Asia-Pacific Quick Takes | September/October 2021
Major Theme Park Investment in Australia's Gold Coast
The “Hooray for Hollywood” parade at Warner Bros. Movie World is the biggest the park has ever produced. Starlets, performers, “The Wizard of Oz” characters, and Austin Powers are all in the show as part of the Australian park’s 30th anniversary and a suite of new projects by Village Roadshow Theme Parks (VRTP) across its Gold Coast properties. VRTP is also rolling out three new water slides and a splash zone at Wet’n’Wild; The New Atlantis themed land at Sea World, anchored by a new towering swing ride, wooden roller coaster, and inverting thrill ride; and a meerkat exhibit at Paradise Country. The total investment cost is AU$70 million and is expected to create 100 jobs.
“New tourism infrastructure is an important part of our economic recovery plan for the Gold Coast,” says Queensland Premier Annastacia Palaszczuk. “To see one of the tourism industry’s largest employers investing in new attractions is a sign of great confidence in the Gold Coast.”
Australia’s Village Roadshow was taken over by the private equity firm BGH Capital late last year in a deal that valued the company at AU$585 million.
New Museum in Hong Kong Celebrates Ramen
Who hasn’t enjoyed a cup of instant ramen noodles? For many in Asia, Nissin Foods’ Cup Noodles is comfort food. The story of ramen’s creation can now be found in Hong Kong at the CUPNOODLES Museum in Tsim Sha Tsui, Kowloon. The museum recounts the story of Momofuku Ando, the founder of Nissin Foods who invented a noodle dish that can be eaten at home simply by adding hot water. Ando later developed a version for astronauts to enjoy in space. Visitors can learn to make ramen from scratch and create personalized products in the museum’s interactive workshops. There are also several spots for photo opportunities, including a 3-meter Big Cup and a Cup Noodles Wall that highlights different flavors and packaging from across the globe.
The company also continues to look for consolidation opportunities in the leisure industry.