With Hard Rock Park sale final, work begins to open this year

MYRTLE BEACH - Work on Hard Rock Park will start immediately as the sale of Hard Rock Park was made final Thursday, according to officials with FPI MB Entertainment, LLC.

The sale closed Thursday afternoon.

When that work starts, and throughout the whole process, around 700 to 1,000 jobs will be created, officials said.

While the theme park may be ready to rock again by Memorial Day, more details are out about the approved buyer. Two of the investors with the group are two of the original founding members of the park, according to a press release issued by the Brandon Advertising and Public Relations firm working with FPI MBE.

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Click here to read the Hard Rock Park sale approval.

One of the founding members is Myrtle Beach man, D. Tim Duncan. He is currently president of Duncan, Farmer, Munden, McIlrath & Cobb, CPA, P.A., in Myrtle Beach.

The other founding member is a Wilmington, North Carolina native, Thomas M. Hiles. He’s served in senior executive positions in the food and beverage business for more than 40 years, according to the release.

The other investors include: Roundbox Advisors; Freestyle Park International, a division of MT Development based in Moscow, Russia; and the Baker Leisure group.

The Baker Leisure group is headquartered in Orlando, FL, and includes extensive experience in theme parks such as: The Walt Disney Company, Busch Entertainment, Six Flags, and Universal Parks and Recreation, according to the release.

It's interesting to note who the Baker Leisure Group's first client was according to their website; the Hard Rock Cafe. Founder, Steve Baker, worked with the Walt Disney Company for over 20 years, according to the group's website. And in 1988, Baker resigned his position at Disney to form his own company, the website states.

"We immediately get to work on the park. And we just start, our goal is to be open by Memorial Day, and that's a big challenge. We got to hire all the people, and fortunately the park is in good shape. We didn't find any problems with it," Baker told News13.

"We learned we're not going to do. The other owners did not market properly. They counted on the Hard Rock name just to draw the people. They didn't get involved in the community, they didn't really take advantage of the tourism infrastructure that exists in Myrtle Beach and South Carolina."

Baker says their first priority is to keep the Hard Rock Brand attached to the theme park. Ticket prices will also be lowered to around $39 per person, and $75 for season pass holders, Baker said. Season passes from last year will also be honored, Baker added. He does not know about any potential local discount that could be applied at this time.

For tourists, the $39 price tag is going to seem reasonable, local research economist, Dr. Don Schunk, said.

"It's going to depend on what additional improvements they make to the park before they open it. And I know they talk about adding a few more rides, and beefing up various parts of the park. If they make enough improvements before they open, that it warrants a 39 dollar admission, I think that's a very reasonable price point," Dr. Don Schunk said.

As far as a local discount, Dr. Schunk thinks it will be necessary to offer one to drive a more local presence to the park.

"They're going to have to know that we have relatively low wages, relatively low household income, and they're going to have to figure out where that local price should be, so they can maximize local visitation."

The press release also quotes one of the investors involved from the Moscow group.

“We are very pleased with the decision rendered by the United States Bankruptcy Court for the District of of Delaware today and are fortunate to have the opportunity to reopen this magnificent park,” said Alexei Sidnev of FPI MBE.

“We look forward to the finalization of the sale, beginning our march to reopening the park Memorial Day weekend and making sure the park is a long-term success.”

Count on News13 to keep you updated as this story continues to develop.