So it could end up selling for more then that, who knows. Although I'm guessing that someone will buy it then sell off the rides, then eventually the land. If a park that cost $400 million to build ends up selling for $35 million...then thats really a sign of the times.
County Council members would not support the bonds because the company refused to open its books to explain the business plan.
But even as the park approached construction, national amusement park experts said they feared the park would not make it. Dennis Spiegel, considered one of the foremost experts in the industry, called it "questionable" and said Myrtle Beach was simply not a year-round market.
As the opening date approached, local business owners got more details about the park's plans for marketing itself and selling tickets - and soon became worried that the park's team did not understand the Myrtle Beach market. "The numbers of people were way out of line," said Frans Mustert, CEO of Oceana Hotels, a Myrtle Beach hotel group. "We told them we didn't think it was going to fly with their financials, but they never asked anyone else to invest, so we didn't care. If they had asked the chamber to invest, we would have said, 'Guys, you are crazy.' But they didn't." Initially, many had believed the park would be spending tens of millions in advertising to promote the park, but it became clear that the figure would be nowhere near that number, and the park would not advertise practically until the opening date. In November 2007, park representatives said they would be counting on free media publicity to get the word out and they would only be relying on the area's existing visitor base. The park had floated the idea of advertising with Direct Air, a Myrtle Beach-based charter airline, its CEO Judy Tull said. They even talked about painting an entire plane with a Hard Rock advertisement. But they told Tull they would not be able to pay for any of the marketing until near the opening date, so that idea fizzled.
The park did not do what most area attractions do to sell tickets - work with local hotels. The way many attractions such as Medieval Times get visitors to buy tickets is by selling them at hotel lobbies and using the hotels' sales staffs as extensions of their own sales staff. The attractions sell the tickets to hotels at a discount, and the hotels then mark up the tickets and sell them to guests. Instead, the park said it would only allow "preferred" hotels to sell its tickets.
Binkowski (the park's creative director and one of the guys who came up with the idea for the park) is back in Orlando, Fla., where he is in the middle of producing a low-budget horror flick he wrote and directed. "I have mixed emotions these days when I'm filling up my car with gas," he said, citing prices that have fallen about $2.50 a gallon since the summer peak. "But you can't control those kinds of things. You can't get too worked up." Binkowski said he hopes the park's new owner, which could be decided at an auction Monday and approved by a judge Thursday, will keep the Hard Rock theme. "I do wish them the best because I think they'll have an excellent product," he said.
Interesting! So basically they did everything wrong from the get-go, and one of the guys responsible for the whole mess seems to put the whole blame on $4 per gallon gas this summer.
The not working with hotels thing just floors me. The last time we went to CP the hotel we stayed at actually handed us discount pop cans (this promo seems to go on every year) and said enjoy your time here. I think it was maybe $7 off or something but still.
To not work with the locals is just nuts and suicide in my pinion.
If you choose not to decide you still have made a choice.... Rush- Freewill
I need a ride on the SwampFox!!
I rode Son of Beast with the Loop!
Looks like they took that rock'n'roll theme a bit too far in their own minds. I guess the whole "down with authority, don't tell us what to do with our park, we're doing it our own way" mentality worked out really well, huh?
Great job, guys. Definitely worthy of severance pay. Sure.
Instant karma's gonna get you.
Displaying "Online Enthusiast Morality" since 2006, with 99.9% more sarcasm.
Jeesh, you make countless idiotic decisions, then cite gas problems. I can't believe these people thought they could construct an amusement park and have it run well. They clearly had no idea at all what the heck they were doing.
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