After losing money and attendance almost since it opened amid controversy in December 1993 in the US 192 tourist corridor, the Chinese Travel Service of Hong Kong locked the doors on the property near Walt Disney World at the close of business Dec. 31 and is considering offers on the prime acreage, industrial brokers in a position to know tell GlobeSt.com. At an estimated current market value of about $500,000 per acre, brokers tell GlobeSt.com the 74 acres could generate a sale price of $38 million.
Splendid China officials couldn't be reached by GlobeSt.com's publication deadline; however, in a Web site announcement, the company says "the determination (to close the attraction) was reached primarily due to the continued downturn in the tourism economy, as evidence by the closing of other tourism-dependent businesses in the area."
The Chinese Travel Service's prepared statement adds, "Despite several years of attempting to achieve successful theme park operations, the company has concluded that it could no longer continue to incur significant losses."
The attraction had a staff of 40. Splendid China charged admission of $28.88 for adults and $18.88 for children five to 12. The park featured crafted replicas of scenery and landmarks in China, music, roving street performers, a 90-minute stage performance, Mongolian wrestling demonstrations and Chinese cuisine.
Hospitality industry brokers tell GlobeSt.com daily attendance at the park had fallen from about 500 visitors in the late 1990s to about 300 in 2000. Brokers tell GlobeSt.com the park's lack of consistent print, electronic and billboard advertising contributed to its demise.
The Chinese Travel Service of Hong Kong, a travel agency owned by the Chinese government, owns Splendid China. The Travel Service has denied repeatedly to local anti-Communist groups that the park's presence was a Chinese Communist Party propaganda tool.
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