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[shavethewhales]

It's looking like another WWII era out there on the theme park front. Parks are closing right and left, new projects are dying, and the big chains are crashing.

Right now the entire Busch chain (Both Busch Gardens and the Sea World parks), WoF, and Valleyfair are up for grabs if anyone can make an offer that's half-way decent, and what's remaining of the Six Flags empire will soon be up for pennies on the dollar as well.

I think all in all, we can expect several more major players to bite the dust over the next few years: parks, chains, and manufacturers. The one bright side is that our beloved HFEC seems to be one of the few chains that is holding its head high throughout all this. The chain has kept pretty the spending pretty slim in the last few years, compared to other chains of similar magnitude. The chain has spent a lot on auxiliary attractions to its theme park chain such as aquariums and Ride the Ducks, but these attractions will serve to balance their income and provide assets to fall back on. The major expenditures on the theme park front have been MM and WA, and both those attractions are already proving their worth.

CC did close, but only to restructure itself. It was built mostly with the intent of keeping competitors away anyway.
We know SDC has kept its budget pretty tight for the past several years already, even though the parking lot situation got a bit more pricey than expected.

So what do you think? As other chains crumble, will HFEC evolve into the next major US theme park giant? I'll remind you that just a year or two ago, the chain made a serious bid on the SF properties that PARC bought, but stepped out of the deal when SF insisted that they buy MM with the rest of the package.

[Swoosh]

Honestly I see PARC being the next big player.
I don't look for HFEC to be expanding any time soon.

However, if they bought WOF it would be a smart investment in my mind as KC is becoming a hotspot anymore -- with Schlitterbahn opening and a Hard Rock Casino going to Speedway area, Village West is the new "IT" and with WOF in the area, you know they'll get some residual visitors due to the attention that KCK is getting

[Joy]

People keep telling me they think Disney should buy WoF... I'm crossing my fingers for HFEC.

Joy

[Zephon]

In orientation the other day, HFEC CEO Joel Mamby told us that the state of the company was strong, but because we were not over-extended.  Profits were not what they wished they had been last year, but we did make a profit.  A lot of hard decisions were made to ensure the viability of the company, including closing CC (which was not profitable), putting salary increases and bonuses on hold for all employees, all people in management took pay cuts, and capital expenditures were put on hold (such as the new ride at SDC).  The idea at this time is to try and stay in a position in which their debt could be paid off in 3 or 4 years. 

Also, by doing these things, they were able to avoid laying off a significant number of people.  He explained that in hard times, for many other companies, it's all about the numbers.  If the profit margin is not there, their solution is massive layoffs, ie, the major motor companies and numerous others.  We are fortunate to work at a company that considers it's employees valuable enough to be willing to relax expectations as to the numbers.

There is no plan to do anything with CC within the foreseeable future, probably not 3 or 4 years.  The aquariums are proving to be profitable and were picked up very cheaply.  They may try to acquire several more in the next few years, or if not, dump them for a considerable profit.

And for those of you who have expressed interest, they are planning for the 50th anniversary for SDC and the 25th for DW next year.  No clue yet as to what form those plans will take.   

[History Buff]

Thanks, Zephon.

I hope the 50th is just going to be a banner at the entrance, but an actual trip into nostalgia.  I wouldn't even mind turning the FM into a floating SDC History museum, sans shootout.

[sdcforever]

^^Zephon, what about the 30th anniversary of White Water Branson in 2010?

[shavethewhales]

Sounds like CF is truly intent on trying to sell WOF and VF, what with having hired Meryll Lynch (sp?) to track down potential buyers.

I'm positive HFEC will put in a bid, but will it be for WOF, or VF, or both? I'm kinda hoping they buy up VF and don't open up another can of worms with WOF. Then again, WOF would only be better off with HFEC, and it would give them market dominance over the region, but I'm just worried about the sacrifices that would be made for both parks in order to keep competition down. There'd be less major thrill rides installed per year at both parks than otherwise, I'm sure.

VF would be a great addition to the chain, flat out. I'd love to see the place given a real theme and a more wholesome atmosphere, and maybe a B&M on the side.

[sdcforever]

^I can see your reasoning behind staying away from WOF.  I'd like to see them make a bid for VF as well.  Any idea when offers will be made?

[Swoosh]

I still see PARC as the chain that buys Worlds of Fun and Valleyfair

[crsjrr]

Great discussion. In my opinion WOF hasn't been the same since the Hunt family sold it.  There have been major rides added, but I always felt that WOF was usually an after thought when it came to funding and park improvements.  In some ways it would be great to see it become apart of HFEC.  Having a financial interest in the KC market makes a lot of sense.  WOF is a KC treasure that would benefit from a company like HFEC.   Just my 2 cents.

Is there a history between these two, and was this attempted before?

[Swoosh]

OR we could have a case where they (HFEC) eliminate the competition.

[themeparkguy]

When a major chain stops all capital improvements citing European markets and attendance downturn- I do not believe buying an entire theme park will fly when they cannot afford six million for river battle. I agree it would benefit all for HFE to become a more major player, but I for one would not be happy when SDC gets little love for the last two years CC is closed but a new park is purchased.