The Interpreter Posted February 17, 2009 Posted February 17, 2009 Perhaps something old IS new again. Tee hee, that'd throw them for a loop! Quote
The Interpreter Posted February 17, 2009 Posted February 17, 2009 Third group joins coaster ride to ownership at Hard Rock Park: ... "The process proposed by the sale motion has been completely unfair to other bidders interested in the assets, provides FPI with a complete and unfair advantage over all other parties, and most certainly will not maximize the recovery to the debtors' estates," the document filed Monday states. Coastal's offer is not contingent on financing, and the group can close the sale immediately if the court approves it, the document states. Plus, Coastal is not asking for the price to be discounted if the closing does not occur by Friday, as FPI is.... http://www.myrtlebeachonline.com/news/loca...ory/786777.html Quote
The Interpreter Posted February 17, 2009 Posted February 17, 2009 SOLD to FPI MB Entertainment: Wilmington, Del. | A judge has approved the sale of Hard Rock Park to FPI MB Entertainment for $25 million. The sale is scheduled to close no later than 5 p.m. Thursday, but could happen as early as Wednesday. Delaware bankruptcy court Judge Kevin Carey called the price adequate and the process rigorous. "Anyone who wanted the opportunity to bid had it," he said. FPI wants to keep the Hard Rock brand but has agreed to destroy any Hard Rock-branded merchandise before the park opens if there is no agreement on extending the license agreement, lawyers for the companies said in court. The judge overruled the objection of Coastal Entertainment, a company out of Finland that said it wanted to bid $25.5 million. Officials with legal and accounting firms involved in the case it would take at least 10 to 14 days for the company's funding to come through to the United States, and they could not confirm a claim by the company that it had wired in a down payment of $2.5 million. Carey said Coastal Entertainment came "to the court too little and too late." A lawyer for Coastal Entertainment, Karen Bifferato, said she believed her client's bid, given time, would have been the better offer.... http://www.myrtlebeachonline.com/679/story/787109.html Quote
RailRider Posted February 17, 2009 Posted February 17, 2009 I can't believe they want to keep the Hard Rock Theme... Quote
Avatar Posted February 17, 2009 Posted February 17, 2009 I am so happy to hear it was sold intact with plans to reopen, with that price hopefully the new owner can make a serious go at it. This is is a good day for amusement park enthusiasts. Quote
RailRider Posted February 17, 2009 Posted February 17, 2009 This is an even better for the Myrtle Beach Tourism Economy Quote
The Interpreter Posted February 17, 2009 Posted February 17, 2009 More: http://www.wect.com/Global/story.asp?S=9857250 Quote
RailRider Posted February 17, 2009 Posted February 17, 2009 FPI needs to start marketing and advertising the park yesterday. Quote
The Interpreter Posted February 17, 2009 Posted February 17, 2009 Well, that and hiring and figuring out how to run a seasonal theme park in the USA. They face many, many challenges. Quote
RailRider Posted February 17, 2009 Posted February 17, 2009 Very true, they have a lot of work to do and little time to do it, if they want to stick with their original reopening plans. Quote
Tomkatt7 Posted February 17, 2009 Posted February 17, 2009 I don't follow the industry as close as everyone else on here, so I have a question. Is this the same park that has been open for years just off the main strip? Close to one of the piers? Quote
The Interpreter Posted February 17, 2009 Posted February 17, 2009 No. It just opened last year, near the Broadway at the Beach site. Pavilion, the park of which you spake, closed before that. The two are not related. Family Kingdom, the park with the older wooden coaster, Swamp Fox, is still open. Quote
Tomkatt7 Posted February 17, 2009 Posted February 17, 2009 OK, thanks. We were at the other one in 97. Thats the last time I was in the area. I thought maybe the Hard Rock people bought it, and re-themed it. I do remember the little coaster that was there was pretty fun. Quote
Rollercoast19 Posted February 17, 2009 Posted February 17, 2009 To be more specific it is behind the old Waccamaw stores on U.S. 501. I too hope that they don't keep the Hard Rock theme. Quote
The Interpreter Posted February 17, 2009 Posted February 17, 2009 More on this: http://www.carolinalive.com/news/news_story.aspx?id=261404 Quote
Zorba Posted February 18, 2009 Posted February 18, 2009 To be more specific it is behind the old Waccamaw stores on U.S. 501. I too hope that they don't keep the Hard Rock theme. The Hard Rock theme seems like it costs a lot of money to keep around. I seriously doubt that it gives them more than 2.5M of "goodwill." Also IIRC the ticket cost was pretty high, especially for the number/quality of rides. Quote
The Interpreter Posted February 18, 2009 Posted February 18, 2009 Last year's season passes to be honored again this year. Also, the price of an annual pass will also be reduced from $150 to about $75. Baker said FPI MB would put $15 million into the park before fully reopening the venue for Memorial Day weekend. Improvements for this year include adding three or four children's rides and focusing on keeping the park's four roller coasters open. Breakdowns plagued some of the rides last year... Much, much more here: http://www.myrtlebeachonline.com/135/story/788679.html Quote
tigellinus Posted February 19, 2009 Posted February 19, 2009 ^^Already off to decent start in changing public perception in my mind! Quote
Zorba Posted February 19, 2009 Posted February 19, 2009 Well I think the park is in much better hands now. I wonder what kiddie ride they'll be adding. Quote
keiko_coaster Posted February 19, 2009 Posted February 19, 2009 hah I'll be there march 1. It needs to open fast LOL. Quote
The Interpreter Posted February 19, 2009 Posted February 19, 2009 IF then. There is much that must be done before the park can reopen. It is theoretically possible it could reopen that soon, but I would not be even a little bit surprised if it does not. Quote
Raptor66 Posted February 19, 2009 Posted February 19, 2009 This is great! Ill be able to visit when I go to Coastal Carolina University for orientation this summer. Quote
The Interpreter Posted February 19, 2009 Posted February 19, 2009 The only question is whether or not the park will be open when you visit. It probably will be. It may not. This is a business, and opening a dormant park can take a very long time. Sometimes a lot longer than the buyer thinks. Quote
tigellinus Posted February 19, 2009 Posted February 19, 2009 Remember...never doubt The Terpy!! Fourth of July is a possibility, I guess, but if it's not open by then, I could see it remaining closed until spring break time 2010. Quote
RailRider Posted February 19, 2009 Posted February 19, 2009 Will be very interesting to see what changes they make immediately to the park. Goodwill has already been created locally because FPI bought the property and they are honering seasson passes, although I doubt many were sold. Article from Forbes Looking for an admission price at $40 is still to high in my opinion. There isn't enough in the park to warrant that price, not yet and not after what the park has been through. Like I have seen in other articles I think the price needs to be around $30 to $35 for admission. Quote
tigellinus Posted February 19, 2009 Posted February 19, 2009 ^^Agreed...when Holiday World + water park is a better price with "free" parking and Pepsi, you know you're missing your price point!! Quote
RailRider Posted February 19, 2009 Posted February 19, 2009 ^ Exactly! Especially with the economy the way it is. Folks that will be going to Myrtle Beach this year are going to be on reduced budgets and they might already know about HRP and its history from last year. The park needs to greatly discount this seasson. Set your standad ticket price around $30 - $35 and then offer discounts through hoteliers, AAA, and other businesses in the area. The park does not have enough attractions or shows to justify a high admissions price and I doubt that changes between now and their slated opening day. Quote
The Interpreter Posted February 19, 2009 Posted February 19, 2009 And I, for one, think keeping the Hard Rock theming would be a serious mistake. I hope for the park's sake it doesn't happen. The place really needs to be marketed to a much broader demographic, and doesn't need the licensing expense, quite frankly. Quote
RailRider Posted February 19, 2009 Posted February 19, 2009 Agree! Myrtle Beach is a family destination and hot spot for retired folks and bus tours. The Hard Rock brand does not scream family fun nor pull those other demographics. I could see them keeping the music theme, but when you have a ride like Nights in White Satin you are not kidding anyone. I honestly could see HRP working if it became more of an Opryland or even DollyWood style park and based its shows and rides in that style. Look at the Carolina Opry in Myrtle Beach as the perfect example of what works and sells tickets in that market. Quote
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