MUMBAI: National multiplex chain Inox Leisure has pulled out the management control from a multiplex property in Jaipur with effect from 1 April, 2009.
This multiplex, which is situated at Entertainment Paradise, was inaugurated six months back in September, 2008. Entertainment Paradise will continue to operate independently. At present Inox Leisure has a total of 26 multiplexes and 91 screens in 19 cities, including three in Jaipur.
As was earlier reported by Businessofcinema.com, Inox was planning to invest Rs 1.6 billion (Rs 105.75 crores) in Karnataka for nine multiplex properties till 2010.
While the operating cost of multiplexes is high, the occupancy levels at multiplexes have been severely affected with lackluster film releases over the last couple of months. Moreover, tomorrow (3 April) will see the last movie – 8×10 Tasveer – releasing in multiplexes before the producers’ strike begins. Come 4 April and new movies will not see the light of day in India across multiplexes owing to the strike, which is over revenue sharing terms between film producers and national multiplex chains.