Another casualty of the economy - Hard Rock Park up for sale.

[Skip Intro]

I got to go a couple of months ago. It wasn't Disney or even Busch Gardens, but it was fun.

I know this is nothing compared to people losing their homes or going without medical care for lack of money, or a hard worker finding that his/her security of employment has vanished - nothing like GM on the verge of shutting down, but it is another sign of the nosedive this economy is in, mismanagement aside. Attendance at even the top theme parks is way down this year. This one, brand new, didn't survive. Final word on it is that if there is a buyer by year-end, it will re-open next year. If not...?


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Hard Rock Park sets floor at $35 million
Theme attraction's future unsure as bids are invited

http://www.myrtlebeachonline.com/news/local/story/670998.html


Got $3.5 million?

That's enough for a minimum down payment on the $400 million Hard Rock Park, which will go up for auction on Dec. 15, according to court documents filed this week.

...

When the park off U.S. 501 opened its gates April 15, it boasted partnerships with bands such as Led Zeppelin and The Eagles. Local businesses hoped the theme park - hailed as the largest investment to date in South Carolina's tourism industry - would help catapult Myrtle Beach into the next strata of vacation destinations.

But the park failed to reach its target of 3 million visitors in its first year, and it filed for Chapter 11 bankruptcy protection in late September.

The park cited "macroeconomic conditions that significantly depressed overall demand in the travel and leisure industry" and a lack of cash to advertise.

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[mth44sc]

1. for whatever reason

this one was a failure from day one...

[Greg K]

2. yep

It probably would have failed in a GOOD economy.

[Lint Head]

3. They did not promote it correctly. I read in a financial article

that said the investors thought that vacationers, traveling to Myrtle Beach, would notice it was there from local tourist ads.
There was not a single national or regional commercial buy to advertise the parks existence. That would have brought in people that usually do not go to Myrtle Beach. Vacationers that go to Myrtle go there for the beach and golf not a theme park. Disney and Busch Gardens are more than 60 miles from any beach.
:dem: