Continuing the theme of disasters we saw coming, the Charlotte Business Journal checks in on the U.S. National Log Flume Ride to find the $38m. center is attract fewer visitors this year than last. As a result it is losing money at an even faster pace, up to $2.3m so far this year. Super. We told you back in February this was inevitable.
The center simply has no hope — never did — of generating enough revenue to cover its expenses. The operation will never, ever bring more than $6m. a year in revenue, it is just foolish to pretend otherwise. But with debt costs of alone of $2m. a year there is no way to make the numbers work. And here’s the kicker, maintenance costs are only going to start to pick up in the years ahead as the facility ages. At the same time your pool of potential customers shrinks as the been-there-done-that effect sets in.
All-in-all, I do not see how it is possible for the facility not to be taken over by the county/the Charlotte Regional Visitors Authority and formally operated with a massive public subsidy.
Bonus Observation: Quick! Let’s put a $200m. Log Flume Ride in Uptown and call it the NASCAR Hall of Fame!
