The Busch gardens site says it is closed for the remainder of 2013. Click the link. Look at the fun facts box. http://seaworldparks.com/en/buschgardens-williamsburg/Attractions/Rides/Europe-in-the-Air
Europe in the Air is Now Closed
- Thread starter Zachary
- Start date
Nobody wants reduced fat, you gotta get all that greasy yummy-ness, with that said I think BGW executives are in a tight squeeze and they need to settle their priorities. If they cut out let's say Illuminights for a season or two, they could say a lot of money, then with that saved money built up they can start a new summer event that is much better and the crisis is over!
Party Rocker said:
Yea, the IPO didn't really generate money for Seaworld, that money went mostly into the Blackstone coffers. They could release more shares later, but I'd think they wouldn't do this unless they saw enough demand so their current shareholders don't lose their investment. In a few months, any of the executives, who may have stock options now, can probably put some of their shares out there too.
I have never gotten to experience it, but they should have kept it open until Sept 2. I mean they didn't immediately close BBW, they let it have a few more good runs. Bad move on the park's part IMO. Maybe if they didn't waste their money on them fugly insects...
Party Rocker said:
Always what is seen, and never what is not seen.
Much like have empty stores sit empty in a shopping mall, having major attractions sit closed throughout the season (and closing them with no warning, to boot) is terrible for the public image of the park. Whatever you think you're saving in money you are destroying the public image of the place, which is more valuable than anything.
Party Rocker said:
The stock value is the perceived value of the company in the eyes of investors. The value determined on how many guests have gone through the gates, how much have guests spent in the parks, and what expenditures cost in total. The IPO largely saw the cash raked in go straight into Blackstone's pockets for their own projects. They can do that because THEY offered the company up to go public. With most every expenditure in SEAS parks since the buyout being done with borrowed money it has left SEAS with a large load of debt.
The issue that I see is the stock value is currently sitting with an inflated market cap. This is not a good thing because the market currently is holding the value of the company much higher than it is in reality.
When money is not being raked in and capacity days daily (I am in Florida but I hear attendance is light up there) then the revenue coming in just is not there. How can they help cover that fact up? Simple, cut offerings, maintain the same prices, and let the financial pain to shareholders be less. SeaWorld Orlando down here has taken some steps toward cost cutting, as well.
JewlzX2 said:
When you don't have the money, you don't have the money period. They had the funds to keep BBW going until HOS. Plus that was due to major maintenance issues that they could hold off on until that time. It was all carefully planned out.
This was not something caused from major maintenance issues, but more or less because they just don't have the money. I am sure this was one of their last options.
Dr. Julius Money Ed.D said:
Fun fact: Europe in the Air is only the big story to come out of the most recent round of cuts, but it's far from the only thing affected. It sounds like the operations budget has taken a pretty formidable hit overall.
pandorazboxx said:
Jumping 33% in its IPO debut is massive. It raked in a much larger portion than they had expected. There are high high hopes out there that are highly inflated.
I don't know that I'd consider it a "major" attraction. I mean, the ride sucked, nobody rode it... maybe they just eventually figured "what's the point?"
Well, it did suck, certainly...but still. I certainly got the impression that the park considered it a featured attraction.
Dr. Julius Money Ed.D said:
I think letting the Globe Theater just sit there empty is worse only because you have this massive in your face building with nothing. Where as this is more of a small in the corner thing that can be easily over looked.
But I totally understand your idea and point.
Party Rocker said:
It really isn't easily overlooked considering that it is the only ride in Irealnd. Soon enough, Irealnd is just going to be a pass through like England.
I don't get the doom and gloom from their first quarter reports. They lost $40M, but that's less than they lost last year. I guess we'll know more by the end of august. I think it honestly come down to the management in williamsburg.
http://articles.orlandosentinel.com/2013-05-22/news/os-seaworld-first-earnings-20130522_1_seaworld-orlando-12-percent-seaworld-president
http://articles.orlandosentinel.com/2013-05-22/news/os-seaworld-first-earnings-20130522_1_seaworld-orlando-12-percent-seaworld-president
I just wanted to see actually how bad the ride was. I saw members have a love/hate relationship with the attraction. Well, maybe, hopefully, something else will go in there, and try upgrade. Something 3D. I mean closing a ride doesn't mainly mean the park's in trouble. Maybe they "heard" how much all the members didn't like it, and are going to go with some ideas that's been thrown around. It's been said that they have taken ideas from here. I'm thinking positive here!!