Life in the fast lane apparently was too much for Myrtle Beach's Hard Rock Park. Six months after opening, the only major U.S. theme park to open in the last decade is for sale.
Spokesman Jim Olecki said Friday the $400 million Myrtle Beach park celebrating rock 'n' roll couldn't cope with less-than-expected attendance and a faltering economy.
The park opened in April after seven years of planning, with roller coasters based on Led Zeppelin's “Whole Lotta Love” and the Eagles' “Life in the Fast Lane.” It filed for bankruptcy protection in September.
Olecki said owners hope a buyer can be found by the end of the year and the park can reopen in 2009. However, Hard Rock Park won't open if it's not sold, Olecki said.
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He said he could not say if park owners were in contact with a prospective buyer or how much the attraction would cost.
The park's creditors must file any objections to the sale by Nov. 13, according to court documents filed Friday in U.S. Bankruptcy Court in Delaware.
Olecki has said the park didn't have enough money for promotion when it opened and the credit crisis made it impossible to get more.
The park had projected attracting about 30,000 people a day and 3 million a year. Olecki did not immediately have attendance figures for the past six months.
The guest satisfaction levels were strong, according to the debtors' court filing, but “overall attendance at the Park was lower than expected, primarily as a result of macroeconomic conditions that significantly depressed overall demand in the travel and leisure industry.”
Owned by HRP Myrtle Beach Holdings Llc, the park isn't affiliated directly with Hard Rock Cafe International Inc.