A projection type display apparatus includes a housing having a first side on which an air intake opening is arranged and a second side on which an air exhaust opening is arranged, a light source for supplying light, and a light valve device which modulates the light output from the light source. A first fan is provided which draws air from the air intake opening into the housing, and a first ventilation path is coupled with the air intake opening so as to lead air flow from the air intake opening toward a lower portion of the light valve. A second ventilation path is formed from the lower portion of the light valve to an upper portion of the light valve, and a second fan is provided which draws out air flowing from the second ventilation path through the air exhaust opening to outside of the housing.