That was quick

Manuel01

Well-known member
Apr 1, 2009
902
939
93
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.
 

JD Jones

Moderator:North Coast,Santo Domingo,SW Coast,Covid
Jan 7, 2016
12,339
8,635
113
Last edited:

SKY

Gold
Apr 11, 2004
13,677
3,822
113
This place was doomed from the start. There were more people at a graveyard any day of the week than here..................
 
  • Like
Reactions: colmcb and Manuel01

Wheathead

Member
Sep 10, 2011
105
12
18
The mini golf was fun but kind of expensive. $20 per person for roughly 45 minute. Since it wasn’t busy when we went, the guy running it let us do the other 18 hole course. While it was fun, it wasn’t something that I’d do again.
 

keepcoming

Moderator - Living & General Stuff
May 25, 2011
5,009
2,810
113
Ya beat me to it. LOL

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.
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.
 

SKY

Gold
Apr 11, 2004
13,677
3,822
113
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.............
 
  • Like
Reactions: keepcoming

NALs

Economist by Profession
Jan 20, 2003
13,779
3,333
113
Ya beat me to it. LOL

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.
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.
 

NALs

Economist by Profession
Jan 20, 2003
13,779
3,333
113
That proves beyond a doubt that, just because you have money, doesn't mean you're smart.
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.
 

melphis

Living my Dream
Apr 18, 2013
3,514
1,706
113
No surprise it shut down. Horrible theme park for the price. With that big of an investment they could have hired someone who could do a daily cost/ profit analysis or even a guy with a pencil to do a daily head count of paying guests.
 

chico bill

Dogs Better than People
May 6, 2016
12,846
6,638
113
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.

 
  • Like
Reactions: cavok

chicagoan14

Newbie
Apr 2, 2019
171
130
43
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.
 

NanSanPedro

Nickel with tin plating
Apr 12, 2019
6,764
5,856
113
Boca Chica
yeshaiticanprogram.com
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.
You're right of course but for my perceived value, I'm priced out too.
 
  • Like
Reactions: chicagoan14

JD Jones

Moderator:North Coast,Santo Domingo,SW Coast,Covid
Jan 7, 2016
12,339
8,635
113
What's amazing is they thought this would produce more income than the rent from the stalls at the mall.

Take note all of the businesses there will still operate, only Katkungfu is out of business.
 
Jan 9, 2004
11,007
2,342
113
What's amazing is they thought this would produce more income than the rent from the stalls at the mall.

Take note all of the businesses there will still operate, only Katkungfu is out of business.
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
 

SKY

Gold
Apr 11, 2004
13,677
3,822
113
What's amazing is they thought this would produce more income than the rent from the stalls at the mall.

Take note all of the businesses there will still operate, only Katkungfu is out of business.
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.........
 

aarhus

www.johnboyter.com
Jun 10, 2008
4,589
2,072
113
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.........
That’s pretty much when I last spent time in that area. Palma Real Mall was very busy 15 years ago.
 

MariaRubia

Well-known member
Jun 25, 2019
2,446
3,266
113
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.