cgodsey

FYI, there were NO winners in the auction this week. They even extended it until yesterday. That means they got no minumum bids (35 million). If you can't find one buyer willing to pay less than 10 cents on the dollar for the park, they obviously don't think the park can be successful in Myrtle Beach. I think the break up and individual ride sale is iminent!

One of the interested parties in purchasing the whole park has withdrawn their bid to focus on other park purchase opportunities. I am beginning to believe the park is going to be sold in pieces.

I would give anyone a chance as long as they: 1.) Lowered the admission cost to at least $35. 2.) Added water and rides my 15 month old could enjoy 3.) Dont post operating hours one day and change them the next. Also, I think the park will go for more than the $35 million minimum. They park has a world class look to it and it has a great beginning so I can see it going for at least $50-$75 million maybe more.

Bingo! Cedar Fair is only interested in the B&M coaster and several of the flats, not the park as a whole. I heard their LZ bid was downright insulting!

One of the possible buyers of Hard Rock Park toured the grounds today. Oh, and it was NOT Cedar Fair

With the possible exception of that Premier wheel thingie, I'm certain you'll be able to claim all of the other credits elsewhere in the future. No chain should even think about buying that place to reopen in, unless they want to spend hundreds of millions more to actually attempt to make it a destination park. I think they can turn the place around for less than 20 million in cap ex along with lowering the gate to $29.95 and nixing the parking fees. Heck, they could buy all 30 of the rides for sale at Cypress Gardens and essentially double the amount of attractions and have millions left over to pump into the park.

I'm with Joey... No way, no how Cedar Fair put in a bid for HRP for that much without it leaking somewhere. I still think Blackstone is in the driver's seat on the purchase since they have backed off the Busch parks. One of Blackstone's subsidiaries is owed money from the park for work performed and I would bet the judge would easily approve the purchase.

I think alot of the reasons the management had so much faith in the park was the city of Myrtle Beach practically guaranteed success to lure them to build there. They basically told the financiers that the reason why the other venues failed in the area was due to lack of branding and capital infusion (new rides). I think the city used their tourism estimates and tax incentives to brainwash the HRP people into thinking Myrtle Beach was a good idea. Obviously, it was not a good idea. I expect Blackstone or someone else to come in and scoop up this place for pennies on the dollar. It might not be a wise decision, but there is a formula to help this park survive with much lower aspirations.

So I guess this attraction will have the "cool fire" effect that the Mummy has because of fire code?

When we did Discovery Cove a few years ago, we stayed until a couple of hours before SeaWorld closed. That way, we were able to eat both breakfast and lunch at Discovery Cove. Take advantage of the drinks, snacks, and awesome food as much as you can. Then, head over to SeaWorld (free if chosen with your discovery cove ticket) and get some coaster riding in.

I have no idea how they can get out of that mess From what I understand a majority of the vendors still havent filed their liens yet including B&M and vekoma. I would say the number is close to $450 million... NO WAY they reopen under current management. I bet won't be able to buy a styrofoam cup with any kind of credit. Perhaps Blackstone will scoop them up.

Speed is asta la vista baby...

They are MILLIONS in debt guys. They still owe Vekoma, B&M, Premier, and practically all of their supply vendors. It wouldn't shock me to see some of their attactions"disappear" when the manufacturer comes to repo making it more difficult on the park. If they do re-open, I am sure their suppliers will want all of their money up front before supplying the park goods. They can blame the economy all they want, but 80% of the problems were with mismanagement of the park in many ways. Perhaps Warren Buffett can bail them out like he did Goldman Sachs...

^^ It is indeed true. Premier has refused to help HRP since their payment is over 90 days past due. I think the fat lady is warming up!

Looks like the banks are now filing liens against the park for missed loan payments. I dont think the current ownership will make it through the winter. Hopefully someone will come in an bail them out.

Gotta pay off those liens somehow...

http://www.holidayworld.com/new2009.html

Perhaps this is the Vertigo Paula was referring to?

How about King Cobra's baby mama......She's back, and she's pissed off that her baby daddy was killed!

I can't help but to have flashbacks from last summer (Wild West World). Not paying vendors is a sure sign of problems.....

After observing the area in question via the Voyage lifthill, I would say the stakes are definitely for some sort of large building/structure... Perhaps Holiday World is building their own hotel? I hope so as some of the nearby hotels are flat out gouging their customers... (FYI, the Baymont Inn in Dale wanted $225 per night last weekend! That is utterly ridiculous!)

From a tourism perspective, I can see why they built in Myrtle Beach. The population of MB swells from ~25,000 to ~350,000 during the summer. The area sees over 10 million visitors per year which would provide an ample attendance base to hit 1.5-2 million visitors per year. I think the problem is, their focus was more on the "experience" rather than the attractions. I think its great they went to awesome detail on some of the area but when you cut out park staple attractions like water rides or a decent flat ride collection, it will hurt you in the end. I can guarantee that most of their visitors have been to Six Flags, Busch Gardens, or Paramount Parks and they will definitely see a difference in attractions REAL QUICK unless they address their deficiencies. Also, I dont know about most of you but the combination of the arrival of our daughter along with rising prices has SEVERELY cut our summer travel plans from 7 trips to 1 (Holiday World this weekend). I simply cannot afford the airfares into Myrtle Beach (utterly ridiculous!) along with hotel stays and $50/day tickets to HRP. I think many families that have the money to still visit the MB area will think twice about blowing $50/ticket when the money can be used on other activites they can do as a family that their kids will enjoy more. From looking at the photos, there is NOTHING my 9 month old daughter can do at HRP. But, there are things she can enjoy at Holiday World so it made our decision easier. I am sure their attendance numbers thusfar will help expose their issues and what they need to add to the park in the future which will help them in the long run. But, if they dont have multiple additions planned for the next 2-3 years, they might be in trouble!

I think part of the problem with the location is the difficulty to get to the Myrtle Beach area. Due to the "small town influence", interstate construction to the area hasn't advanced one bit. To get to the area, you have to drive through numerous small towns that rely on that traffic to survive financially. Amusement park attendance and revenue relies heavily on their interstate accessibility and I just don't see HRP really exploding attendance wise without an interstate nearby. If you think about it.. what successful amusement park is more than 30 miles from an interstate? When I mean successful, I mean attendance of at least 1 million per year. I bet you can count them on one hand... I really want this park to succeed to help prove the point that you don't have to be in Florida or SoCal to have a successful amusement park. But it seems that parks not in this area hit an attendance ceiling, especially in these tough economic times.

Wow.. I hope they have multiple attractions planned for next year or they might have some trouble staying afloat for more than 2 years. I still cannot believe they didn't put a true water ride in a park in South Carolina! July and August are going to be simply brutal with little or no shade. Perhaps they can rent a portable log flume to help ease some pain??? Its a pretty bad sign when your crowds on a Saturday in June are non-existant. My advice... get to the park as soon as possible!

Yeah, I should have come on stage and said thank you personally. My wife and I have a 6 month old daughter and Robb and Elissa were kind enough to take on an expanded role in this year's event since we were dealing with a little one. Needless to say our hands have been full with her! Again, thanks to Robb and Elissa for going the extra mile to make this year's event awesome. I have been talking to SFMM about expanding this event for several years now and it's refreshing to see management finally take to the idea and run with it. I think West Coast Bash is set to be "the must-attend" event in 2009! Chris