Theme Park coming to Williams (Phoenix, Tucson: house, school, closing)

[azmike1]

Land is only worth what someone is willing to pay for it! Values go up. Sell if you can. Values go down. Sell if you want. Speculation has its risks.

[silvermountain]

Just seems to me like there are too many better places to go for people heading to the Grand Canyon. The potential customers are going to come from California and the mid west where there are already a number of better theme parks. Las Vegas is a bigger entertainment draw all of the time. Heck, even Utah has Lagoon. I can see a very small park near Williams succeeding; filling the void left by Young's Farm. But I should admit my bias that I wouldn't want to see the area grow very large. I understand the population boom in nearby areas (Vegas & Phoenix) might make it more economically viable. I guess I'll believe it when I see it.

[Magnum Mike]

I'm not a big fan of theme parks because they're rip-offs. I was at Sea World a couple of weeks ago and if you've been there, you know what I'm talking about. The only reason I went was because I was invited, otherwise I wouldn't have paid $55, plus $10 to park to waste a half a day over there.

I wonder how Williams residents feel about that? Theme parks don't belong in Arizona because it's too hot in the summer in the desert elevations for people to spend a few hours outside, and it's too cold in the Williams area from October until the middle of April, so the theme park might be closed in the fall, winter and early spring months.

Keep theme parks where they belong, in California.

[exlexisnexis]

The problem is many people go to North AZ to see the Grand Canyon with a big wad of cash,after they see the Grand Canyon 2-4 hours tops there is nothing left to do in North Az,so they drive to Vegas and blow their cash.
If North Az had a bit more to offer folks might stick around a day or 2 and blow some cash which would be good for the area and the state and the people.

Richard

[dshimel]

Theme parks cost close to $1 billion to build.

Sure, one like Castles and Coasters can be built for $100 million or so, but that is a minature golf place in a mall parking lot, that happens to have a couple lame coasters.

Let's assume we're talking a real theme park with a real coaster or two... Say, California Adventure type, which despite being mostly off the shelf rides cost Disney $1 billion. A park like that needs 7 million people a year spending $50 a person each.... $350 million gross at 20% margain = $70 million operating income. $1 billion debt at 7% = $70 million. You're just barely breaking even.

And how do you get 7 million people a year visiting a park with 3-4 good rides, a coupe shows and half a dozen fairly weak attractions, plus a kid play land? You put it in a city that has 5 million plus people.

Six Flags was losing money in New Orleans. They were losing money in Oklahoma City. They were losing money in Denver. They were losing money in Houston... well, really it was just that the land was worth more than the park in Houston..

No way can you make money in an area with a few thousand perminant residents.

Okay, grand canyon is said to pull 5 million visitors. Let's say half of those go to your park for $50 each (I think that is a way high estimate). 2.5x $50 = $125 million annual gross. 20% margain = $25 million operating income, max. So you get, what, $300 million to buy the land, put in roads and parking, build the infrastructure, and build your park, max.

For that amount of money, you're getting a carnival, not a theme park.

[exlexisnexis]

you need to look at the big picture,they will not only pay money to the theme park but to area restaurants,shops,motels, and hopefully there will be other businesses will sprout out from the Theme Park that will provide additional jobs and revenue for the county and the state.

[dshimel]

Originally Posted by exlexisnexis

you need to look at the big picture,they will not only pay money to the theme park but to area restaurants,shops,motels, and hopefully there will be other businesses will sprout out from the Theme Park that will provide additional jobs and revenue for the county and the state.

But the company opening the theme park doesn't get that revenue. No company is going to open a theme park if they don't have a decent shot at huge profits. (for themselves, not a hotel or restaurant across the street).


Denver, with 2 million residents and 10 million annual visitors can't support a decent theme park, which is why Six Flags just sold off Elitch Gardens.

How is Williams, with 3,000 residents and half as many visitors, going to support one?

[Gretchen B]

Originally Posted by dshimel

But the company opening the theme park doesn't get that revenue. No company is going to open a theme park if they don't have a decent shot at huge profits. (for themselves, not a hotel or restaurant across the street).


Denver, with 2 million residents and 10 million annual visitors can't support a decent theme park, which is why Six Flags just sold off Elitch Gardens.

How is Williams, with 3,000 residents and half as many visitors, going to support one?

I hadn't heard about Elitches being sold. I was so disappointed when they closed the old Elitch Gardens. That was a beautiful park. My mom would tell me about the dances they had in the pavillion back in the 50's with the Big Bands playing. The grounds were beautiful with all the flowers, etc. And it had that nice old wooden rollercoaster.

Elitches was always seasonal due to the Denver weather. Wouldn't a theme park in Williams be seasonal as well? Doesn't Williams get a fair amount of cold and snow in the winter?

[exlexisnexis]

Denver, with 2 million residents and 10 million annual visitors can't support a decent theme park, which is why Six Flags just sold off Elitch Gardens.

How is Williams, with 3,000 residents and half as many visitors, going to

support one?

Thier are millions of people who visit the grand Canyon and the new Skywalk even if only a fraction visit the Theme Park it would do fine.

[LBear]

There are those residents who have land in Williams and the surrounding areas that are BEGGING and HOPING for that theme park so that they have a chance for some real estate increases.

There are those that oppose it also. In the end, it will be up to the developers/investors to see if their investment will generate the cash the need/want. If the numbers don't sound right, the theme park will be a wash. Until the groundbreaking starts, this deal CAN fall thru. I've seen deals go all the way to the closing table and the investors walk. Even after spending thousands of dollars on plans and research. For them, it is better to lose 1 million, then lose $500 million.