Katmandú Park Punta Cana cierra sus puertas
El parque temático se inauguró en febrero de 2023
www.diariolibre.com
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That was quick
www.diariolibre.com
2 Adults+ 2 Kid's 400$ + Food and Drinks. No wonder they closed down. And surounded by all inclusive resorts. My guess is that 90% of Resort Guests do not spend one single $ outside the Resort.
Ya beat me to it. LOLKatmandú Park Punta Cana cierra sus puertas
El parque temático se inauguró en febrero de 2023
They really needed to run it as a loss leader for the hotels. Throw together some all included packages. I always get the impression they wanted to invest as little as possible to get it up and running.
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This place was doomed from the start. There were more people at a graveyard any day of the week than here..................
That proves beyond a doubt that, just because you have money, doesn't mean you're smart.
I always wondered if the hotels advertised any packages available. Many do not like to leave the resort once there. A lot of the resorts have "waterparks" that guests use so probably not a lot of interest to visit Katmandu.
Melia has 3 or 4 Hotels on this property adjacent to the Park. So no one had to leave the front gate to use it. I guess they could not get people to pay and the expense could not be met.............
The resorts in Bávaro-Punta Cana area have some of the highest average occupancy rate in the country and the Meliá resorts must be smong the most popular since before Katmandú Bávaro was a thing. I think those resorts don’t need anything to bring in customers. They do it by themselves.
It isn’t the first time in this case Spanish investors throw money down the drain. From the highway near Guayacanes you can see the ruins of what once was Los Delfines Water Park. That too was an investment by Spaniards and it went belly up. They couldn’t compete with the one in SDE which isn’t a rip off like this one tried to be and is visited almost exclusively by Dominicans.
Something similar happened to Columbus in the Sosúa area, but the one in Santiago is still open and quite popular with Dominicans.
An amusement park done right might work in the DR. Guatemala has one and it depends entirely on Guatemalans. Guatemala is poorer than the DR. If they manage to keep one open, the DR might too unless they try to do another rip off attempt.
I think we are seeing changing times. There's an old adage - don't chase good money after bad. And if you've got scared money this may be one time to sit out.
We are on the top of the roller coaster where companies and banks are no longer be so free with money, regardless of high interest rates.
Office properties, strip malls and RIETs are all collapsing in both occupancy and income. Record levels of brick and mortar closings.
If your are holding large debt, and you are in trouble you are not likely to be bailed out.
Even last night President Knucklehead offered $400/month for two years for home mortgage offsets, and admission that people are sinking under debt. Sure it's an election year gimmick, but also a 'tell', as they say in poker, that possible real estate contractions are not far off.
Morgan Stanley projects 2025 to be a year where large debt bombs will go off, and that is regardless of who is in office.
We are on the top of the roller coaster where companies and banks are no longer be so free with money, regardless of high interest rates.
Office properties, strip malls and RIETs are all collapsing in both occupancy and income. Record levels of brick and mortar closings.
If your are holding large debt, and you are in trouble you are not likely to be bailed out.
Even last night President Knucklehead offered $400/month for two years for home mortgage offsets, and admission that people are sinking under debt. Sure it's an election year gimmick, but also a 'tell', as they say in poker, that possible real estate contractions are not far off.
Morgan Stanley projects 2025 to be a year where large debt bombs will go off, and that is regardless of who is in office.
I couldn't believe that they put this place in an old mall. I thought there would be rides but then i got to thinking about how the power worked here.
Many new places in general put up a huge paywall and try to keep certain people out or create a certain image. That's something that i think is created most successfully organically.
At the end of the day, many places need to rely on Dominicans to be their customer base but the average dominican is priced out.
Many new places in general put up a huge paywall and try to keep certain people out or create a certain image. That's something that i think is created most successfully organically.
At the end of the day, many places need to rely on Dominicans to be their customer base but the average dominican is priced out.
You're right of course but for my perceived value, I'm priced out too.
They priced themselves out of existence from the very beginning. What AI tourist family wants to drop that much money on so called "immersive" rides? And the answer is/was............not many.
I would guess the other businesses there likely viewed Katmandu as the "anchor" tenant driving traffic to their businesses...................their future likely also remains in doubt.
It struggled as a mall when built and certainly now as a theme park it has not done well either....................what is next......is anyone's guess.
Respectfully,
Playacaribe2
The Mall is like a ghost town. Not much there anymore and no traffic. Palma Real Mall 15 years ago was the ONLY mall. Now you have San Juan Mall, Downtown Mall, and Blue Mall. All tons better than this one.......................Pretty much all done.........
So pleased I didn't ever go there. What I don't understand is why someone doesn't build a theme park in Santo Domingo. There is so little for families to do, and so much money buzzing around.
I wonder how much they lost on Katmandu? Next failure I see coming is the Colonial City village thing they are building. As soon as all the AirBnB's need to be licensed those massive projects are going to hit the dust.
I wonder how much they lost on Katmandu? Next failure I see coming is the Colonial City village thing they are building. As soon as all the AirBnB's need to be licensed those massive projects are going to hit the dust.