Guess the Hard Rock Park bankruptcy sale price
Hard Rock Park:
It's in auction now. What do you think the park will sell for?
See the Blog Flume entry on the Hard Rock Park bankruptcy sale
to submit your entry.
Though I have never been to the park, it looks like it had some good and intersting rides. I hope they reopen or build it somewhere else. Comments on this site actually got me interested in it. Perhaps move it to Cleaveland by the Rock n Roll Hall of Fame and make it seasonal or move it to CA or FL
I said it in another thread, but I'll officially enter it here. Given the state of the economy and the banks, and the fact that many companies aren't in shape enough to buy paper, let alone spend millions on a park, I think the price will be uncharacteristically low. The park would fetch at least 100 million a couple of years ago, but this year I say...
That being said...anyone who pays 150 mil is probably opening back up. Let's hope for that.
Its just a guess though if somebody wants to reopen it, they can probably get a really good deal on it! So I am sticking with 150 and we will see what happens.
$35 million plus the promise that the new "owners" will operate the park for 3 years-minimum, and invest the necessary operating cash to make that possible and feasible- $35 plus $10 +$7 +$3 overall investment of $55 million- then re-negotiate.
From steve lee
Posted December 18, 2008 at 7:24 PM
Did anybody guess "zero point zero?"
Looks like everyone overbid, so no one gets to go to the Showcase Showdown...
Where is Ted
when we need him? (Scroll down for reference.)
From Ben James
Posted December 19, 2008 at 8:29 AM
So Robert, if I call them and bid $1 does that mean I would own Hard Rock Park?
I would love to see them do a no-reserve auction, just to find out a market price. Hey, maybe we could be a player then!
FWIW, if I'm InBev or someone at BEC, I can't like this development. If HRP is worth < $35M, that can't help the current market valuation of the Busch theme parks.
Maybe this will convince inBev to hold tight. I hope so. I think they will be pleasantly surprised by their parks' performance and marketing value.
From Chaz B
Posted December 19, 2008 at 1:23 PM
Robert I am going to have to disagree with you on that one. InBev has already laid off over 2,000 AB jobs, the parks have lost several projects due to the new ownership, and with InBev's zero budget way of doing things I am afraid what else the great parks will lose.
That would be shameful, short-sighted management. The parks could be a cash cow for InBev, and great promotion for InBev brands. It kills me when managers won't see that.
From Chaz B
Posted December 19, 2008 at 1:31 PM
It is a shame, but I agree with you that the bid for the parks right now would be well short of what InBev wants out of the deal. I hope they don't sell the brands seperately.
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