The owners and operators of Playcenter contracted ITPS to conduct a feasibility analysis with regard to moving portions of the existing Playcenter to a new location outside the city. Additional plans for this location, known as Hopi Hari, include a major wooden roller coaster, a shuttle loop coaster, a river rapids ride, a waterpark, hotels, restaurants and retail shopping.Using the historical operations at the existing Playcenter, as well as the new supportable market,
ITPS provided attendance and financial projections for Hopi Hari. In addition, ITPS provided all design and master planning services for the new Hopi Hari, including site plans and concept renderings. ITPS oversaw the construction and ride installation at the new site through the on-site placement of an ITPS Vice President. ITPS also provided on-site management services during the opening of the park.
The Enchanted Kingdom was the first true theme park to be developed in Manila, Philippines. Amtrust Holdings, Inc., developers of the project, retained ITPS to provide all pre-opening operations planning and ongoing management. Areas of service included equipment procurement, manual development, maintenance, safety, park operations, marketing, retail, and administration. For the ongoing management of the Enchanted Kingdom, ITPS recruited, hired, trained and placed an on-site Vice President of Maintenance and Safety for three (3) years in order to provide both construction liaison and oversee the day-to-day implementation of all maintenance and safety programs.
ITPS also provided on-going consultation to the Enchanted Kingdom in all operational areas. As part of these services, ITPS performed maintenance and safety audits in order to ensure that the facility continues to function with the highest levels of safety and guest service.
ITPS was contracted to perform a feasibility analysis on developing an 18 acre theme park just outside of Cebu, Philippines.
The study considered expected attendance, anticipated revenues, probable operating expense and projected cash flows - all based upon the supportable market and capacity available at the site.
ITPS also presented the findings of the feasibility in a multimedia presentation to potential investors in the project.
Lotte World is Seoul's largest theme park consisting of a major indoor/outdoor theme park complex with a contiguous retail shopping mall, two department stores and a hotel. Featured in the project is a full-scale ice skating rink, along with a variety of entertainment and attractions. Opened in the summer of 1989, Lotte World is now the world's largest entertainment complex with over 6.5 million square feet. At last count, the project's total cost was $1.3 billion USD.
ITPS became involved with Lotte World from the very beginning working closely with the Lotte team (Chairman Kyuk-Ho Shin) through the concept/design, construction, pre-opening and daily operations and management of the project. ITPS was named the Operational Planner for the project as well as providing on-site ITPS personnel to train and oversee the day-to-day operations.
Also, two Flexible Modular Training Programs were conducted by ITPS at a major US theme park to train Lotte World's key management staff in all areas of theme park operations and management.
Haw Par Villa is a marvelous array of figures, dioramas and exhibits rooted in Chinese and oriental religious and mythological motifs. The park was founded in 1937, and is referred to in one guidebook as a "Confucian Disneyland." The park has a special appeal to Singaporeans and to tourists from all over the world with some estimated 1.2 million visitors per year.
ITPS was asked to assist in the revitalization and expansion of Haw Par Villa, recommending and consulting in the areas of new attractions, both in the existing complex and development of the shoreline wharf area. With the assistance of ITPS, this revitalization will restore the park to its original splendor. Also, ITPS conducted its Flexible Modular Training Program ("FMTP") for key management staff at a major US theme park, educating them in all facets of theme park operations from behind-the-scenes administration to actual hands-on experience. Assistance, recommendations and direction from ITPS to Haw Par Villa included, but was not limited to, general park operations, safety and security, general services, financial pro formas/staffing levels, food and beverage, merchandise and games, entertainment, sponsor-ship, attendance projections and capital requirements.
ITPS also assisted in the development of a business audit of Haw Par Villa. This report, completed during an on-site evaluation, included an analysis of the operation in terms of product, market and operations. Also included were recommended solutions, both short and intermediate-term, as well as an implementation program which prioritized the recommendations for improvement.
Beijing Amusement Park is a 100-acre traditional amusement park located in Beijing, People's Republic of China. Operated as a Sino-Japanese joint venture, the park opened in 1987 and experienced severe financial shortfalls in the first two years of operation.ITPS was contracted by Kumagai Gumi Co., Ltd. (the major park investor) to consult with Price Waterhouse/Hong Kong/Beijing in order to provide short-range analyses and recommendations to halt the erosion of profits. ITPS provided a short-term plan which addressed the overall operational and financial goals of the park. ITPS also conducted an on-site analysis which lead to the development of an operational action plan addressing specific techniques which would greatly improve efficiency, guest satisfaction and park performance. To help the park meet its goals, ITPS put into place an experienced General Manager for eight (8) years to ensure that the operational action plan achieved the greatest possible results.
ITPS was retained by SouthTrust Bank of Birmingham, Alabama to conduct a valuation of the existing Jazzland Theme Park (New Orleans, Louisiana) operation. The purpose of this assignment was to provide an independent valuation of Jazzland based on the following approaches: fair market value based on capitalized financial performance; and, fair market value and liquidation value based on equipment and property assets, both real and personal property. In preparing this valuation, ITPS conducted an on-site inspection and review of the Jazzland Theme Park property and operation in 2002.
ITPS was retained by SunTrust Bank (as Trustee for the West Jefferson Amusement and Public Park Authority), to conduct a Business/Operations Review of the VisionLand operation in Bessemer, Alabama. The purpose of this review was to provide an examination of the overall business and operations at VisionLand, leading to any necessary recommended program changes that could potentially improve efficiency, productivity, service, and profitability.
ITPS also conducted a property valuation of VisionLand. The purpose of this valuation is to provide an independent assessment of the value of VisionLand based on the following approaches: fair market value based on capitalized financial performance, and, fair market value, replacement value, and liquidation value based on equipment and property assets, both real and personal property. ITPS was also retained as sales agent to offer VisionLand for sale.
ITPS was retained by Kennywood, Inc. to develop a master plan for Lake Compounce that will transform the park into a regional theme park with a historic theme. Early American theming, a large water ride and 27 other new rides and attractions are all planned for the three phases of redevelopment.
As America's first major seasonal theme park which opened in 1961, Six Flags Over Texas entertains 2.6-3.0 million visitors per year and enjoys a full compliment of rides, shows and attractions. ITPS assisted Six Flags in the development and implementation of their first winter operation program, "Holiday In The Park." This included conceptualizing, designing and operational and financial planning, as well as directing the marketing and public relations programs to ensure a successful first and subsequent years operation.
The Pacifico National Trade Fair contracted ITPS to conduct a feasibility analysis regarding a potential new theme park to be located in Lima, Peru. The new theme park, planned to include a quality mix of rides, attractions and entertainment, would be located on the grounds of the existing trade fair. The feasibility analysis focused on a review of the market, the site and the concept, after which attendance and financial projections were made in order to determine the viability of project development.
Chapultepec Magico is the largest theme/amusement park in Mexico City, located in the city's center. In a renovation plan recently completed, over 25 major rides and attractions were added to the park.
ITPS was contracted to advise and consult on issues relating to marketing, operations, maintenance, safety, security, retail, financial and long-range planning including design related expansion. ITPS also provides safety and operational audits for the park.
The Tianjin Amusement Park is a traditional Chinese amusement park that is located on 135 acres and includes a hotel, science center, tennis courts and waterpark.
ITPS was contracted with the Tianjin Amusement Park to develop a master plan design concept for their existing amusement park. The goal of ITPS was to bring the existing park to a new level of international theme park status, as well as establish it as a year-round facility. The modern, world-class theme park would contain six themed areas, new rides and attractions, observation tower, resort, museum, expanded waterpark and a monorail system throughout the park.
Wonderworld Theme Park Ltd., a Cyprus corporation has contracted International Theme Park Services, Inc. to provide the following services: Concept and Design, Pre-Opening Operations Services, Corporate Sponsorship Acquisition, and On-Site Management.
The Republica de los Ninos is a well known park that has been operating as a cultural and historical facility for the children of Argentina for many years. ITPS was asked to conduct a financial feasibility for the existing park, as well as to recommend a concept for the facility so that it would appeal to everyone - children, adults and families.
ITPS' goal was to compliment the existing facility, while at the same time creating a true themed attraction environment, thus offering high quality entertainment value. Attendance and financial projections were provided, as well as a new concept for the new park.
Reino Aventura Park is a 113 acre park located in Mexico City. It has been in existence since 1982 and has an average annual attendance of 1.5 million. In an effort to enhance its operation and provide long-term profitability for the park, the owners of Reino Aventura Park asked ITPS to provide services relating to the overall rehabilitation program necessary for success.
For the first phase of service, ITPS was contracted to conduct an on-site business audit which included a detailed inspection of the park, as well as an evaluation of operating performance relating to attendance and revenue generation, expense history, management philosophy, park image and product mix. ITPS was also asked to conduct a review of the master plan, evaluate the site conditions for main entrance ingress and egress, and provide consultation and assistance in the general layout of a major new ride planned for installation. Finally, ITPS was asked to review the required investment for the rehabilitation program of Reino Aventura Park to include attendance and revenue projections, a capital investment program and a cash flow pro forma.
Subsequent phases of service included refinement and/or development of the maintenance program, operations program and safety program. Other services included assistance in the development of a marketing plan and a review of the park's overall product and programmatic strategies.
Warner Communications, Inc., the entertainment arm of Time Warner, Inc., completed a major stock purchase into the Six Flags Corporation, a premier amusement/theme park operator in the leisure industry. Prior to their final decision as to the viability of such a purchase, Warner Communications, Inc. requested that an analytical assessment of the Six Flags system be conducted by a highly respected, professional leisure firm.
To that end, Warner Communications, Inc. contracted ITPS to perform a "Due Diligence Assessment" of the Six Flags Corporation. This assignment included in-depth and on-site reviews of the assets and operations of each Six Flags park to include Six Flags Magic Mountain (Valencia, California), AstroWorld (Houston, Texas), Six Flags Over Texas (Arlington, Texas), Six Flags Over Mid-America (Eureka, Missouri), Six Flags Great America (Gurnee, Illinois), Six Flags Great Adventure (Jackson, New Jersey) and Six Flags Over Georgia (Atlanta, Georgia).
Concentrating on areas such as capital expenditure programs, long-range plans, operating history, asset maintenance, ride operations, safety, ride maintenance, retail operations, admissions policies, attendance trends, financial projections and capacity characteristics, ITPS developed an executive summary for Warner Communications, Inc., which led to the decision to finalize the initial $30 million stock purchase of the Six Flags Corporation.
ITPS worked with ESTA S.A. Terra Encantada in Brazil. The 45 acre theme park opened in January 1998. With this development, the Rio de Janeiro market was introduced to a more sophisticated level of entertainment, rides, and attractions, including steel roller coasters and the latest water rides. The park's state-of-the-art attractions are based on aspects of Brazilian culture and history, narrating the country's origin, nature and folklore.
As part of the pre-opening operations planning, ITPS conducted an extensive management training program on-site. This program introduced the managers and supervisors of the project to basic theme park operations. ITPS training team members returned to Rio prior to park opening to conduct training for all line personnel in both general and specific areas of park operations. This training provided the park's line personnel with the knowledge they needed to successfully welcome their guests.
ITPS also provided full-time, on-site management during the entire pre-opening process, from the construction phase, through the establishment of park operations and into the first eight (8) months of actual daily park management.
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