‘Experienced’ group seeks Ghost Town
MAGGIE VALLEY — A group of potential buyers for Ghost Town includes an amusement park owner and a scenic railroad owner, announced a lobbyist for the buyers on Tuesday.
During a presentation to the town board, and to the several dozen people in attendance at its regularly scheduled meeting, David Huskins, a regional tourism leader, said a group he represents hopes to purchase Ghost Town in the Sky.
The now defunct attraction often blamed for the town’s economic woes is owned by R.B. Coburn. The group would like to close the deal by the end of the month and possibly open the theme park by May 2006.
The group of potential buyers consists of three men who have formed Ghost Town Partners, LLC, under a parent company called American Heritage Entertainment.
“It’s a very serious group with a very serious mission,” Huskins said.
That group, he said, includes Al Harper, owner of the Great Smoky Mountains Railroad who unsuccessfully attempted to purchase Ghost Town after it first closed and was put on the market, and Hank Woodburn, owner of nine amusement parks in four states. That mission, he continued, is to restore and expand Ghost Town and its brand. Peter Hairston, a venture capitalist, is the third player in the group, which is currently in negotiations to purchase the park and surrounding acreage.
“We don’t know if this is going to happen or not,” Huskins cautioned at the beginning of the presentation.
Opening May ‘06?
But if a deal is reached, he said, the group, which “possesses substantial amusement, railroad, real estate, and investment experience,” would immediately focus on renovation of the park for a Memorial Day weekend opening.
That immediate renovation project, including improved transport to the mountaintop attraction, would entail a $4 million investment, Huskins said, adding that a completely new chairlift would be installed, the incline railway would be restored, and other means of transportation added.
“They’re not going to open it unless they can make the improvements,” Huskins said. As the renovations occur, an “integrated marketing and sales program,” including a “gigantic Internet presence,” will begin to set the stage for the grand opening of the “new” Ghost Town, he explained.
The park will be “cross-marketed” with the other attractions owned by the group’s principals. Harper also owns a railroad attraction in Colorado. Woodburn owns amusement parks, called Adventure Landing, in three cities in North Carolina, three in New York, two in Florida, and one in Texas.
Employment for 285
Over time, Huskins said, the group expects to invest more than $12 million into Ghost Town renovations and expansions.
Huskins said the group expects to create 285 full- and part-time jobs by opening Ghost Town, including a general manager position and 11 departmental managers. Those managerial positions would likely be filled by people with extensive experience and expertise in amusement park operations — probably transferred from attractions owned by Harper and Woodburn. But Huskins emphasized that the team will include current and past Ghost Town managers.
He said they project at least 150,000 paying visitors in 2006 and 270,000 by 2010. “Those are modest projections,” Huskins said, adding that in its last year of operation, even without a functional chairlift that forced visitors to be bused to the top of the mountain, the park attracted about 118,000 people.
Longer hours, season
In his presentation, Huskins opined that favorable demographics and trends — annual revenues for amusement parks and the attractions industry exceed $10 billion — point to success, especially for smaller regional parks. Ghost Town, he said, would not compete but instead compliment other existing regional attractions.
Huskins said their initial thinking includes longer hours of daily operations, which might require the addition of lights, and an extend season, perhaps from early spring through Thanksgiving and possibly Christmas. The park would maintain much of its theme and feature a variety of heritage tourism, while also offering dining and entertainment opportunities. By creating some indoor entertainment, it will allow the park to operate in the tourism’s shoulder seasons, Huskins said.
Will it happen?
“There are no secrets here,” he said, seemingly addressing the reason for the somewhat detailed presentation of the group’s plan — a starkly different approach to more guarded purchase efforts in recent history.
“We think this plan is viable,” Huskins said “We feel we’re the best fit for Ghost Town and the valley.”
The focus of Ghost Town Partners is the park, he said, adding that development of surrounding acreage is a long-term idea that is not currently a priority.
“We are working with (Coburn),” Huskins told the crowd. “We have a comfortable working relationship, but he is a tough negotiator. We are making progress.”
Alderman Phil Aldridge, however, wanted to know just exactly what that meant, indicating a concern that hopes of the community would be dashed again by another promised but failed deal.
“This is doable,” Huskins responded, adding that there is not yet any buyer-seller agreement. “We are working on it.
“We are a motivated buyer, and we hope he is a motivated seller,” he said. “With R.B. (Coburn), it’s show me the money.”
Huskins and company will have to show at least $7 million if they hope to finalize a deal by the end of the month, he said.
Darren Miller can be reached at 452-0661, ext. 115 or at darren@themountaineer.com
