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BREAKING: Hard Rock Park Bankrupt: Files Chapter 7

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  • I am still amazed at how poorly HRP was launched, opperated, and marketed. The business plan was either poorly done, poorly followed or just completely wrong... I lean towards all 3. Should be inte

  • I feel more sorry for the folks who took a chance and moved there to persue a Full Time Job at the park. I know more than one who left Kings Island, good people, who thought they were making a good

  • Yeah, I remember someone posting on PointBuzz last winter trying to recruit CP employees (the seasonals) to HRP by saying the dress code allowed for anything you wanted, the management style would be

  • Author

A WEE bit more, including this line:

...Attorneys say they want to secure a buyer for the park so it can open on time for the 2009 season....

And probably best preserve value for the creditors by protecting the land and equipment's highest and best use and thus highest value.

http://www.thestate.com/statewire/story/631063.html

  • Author

An interesting analysis of what went wrong at Hard Rock Park appears in this article about a proposed Arizona rock and roll theme park:

...A park nearly identical to Eloy's proposed Decades park was opening in Myrtle Beach, S.C. Called Hard Rock Park, the East Coast version looked pretty much the same as what was proposed for Eloy — except that Hard Rock Park actually had more going for it.

It was located in a well-established tourist destination and benefited from a more recognizable name (part of an agreement with Hard Rock Cafe).

But that park, often used by the Arizona theme- park folks as an example of why the idea would work well here, was troubled even before opening day.

Strapped for cash, developers delayed the opening and turned to junk bonds to bring in revenue. With little money left, the management didn't do much advertising.

As the economy soured and gasoline prices rose, ticket sales dropped week-to-week.

By September, Hard Rock Park had filed for bankruptcy and closed its doors. ...

http://www.azstarnet.com/metro/273303

And that same article says:

Hard Rock Park may reopen. It was sold at an auction in New York City early this month. But the most generous estimates put that reopening date at 2010.

If only that were true, we might yet get a chance to actually visit HRP...

  • Author

I was waiting for someone to pick up on that. I strongly suspect the article was actually written before the auction, and that the author knew he was perfectly safe saying the park sold...after all, the minimum price was only $35 million, and yet there were no buyers...

Also interesting is that Parc managment if they were to arrange a purchase would not reopen HRP till 2010. Still no purchase, buyers or arrangements are made.
the minimum price was only $35 million

$35 Million? Diamondback is only $22 Million, and that's just one coaster!

  • Author

Diamondback was contracted for before the current economic collapse. Whether or not it would be under current circumstances is highly questionable.

Diamondback was contracted for before the current economic collapse. Whether or not it would be under current circumstances is highly questionable.

How do you explain Carowind's 2010 B&M hyper, White Lightning, then?? :huh:

^^Heh....well, admittedly my only quabble is jealousy if WL ends up having better stats (like a much higher drop or something) than D-back! But I guess jealousy is a Deadly Sin, afterall.

Holiday World, are you listening!?! A B&M twister-hyper for only $2 million! ^_^

That ride will not just cost 2 Million dollars. The cost to dismantle, and relocate, in fact just the shipping costs will greatly exceed that figure that you list, in all likelihood!

Just wanted to post this link to Myrtle Beach Online, they have a database of various articles regarding HRP and the current bankruptcy happenings, but whats even cooler is the searchable database of folks they owe money too, who more thank likely will never get paid, espcially if it goes to CH. 7.

MB Online

  • Author

Fiasco Prevention:

http://www.myrtlebeachonline.com/opinion/story/735059.html

...the theme park's collapse has left the Grand Strand, the finest large-scale seaside resort on the East Coast, with a black eye and a 55-acre hulk whose chances of salvage seem nonexistent. Unless some capable company swoops in to repurpose the facility as a garden-variety theme park, our communities will be left with an enduring monument to insufficiently skeptical public-side development planning and approval....(emphasis in the original)

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