The Future of PortAventura

[Nico]

Just a general reminder, the ignore function exists.

 

[Ryan]

Just a general reminder, the ignore function exists.

I just... I need an explanation.

 

[AlexanderMBush]

Seems a bit strange to have a possible Universal Park in the UK being planned for a year and the only proof available is the NVUL name, which doesn't even confirm that it's called or have anything to do with London... I'm sorry but I'm super skeptical about any of this being remotely real...

I'm not saying it can't be true, but according to the info you've provided (or the lack of) and the certainty that this is definitely happening, similarly to @tommyhawkins, just isn't enough to speculate that much. Is there any other type of information or proof that you can share?

There is the element of the land purchasing, which while we do not have a distinct location is known (and is something that others like @Alicia was seemingly waiting on) is something to consider.

 

[Dan Cooper]

I just... I need an explanation.

In the spanish community, Universal is a she. Also known by her street name "La Nena". She's an icon, she's the moment.

 

[Dalt Wisney]

There is the element of the land purchasing, which while we do not have a distinct location is known (and is something that others like @Alicia was seemingly waiting on) is something to consider.

Yes that's the other half of the basis for the UK Park rumour. Land that could've been bought in any of the four corners of the world! I would think that they spent those several millions in parts around several of their resorts... Just seems so strange and out of place. For all I know, they could've bought the land that was reportedly for sale under PortAventura today, though I do think that's a fabricated story by them.

 

[Gartooth]

This thread has gone places.

So uh, sounds like things are piling up that this isn't happening then going by that article about PortAventura selling their land and not the resort.

 

[Ryan]

In the spanish community, Universal is a she. Also known by her street name "La Nena". She's an icon, she's the moment.

Well, that's certainly an explanation. Not sure why you posted it exactly, but... yeah.

 

[UER]

There is the element of the land purchasing

I knew the Comcast crane and excavators in my backyard were up to something

 

[Scott W.]

This thread has gone places.

So uh, sounds like things are piling up that this isn't happening then going by that article about PortAventura selling their land and not the resort.

Seems like Universal have moved their interest elsewhere.

As the old saying goes.

You can't polish a turd.

 

[Calmix]

I keep seeing this argument. Break ground day 1. Does Spain not having permitting, public comments portion, Environmental and transportation studies?

Of course, but the basic permits are already there. Europe in general have a long red tape in regards if you want to change the usage of a land, and this is what already has PA the permits to build a bigger park or a second in their property around, they would only need some minor permits to star building, not the long tedious process that could take years and years with courts having the last call after many lawsuits from ecologist. I don't know if I have explain well, if not ask again. But it seems that Tomfoolery has fresh knowledge that all of this doesn't matter any more, they have their chosen place already.

 

[Dan Cooper]

Well, that's certainly an explanation. Not sure why you posted it exactly, but... yeah.

Because soon you'll have to get accustomed to seeing her

You can't polish a turd.

Well that's exactly why we're laughing it off, given how it seems an L (which stands for Limited) has more credibility than us. Time will prove us right though

 

[Parkscope Joe]

 

[UniversalRBLX]

Seems a bit strange to have a possible Universal Park in the UK being planned for a year and the only proof available is the NVUL name, which doesn't even confirm that it's called or have anything to do with London... I'm sorry but I'm super skeptical about any of this being remotely real...

I'm not saying it can't be true, but according to the info you've provided (or the lack of) and the certainty that this is definitely happening, similarly to @tommyhawkins, just isn't enough to speculate that much. Is there any other type of information or proof that you can share?

Not at all strange, especially for Universal... we didn't really know about the Frisco project until late last year a few months before the formal announcement. Not the first time a company quietly worked on a project to avoid public scrutiny/environmental groups/other entities that could delay work. Ask anyone from the Miami Wilds or the American Dream Miami Mall project that's been in approval hell for more than a decade now because of locals complaining about traffic or environmentalists arguing over protected species.

Euro Disney started planning in 1982-83, with an agreement in place 2 years later with France. Didn't open until 1992.

 

[Nico]

This thread has gone places.

So uh, sounds like things are piling up that this isn't happening then going by that article about PortAventura selling their land and not the resort.

My reading is still that they are open to all offers and are doing what they can to make themselves attractive to prospective buyers.

It is strange that the article is recent. If this was a US article, I’d consider the site’s initial source and their reasons for supplying the info in the first place. I.E. someone wants that info out publicly. But I don’t know Spain in the same way.

 

[Alex23]

I presume this would be a quick way to pay down the company’s debt, using the money from the land acquisition. Later they could theoretically still sell the parks and hotels and without the attached debt, but now unfortunately without ownership of the land it sits upon, which is not the best long term investment for an operator.

This is what Merlin did with some of it's UK theme parks (minus Chessington as that land is very valuable).

Merlin conjures up leaseback deal

www.telegraph.co.uk

Although it seems that has been part of another deal to pay off the debt that the land owner had

Alton Towers landlord agrees 'innovative' £257m property deal | TheBusinessDesk.com

Proceeds will repay debt against three major tourism sites

www.thebusinessdesk.com

Will be interesting to see what happens when the leases expire in the future

 

[Dalt Wisney]

Not at all strange, especially for Universal... we didn't really know about the Frisco project until late last year a few months before the formal announcement. Not the first time a company quietly worked on a project to avoid public scrutiny/environmental groups/other entities that could delay work. Ask anyone from the Miami Wilds or the American Dream Miami Mall project that's been in approval hell for more than a decade now because of locals complaining about traffic or environmentalists arguing over protected species.

Euro Disney started planning in 1982-83, with an agreement in place 2 years later with France. Didn't open until 1992.

What I meant with "Strange" is how no one ever even mentioned that this was a possibility, or even less than that in the last year, but suddenly several people say that they know a lot about it but can't share anything nor provide proof? That seem odd, not the part that if it were to happen, it could happen like this.

 

[Jake S]

This is what Merlin did with some of it's UK theme parks (minus Chessington as that land is very valuable).

Merlin conjures up leaseback deal

www.telegraph.co.uk

Although it seems that has been part of another deal to pay off the debt that the land owner had

Alton Towers landlord agrees 'innovative' £257m property deal | TheBusinessDesk.com

Proceeds will repay debt against three major tourism sites

www.thebusinessdesk.com

Will be interesting to see what happens when the leases expire in the future

Soccer fans may liken some of these moves to the many “levers” our good friends at F.C. Barcelona have pulled in recent years.

 

[Nico]

What I meant with "Strange" is how no one ever even mentioned that this was a possibility, or even less than that in the last year, but suddenly several people say that they know a lot about it but can't share anything nor provide proof? That seem odd, not the part that if it were to happen, it could happen like this.

It’s not strange on our side over here. We’re pretty used to Universal being late to announce things, even when it’s in active construction. The other examples, Frisco and Vegas had a similar surprise factor.

Also, most insiders do not/cannot disclose what they know without burning their sources, getting in trouble themselves, etc. Typically insiders will sit on info for a substantial amount of time until they feel more comfortable. Once it is dropped, then this process we’re in starts up.

The PA rumor hit a fever pitch with Greg Hall’s tweet, so I would guess that’s why Tom dropped the info when he did. But thats just my guess, not anything said by Tom.

 

[UniversalRBLX]

My reading is still that they are open to all offers and are doing what they can to make themselves attractive to prospective buyers.

I'm leaning towards this. It's very odd for a company to look for investors/buyers, and post publicly their need for restructuring debt if they are in discussions with Comcast for a true sale. Not saying Comcast isn't interested, but it seems like they're not as interested anymore or are playing hard to get.

What I meant with "Strange" is how no one ever even mentioned that this was a possibility, or even less than that in the last year, but suddenly several people say that they know a lot about it but can't share anything nor provide proof? That seem odd, not the part that if it were to happen, it could happen like this.

Maybe because the teams are so small and these transactions are so crucial they want to keep a tight lid? Maybe because Universal has multiple options to work with insiders aren't confident to report where exactly it's happening. It's obvious a European resort is next for Universal... where exactly we don't know. If you asked reputable Disney insiders in 1982 where Euro Disney was going, somewhere between Rome and Naples would have been their answer lol

 

[Mad Dog]

Would Universal really want to spend a billion dollars on a park that they have to completely makeover in their image or wouldn't it be more cost-effective to spend that money towards something new?

I'm guessing that this news kind of puts the kibbosh on Universal acquiring PA. They need to spend tons of money to bring the park up to Theme Park standards, and it's doubtful they'd be willing to invest that much money into a park where they just lease the land. Secondly, if the owners were willing to sell the entire kit and kaboodle, that likely estimated asking price is too high for a park that needs lots of work and attraction expansions. I like the PA site, but surely not at those terms and/or price.....Seems like signs are pointing to the UK government worked out/working on a sweetheart deal that is very enticing to Comcast....perhaps some other stuff behind the scenes besides a theme park.