SeaWorld San Diego abandons plans for hotel
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Nine months after signing a deal to bring a SeaWorld-branded hotel to the San Diego theme park, SeaWorld Entertainment Inc. has decided to abandon the effort at a cost of $2.8 million in expenses.
Read more from The San Diego Union Tribune.
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Someone finally explained to them that a hotel would already be there if the park could support one.
Read into this what you will, but;
1) focus is on short-term attendance building. (In other words, things with essentially immediate payback).
2) affordable Capital may be hard to obtain in the current market
3) Management focused on Short term improvements and facing a bad capital outlook are often things that are present in companies that are weighing sale options.
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