures

    Figure 1: Approach to the project ........................................................................................................... 7

    Figure 2: Top 10 Largest Amusement Park Corporation in the World ................................................. 13

    Figure 3: Top 10 Largest Amusement Parks in Asia-Pacific Region ...................................................... 14

    Figure 4: SEC Share across Cities ........................................................................................................... 20

    Figure 5: Income Groups across Major Cities in India .......................................................................... 22

    Figure 6: World Map indicated location of Large Amusement/Theme Parks ...................................... 27

    Figure 7: Implementation Framework ..................................................................................................... 42

    Figure 8: Implementation Framework .................................................................................................. 42

    Figure 9: Types of Bidding ..................................................................................................................... 43

    Figure 10: Stages of Bidding .................................................................................................................. 44

    Figure 11: Critical Success Factors ........................................................................................................ 55

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