$148,000.00 per month base rent.....
So I recently paid a visit to the Goretorium in Las Vegas (which filed for chapter 11 bankruptcy). I do not think it would make sense for me to write a detailed review, as the Goretorium is not currently running in the way that the creators have planned. For example, when I visited there were only around 6 actors in the whole show (which apparently was built for 40-60 actors). I must point out, however, that those actors did a great job making the best of the situation.
Of course I was rooting for the Goretorium to become a success but (like most of you) I questioned its year-round business model and pricing strategy. After visiting, I did some research to get a better understanding of Goretorium's business model. I found this interesting document that I wanted to share with you all (Start on page 32. Open the link and do a search for "Goretorium"): http://www.sec.gov/Archives/edgar/da...n159_fwpx3.htm
Here are a few key parts of the document:
On page 40 and 41 there are some great pictures of the building and the floor plan of Harmon Corner (you can see how much space Goretorium takes up!)
Heres a quote: "Eli Roth’s Goretorium (14,799 sq. ft., 22.1% of NRA, 15.2% of U/W Base Rent) Eli Roth’s Goretorium (“Goretorium”) is a live, self-guided horror experience created by Eli Roth, an American film director, producer, writer and actor. Goretorium consists of more than 20 rooms with different displays and ends with a drinks lounge featuring outdoor space overlooking the Las Vegas Strip. Goretorium opened October 1, 2012. According to the Harmon Corner Sponsors, Goretorium has invested approximately $8 million ($541 PSF) to build out its space. Goretorium has a lease expiration date of September 30, 2022 and two five-year renewal options."
Unfortunately, it looks like the Goretorium was always destined to have financial problems. Even on paper the Goretorium's business model does not seem to make financial sense. I wonder what would have happened if Eli Roth took the seasonal attraction route instead. From what I hear, Eli seems like a great guy. I wish him (and the Goretorium) much luck for this season.
$148,000.00 per month base rent.....
I think you are judging a biz model comparable to standard haunt. You're missing the fact and calculation it is a Las Vegas property. When I set up I had over a million people in October alone brought within a few feet of my haunt. The problem is getting them to chose you over a hundred other competing mega shows.
It's official, they're closing October 2nd.
I'm sorry but the haunted house industry can't support 148k per month, and a note of 8 million in debt just can't happen... no way! They are closing for good after Halloween... just milk this thing through Halloween and its gone.
I wanted to get out to see it as well... thanks for the info!
i like the quote, "on the third floor of a walgreens with no parking" lol well when you put it that way....
now can they host the sale here?? i could use some eye candy, someone get them on that auction site that the other haunt used haha (no but really....)
I just saw today, they are saying the last day is today that they are open. Not even open through halloween, Shame
Who is going to the auction as everyone predicted months ago.... Lol. Larry
Count me out, nothing worth having
I think someone already posted this but... from reading it looks like there will be an auction soon maybe right after Halloween. If this is the case I think I'll go!
|« Previous Thread | Next Thread »|
Users Browsing this Thread
There are currently 1 users browsing this thread. (0 members and 1 guests)
|Tags for this Thread|