Sun Group, a property developer based in Da Nang City, Vietnam, is developing a multi-faceted tourism and themed leisure complex in Ha Long Bay, Vietnam. Sun Group contracted ITPS to provide theme park design concept planning, master planning, and schematic design services.
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. ITPS provided all design and master planning services for Hopi Hari. In addition, ITPS provided all design and master planning services for the $220 million USD facility, including concept design, site planning, land usage and design development.
ITPS directed the selection process for all of the attractions to be placed in the new project, including ride procurement, installation and commissioning.
Pre-Opening Operations Planning
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.
Pre-Opening Operations Planning
Operational / Maintenance / Safety Audits
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.
Concept / Design Review
Pre-Opening Operations Planning
ITPS was retained by Hersheypark to conduct ride opeations audits. Services provided by ITPS include three (3) in-depth audits over the course of the operating season, each of which require observation of the 70+ rides and attractions currently operating at Hersheypark.
Ride Operations Audits
Due to its underperformance in its initial season, was retained to provide a Due Diligence, Business/Operations Review and Strategic Recommendations Report for Hard Rock Park (“HRP”) in Myrtle Beach, South Carolina. The purpose of the Hard Rock Park Business Operations Review was to provide an assessment of the general operational approach taken by developers and operators of Hard Rock Park for the 2008 (initial) season. The strengths and weaknesses of the initial plan, as outlined in the original feasibility study (not conducted by ITPS), the market and site selection, and the overall operation of the park from marketing to expenses, were addressed.
ITPS also conducted a feasibility analysis for the park to show that the original feasiblity study was not valid.
Business Operations Review
ITPS was retained to provide a Due Diligence, Business/Operations Review and Strategic Recommendations Report for Hard Rock Park (“HRP”) in Myrtle Beach, South Carolina to review its first season. The purpose of the Hard Rock Park Business Operations Review is for ITPS to provide an assessment of the general operational approach taken by developers and operators of Hard Rock Park for the 2008 (initial) season.
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 that 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 improved efficiency, guest satisfaction and park performance. To help the park meet its goals, ITPS put into place an experienced General Manager for eight years to ensure that the operational action plan achieved the greatest possible results.
Design Review and Product Selection / Procurement
Operational Action Plan
ITPS was retained by the Doha Oasis Mall project developer to provide overall design services for an indoor theme park. The indoor theme park is planned to be a major anchor of the Doha Oasis Mall (also under development). The theme park will encompass approximately 30,000 square meters, offer more than 25 rides and attractions, retail shops, and dining options. ITPS provided concept design and master plan, schematic design, design development, and rides and attractions selection and procurement assistance (including the negotiation of pricing and coordination of all ride manufacturer purchase contracts and shipping schedules).
Concept Design / Master Plan
Rides and Attractions Selection / Procurement
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. 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.
Flexible Modular Training Program (FMTP)
General Park Operations
Due Diligence Assessment for Acquisition - Paramount Parks
Parques Reunidos is a major theme park operator, with over 72 attractions in almost a dozen countries. Annual attendance at its properties exceeds 27 million annually, with reported annual revenues of over $570 million USD. Established in Europe, Parques Reunidos expanded its presence in US amusement parks beginning in 2007 and continuing through today. ITPS has been the prime consultant for Parques Reunidos and has been responsible for the acquiring of more than 40 leisure properties. These transactions have resulted in approximately $700 million USD of capital transactions.
Acquisitions - ITPS Was Responsible for Over $800 Million USD transactions
Warner Communications, Inc. contracted ITPS to perform a "Due Diligence Assessment" of the Six Flags Corporation. This assessment included in-depth and on-site reviews of the assets and operations of each of the Six Flags’ parks. To be included were: 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 and Wild Animal Safari (Jackson, New Jersey) and Six Flags Over Georgia (Atlanta, Georgia).
Due Diligence Assessment
For Time Warner Acquisition
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. Conducting periodic operational, maintenance and safety audits, ITPS provides continuous feedback to park management about existing conditions at the facility.
Advise and consult on issues relating to marketing, operations, maintenance, safety, security, retail, financial and long-range planning including design related expansion
Operational, maintenance and safety audits
ITPS was contracted to examine Coney Island's current attraction mix in terms of appropriateness, balance, general appeal, and adherence to leisure industry trends as a foundation for future growth.
Attractions and Product Mix Review
Operating Characteristics Review
ITPS conducted a feasibility analysis to determine the economic viability of the planned Steel Pier expansion.
ITPS was retained by Kennywood, Inc. to develop a comprehensive design and masterplan for Lake Compounce (America’s oldest amusement park), to transform the park into a regional theme park with an historic theme. Incorporating Early American theming, a large water ride and a total of 27 other new rides/attractions were designed for implementation during the three phases of redevelopment.
Design and Masterplan
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 was 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.
Business / Operations Review
Property Sales Agent