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Terra Mítica is up for sale

M

marc

CF Legend
Found this on Screamscape.

The loss-making Benidorm theme park has seen a recent recovery in cash flow

The Terra Mítica theme park in Benidorm is up for sale with the main shareholders in talks to sell either their shares or the running of the park.

Those shareholders are the Caja Mediterrándeo CAM, Bancaja and Sociedad Proyectos Temáticos, and any deal reached could be joined in with by smaller shareholders.

Chairman of Terra Mítica, David Lladró, told a shareholders’ meeting that they had assembled 84.31% of the capital for the sale.

The EBITA for the park increased by 50% last year despite the recession, but losses after tax were still 16.4 million €.

The Chairman said that are three leisure groups reportedly interested in making a purchase, but he declined to name them at this stage

Read more: http://www.typicallyspanish.com/news/pu ... z0sWXNlWI9

Will be interesting to see who buys the park, it is somewhere I wanted to go. Yet again it sounds like another park that has been hit by lack of people going to Spain for holidays.
 
Indeed Brad.

My biggest issue of the park was that all the rides LOOKED brilliant but upon riding they weren't all that. Even the flat rides were a bit meh. Which was a shame.

I wouldn't be surprised if Merlin are one of them three but then sense makes me think about WHY they would want it. I am not so sure they would. Especially if it is going through such tough times. Then again, they took on a bankrupt park in Florida so who knows.

It depends on whether they think a theme park near Benidorm (that is where it is yeah?) is still viable.

Thanks for posting Marc.
 
I agree I could see Merlin being interested in this.

Merlin could also use the Legoland franchise, something along the lines of Legoland Meditteranea is bound to be more popular and create higher gate figures.

Also if Earnings are up 50% it can be assumed that this was due to the Intamin 4D that they added, which means with ride additions and marketing the park can increase earnings quite substantially which has to look attractive to a potential buyer.

I've never been to the park myself but I have always wanted to and it will be interesting to see who purchases the park, I would quite like to know who the three groups are as there aren't that many theme park operators in Europe. It could even be Six Flags wanting to come back into the European theme park market, although I doubt it.
 
Mark said:
It depends on whether they think a theme park near Benidorm (that is where it is yeah?) is still viable.
Click to expand...

This. Same thing as to my theory why gate figures are dropping at PA. Cheapo sun sea and sangria holidays just aren't as popular as they once were, so the market for theme park visitors is declining.

As per usual, I would lke to go before it all gets ripped out... need the credz! ;)
 
I don't really think they're declining, I just think holiday resorts get popular by tourists, get destroyed by tourists, then move onto other resorts to destroy.

In the '90s Salou was a hot spot, how many people do you hear going to Salou now? And Benidorm for that matter, in fact if people were going there, they'd be kind of embarassed to admit it.

Theme parks built near tourist hot spots abroad are a bad idea as it won't stay a hot spot for long.
 
Terra Mitica is a pretty good park and brilliant views up the mountain, just pretty bad looking onto Benidorm!
I dont think it would be a great place to make a Legoland
There are too many bigger rides there already and to be honest, i would like those to stay, especially the woodie down the mountain
 
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