The Inside Story of the Most Expensive Theme Park Ever Built

Won here. I had always wanted to learn about Sanrio Puroland, an indoor theme park in Tokyo opened in 1990. In recent years multiple Hello Kitty theme parks, cafes, and other branded attractions have opened. But Puroland was the first. The attraction has always loomed large in my imagination. It was built during Japan’s boom […]

Ever Glorious, Ever Ambitious, Ever Grand

At its height, Evergrande Group was the largest real estate developer in the world, with contracted sales amounting to more than 700 billion RMB (~$100 billion) in 2020, and a billion square feet under construction at nearly 800 projects around China. Appropriately for its ambitions, Evergrande was also in the stages of building theme parks […]

The Japanese Theme Park Bubble

Japan in the 1980s was a legendary time. The country experienced a stock market and property boom the likes of which has never been duplicated.  The Nikkei stock index hit a peak of over 37,000 in 1989 and a trailing P/E ratio of 60x.  It was an explosive boom, followed by a long bust: 30 […]

The Attraction Resort Model, Part I: How a Waterpark Hotel Works

In this series, we’ll examine the business model of attraction or theme park resorts. These resorts work, simply, by the attraction raising the value of the land uses around them. In this post, we examine the business model of a waterpark hotel and propose a framework for decision-making.  And although this is mostly about waterpark hotels, the […]

Case Study: Panama Adventure Park

Project Location: Panama Project Type: Adventure Park, Resort Waterpark Client: Isthmians Development Advisers/NSB Caribe Scope of Work: Executive Brief   It’s an understatement to say that we’re living in unprecedented times.  With the pandemic shutting down the entire leisure and hospitality industry, it’s the unfortunate reality that we’ll be seeing the cash crunch and liquidity problems that shut down […]