Myrtle Beach Online has reported that there are now two potential buyers for the Myrtle Beach park. After only six months in operation, the $400 million park closed and is now receiving bids for only $25 million. The latest bid is from a group of investors, not a theme park operator like Cedar Fair or Six Flags. They have hopes of opening the park by Memorial Day. There’s still no official sale, but it looks like the park will have a new owner and will not be sold off piecemeal. Read the full story.
Hard Rock Park’s Bargain Basement Price
Even considering the Hard Rock Park’s failure, it’s a steal at $25 million. It’s amazing how the current state of the economy and amusement industry has affected the sale of this park. In a stronger economic climate this park would have been gobbled up much quicker and at a much higher price point. To put it in context, parks have paid $25 million for one large roller coaster. Paying that much for an entire park is insane. Of course after the sale, the new operators then have the obstacle of making the park successful in a down economy and in a location some argue can’t sustain such a large park.
What’s Your Take?
Are you happy to hear that Hard Rock Park may live on? Do you think the park can be successful after some re-tooling? Did you consider scrounging together $25 mill for a bid? Leave a comment below.