Stuck Between a Rock & a Hard Place: Hard Rock Park is For Sale
According to the Sun News in Myrtle Beach
, Hard Rock Park has put itself up for sale.
The $400 million theme park that opened last spring shut down for the season in September as well as filed for chapter 11 bankruptcy protection. If a buyer doesn't come forward to purchase the park for an undisclosed sum it will remain closed for the 2009 season.
Given the current economic situation there may not be too many takers for the park. Cedar Fair and Six Flags look like unlikely suitors given how stretched their budgets are. Could Herschend Family Entertainment or an international firm make an offer?
I've heard a couple of versions of this story. The story with the whole severance thing has been denied by the park. The park is indeed for sale, yet different reports say different things about whether or not it will open if a buyer isn't found.
We need to band together and make it TPI's Hard Rock Park. Robert, can you take point on this effort?
I think even with the current economic climate Hard Rock Park isn't too bad an investment. Anyone who does come in will have to be able to dedicate a lot of resorces to this project and a lot of capital will be involved. Losses may be faced in the next two years but with some patienece I see this being a highly profitable park in years to come.
No, no, no.....
People go to the beach in MB, but you don't think that they go other places too. Doesn't Orlando see Daytona Beach visitors.
How about Disney takes it and makes it a music park? I want Disney or Universal to take it. Too much good is in that park for it to remain closed
If anything Disney will buy Bush Gardens and Sea Word, where they can actually work with those themes and "Disney-fy" it....there is not enought at Hard Rock Park to make it a decent Disney Park...people complain about DCA, imagine Hard Rock Park...I personally think an entire park themed to music is boring and repetitive
Derek, you pretty much described exactly what any idiot with a working copy of Rollercoaster Tycoon would have prescribed for Hard Rock Park.
Pretty sure I spent a whole paragraph talking about the discounts. Those discounts weren't available from the beginning. The Carolina Resident discount was horrible advertised and was only for one month. The family of 4 discount was junk - they tried that before they finally realized that they needed a children ticket.
I like the Hard Rock concept. It's creative, and it seems to lend well to a park. I bet though, that the license for the brand is costing them quite a bit. What I don't know is what exactly that license entails. Does it cover merchandise, or does HRC take a cut of that as well? The park uses several classic rock and pop songs on rides. Typically the owner of the publishing for the song would collect royalties or a fee of their own for the song's use, not to mention a fee for those who own the images and likenesses of several rock legends used in the park. Are the songs and likenesses covered under the HRP license? If not, than it's costing them more to even open the park. That being said, I would not be surprised to see the Hard Rock brand and music theme gone next year if it has a new owner. If Blackstone buys, it may stick around, but if a smaller company purchases the park, I just don't see it being there.
Lets see Disney take over HRP..not likely...But i am suprised that Hard Rock Company hasnt stepped in...and ponnied up! It is their branding here...As far as Disney taking over Seaworld..again not likely...Fl goverment has placed anti monapoly law which blocks that...And they need to fix whats wrong at home first before then..But enough on that Hard Rock is a great park..And needs to reopen for 2009. And let someone who knows how to make it work do their magic...
I must be nuts! 10-15 million visitors (iffy number at best- that's a 50% margin for errors) can't support 3.0 million visitors to an amusement park built in area that is 29 miles long with 10 major points of egress, built in support of the beach environment and the golfing community. During the shoulder months, Dad is NOT golfing while the kids are at the amusement park- Some visitation during normal shoulder months occurs, but it is not so much the 4 day weekend visit, as much as it is a quick trip to the beach.
Like I said, you are nuts.. The number of visitors varies between 10-15 million in any given year...usually around 14, and can be more. Golf season is there in some form or another all year long, but mainly in the spring and fall. The peak months see pretty much nothing but families, not retired people who play golf. Springtime also sees spring break kids, high school graduates, a large motorcycle rally, and early vacationers taking advantage before hotel prices go up. Fall sees another bike rally, late vacationers and weekenders taking advantage of hotel price drops, and Halloween. Did I also mention that 300,000 people live in the metro area and the only two parks within any stretch of the imagination are Six Flags Georgia and Carowinds? Certainly out of a 200 mile range and a huge tourist base from the mideast/west, a good entertaining operation with a sound marketing strategy can get at least 4-5 million. Yes people go to the beach...alot, but how do you explain 6 large shopping malls, dozens of nightclubs, waterparks, museums, a load of minigolf courses, and the numerous other attractions all over the surrounding area. Why haven't they failed? Because people don't stay on the beach all week.
Yes, a business model has to be based off of business-school basics. "Show business" means you had better understand the business if you want the show to continue! There is no way to 'force' a good concept to be profitable and stay in business just because it is fun or cool or both...that's the kind of thinking that sinks themeparks and entertainment venues all over the world.
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