economic feasibility analysis of lion country safari park

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Economic Feasibility Analysis of Lion Country Safari Park in Texas Economic Feasibility Analysis of Lion Country Safari Park in Texas

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I I I I I I I I I I I I I I I I I I I

Economie. Research Associ .. 1es

....... e cpo .. ....... _ DC

[ CONOMIC r£ASlBIUTY ANAl. YSlS Of LIOH COUNTRY SAfARI T£XAS

" 'Ii '" !of llOfl COU"IIIY SOU'", INC.

So"'omb", II. I ~;O


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T AlIl E OF COSn:N TS

ISTROOIJCTION •.

Sl:MMAlIY AM) CONCLl!Slo.'<s

t:CONO~II(: ENVIRONMEl>T 0, Ttll: OAI.LAS· FORT WORT H METROPOLITAN AREAS

Ec""om" Env,,,,,,,,,,...,,,, .... CI"".'. Con,pc l ,"'. and Compl~m",,'uy An •• , . ,,,,,. S,t_ Analy." ., . .... .

MAIIJ{ET ANAl- VSIS AND A TTENDASCE PRWECTIONS

Del.",,,,,,, Of Ma.h, A.u R.co,de .. ' M .. ~ •• A, ••• T"""., M.,k •• A ••• Pr",.,,,,,,, or AU ... d.n<*

FINANCIAL ANAL Y5IS R.v.n~. P,,')e<" "'"

...

P r o f"o.m. C .. h Flo .. An,lyol • .

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P"I.

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Hl_1 ]J[. J lll_ 7 In· 7 lH_l0

IV. I IV. I IV _ I 1'1_ . LV.'

.d .-, . -,


, ,

LIST or nCURES

PROPOSED LOCATION or LION COUNTR.Y SAFARI_TEXAS, .. ...

RESIDENT MARKET AREAS VOR LION COUNTRY SAFAlU_TEXAS ....

'"

Page

In_ 1 I

IV _l

I I I I I I r I I I I I I I I I I I I

,

, ,

•

• • ,

•

•

LIST 0. TABLES

POPUI-ATJON TR£NOS IN THE DALLAS AND F"OR.T WOItTH METII.OPOLITAN AREAS, 1')60·1970 . . . . . . . . ....

EMPLOYMENT IN THE DALLAS STANDARD METROPOLITAN STATISTICAL AJU:A, 1960_1970

EMPLOYMENT IN THE ,OIH WORTH STANDARD METROPOLITAN STATISTlCAL AR£A

INCOME DISTRIBUTION OF RESIDENTS 0'" THE DALLAS AND ,ORT WORTH METROPOLITAN AR£A5. 1960_1910 . . . . . . ...

SELECTED WEATHER DATA FOR DALLAS

DELIN!:ATION OF RESIDENT MARKET AREAS FO!l. LION COUNTRY SAI'ARi·T(X"S. 1969_1980

SEASONALITY or OUT_DY_STATE: R£CREATlON_ ORIENTED VISIT" TlON TO TEXAS

ANAL '{SIS OF ATTENDANCE POTENTIAL AND PROJECTIONS FOR LION COUNTRY SAFARI_TEXAS,

Pag.

!!J. Z

111_4

LJI_ 5

!II. I>

II!_S

I V. S

I V_I 0

1911_1980 . . . . . lV_l~

ESTIMATED PER CAPITA EXPEND1TUR(S AT LION COUNTRY SAFARI_TEXAS. . . . . . V.Z

OPERATINC !l.EVENU£ rO!l. llON COUNTR.Y SAF"AIU_TEXAS. 1971_1980 . . . . V_<

OPER.ATlNG EXPENSE FOR. LION COUNTRY SAF"ARI_TEXAS. 1971_1980 ........ V_6

,.


UST or T ADLt:S (Contin".dl

U SUMMARY or OPER.ATlNt;; R.EVENUE AND E X PENSE FOR LION COUNTRY SAFARI_TEXAS 1971 _ 1980 . . . . . . ...... .

j) PRO FORMA CASH FLOW ANALYSIS OF LION COUNTRY SAFARI _TE XAS, 1970_1981 ... , .. PRO FORMA CASH FLOW ANALYSIS OF LiON COUNTRY SAFARI_TEXAS. 1910_1981 .• . • . . . V.l0


INTROOUCTlO!'

I..ion Cou"", Safar!. owned by Na"on.1 lAio.,n, In~ •. <UH~ntly opcra<eo animal p .. h In Florid. and C..!if"rnb. TM Flod". "","cHon. I"".'.d ... eo. of Palm auch, w" <>1"'_<1 10, Aq .. o. 1%'. A. ,he "me eI opot0'"'' ,hlo facility .. ' ......... " .. up.U! inv .. ''''''''' ot ..... ,hly $1.0 m,lLIon. and in ". fin. yea. d ••• 610.000 vio..to .. , for .. IIr" ... ~ ..... of 11.7 m\lli ..... £"" ....... '.01 by 'ho ."cuu 01. du. 0, ... """, 1<." .... &1 lAu" ••• Inc .. built ... ee_ fecillty in So\o'h"," Callforn... AU""",,,-"".n •• d toward , "" tam. eoneopt of Oft"".l dl'pla,. ,,,- eam"r,.,a ."n"hon i. much 1 .. ,e, and I>roade, in >copc . ban I .. Florida pr.""· uuo •• At i .. .,.,onlnc In Jun. 1970. it '.p .... n,o" an Initl.l <.pH.l inv .. \<nent of '1-1 . 5 mlUlon. AU."d>.nee p , oJ,clion. for .h. fl , .. y ... of operatlon a r • • ou,hly 1.1 mULIon. and . 10 da,., .he fo.UIl y hao olr •• dy .",aet.d more than lOO, 000 vl.lto,". 0.. thl. 1, .. , •• It i •• ppH~n •• hat , ....... ~...t~nu p ... j.~U"". oro "0\1 ..,.bln ,nch.

I..'on Country Sa.ror! ....... I. I"",ki"..o a ,hI,d MO.b. 10 ... hlch to upa...t I .. <>pnaU""o. Tho Iblla •. T",,",. un hoo boon '.o,.""~IJ' .. leetod .• ...t "",otl.tlon. 10 •• pa.ecl of p , o""",. on ... tIlch to 1"C>.t~ an ... ncUon ••• no... .......... y. H" .... "" •• p.lo, to makl ... a flo.l d~ci.l_ ,o,udi", .tIl. un. I:<onoomlco R .... rch A ..... lotn ........ ~In~d '0 c","· d.,e, •• n.ly.i. and l.o.lbm.y .".I"..Uo .. of tho p.opo.od DaLL .. a .. racUon. Th. flndln,. of thl ...... ,~h .rfoFt • • • p ..... nt.d In .hto reporl . roLLo .. • In, .M. Introductl"n. ''''''mory .nd cond u.lo". of ...... ch flndln, •• • • p .... nted In Section n. Soctlon I!I .n.ly ... tho ,0 ..... 1 .co .. omic e .. vI,on. m .... or , h. noll ... l""o" ..... o .. h mot.opoUto" ....... nd ov.l""t .. tho .11. .. ...tor coo.ld.ratlon for 1...0 .. Co.. .. try Sof.rI. Soctlon IV .no',. •• ""' .... '.1 .0 .. « .. "I ""rk ..... ppo ... ...t p . ojoc ... ".odo .... (0' tbe ." • • ctlon .... hil. Soctlon v p .... n ... dell .... tlon of.be pro)occ.od IIGanda, p",fo.",ooco of

.h ••• " •• tI .. ...

Thi •••••• rch p ..... orn ..... c""cIuc'od ""d .. ,h •• dmlnl ..... ;n ... ""rvlaloc "f Ito .. h_ A. P . lco. P ... ldent ot I.:conomlco Rouar.h A ..... I ..... A. Rodmond Domo. J . .... vod &0 proj ••• m .... o •. and w ..... " P. Cool.y oo proj«' I .. d ••. Economlco Roo.arch A .. oci .... 01.0 ".\dully .ckrtowlod,u tho <ooJ>Oro1lo" 01 1I . .. y Sh ...... ond Jerry Kobrin of .. Ion Country Saf • • I.

,-,


Melio" II

SUMMAIW AND CONCLUSIONS

Thi. ,Htion preac" .. the ......... 1. CODcl ... l"". of the •• udy. NQ ... emp. h .. be." made '0 prucn, oupporUns evidence "r d.,,">n' ••••• ,h. [olie employed in dulv;,,& [hue <onduoion., ••• de •• Hed '''aiy.lo of 'hue fa",,, .. \0 p,..,.."Ud in the main bcdy of the .eport.

Oudn& the d«ad. of the 1960 •• the Oallu.F"n W,,<th m'''"polito" ar ••• "proaen'ed o"e of the lu.eo' ,«''';:tli metropolito" compluu In .he no""". T<>doy •• heoe combined ..... hove. p<)p»l.tion 0/ .o",My Z. I ",ill,e" "".oon •• In addition to •• pid pDpulaUon . , owth, bo.h ueo. bve aubl, •• onomlc .nd employment b .. eo. Mo.cove<, the eli", ... 0{ .he oreo i. relatively ",Ud, 0" ,lLoJ: an ..... ction ouch .. Lion Coun"r SafarI. ",he.e po"ple .. main in 'hel, .... [or. o"b,unUai pon of ,he;. vi.it. could open •• yc"o,,,,,,,d and not be hind •• ed ollnmuntly by wea.her tondl'i""o. a ... d on .h ... ravouble f.<toro. i. io tRA'o opinion t h" .he Do.llao_Foco Wo.th ", •• ke' •••• ,op.uo" ... lood location lor. o.ra'; po .k.

It 10 ol,n.lfic.nt. however •• hot the ."en'.nce po.ential 10' the otn.ctlon will nece .. "lly have to be ohared with . new f.dlity. to bo called World of Anlmolo, ""der con".ucH<>n and .ohoduled for openin!! in t"" faU of 1970. Tbio competltive oU".tlon h .. been conoldere. throullhou, .he p«p"<>tion ot thlo .tully. A"endan.e projec.ed on thio booi. for \..Ion Country So.fori _ T eu. oh""ld .eath 55 4, 000 In 1971. in ...... ln'.o 1,14 8,000 In 1975 and to 1,348.000 by 1980.

Po< •• pit. expendl"',e level. for \..100 Country Saf.ri·Ten. ,,"ve been b .. ed on .ho antlclp .. ed ex?"rlonce of .he Callfo,ni. f.<ility. with adju.'",e,,", wheee .W'<>prl .... \<> •• nec. conditio,," I' .... tlcular '0 Teno. t.tlm .. ed per copl •• vioito, expendltu,e. or •• h" ••• rcUow> on tho ne~' p •• e.

II_ 1


Admi .. ,o"o Tap" RenU)o Souvenir Boob Car R.nuh Ride. r,,<xI and Bnor",'" Me.ch."ndi ••

Total

Toul E xpenditu.e

52. ~O O. 1l O. 1l O. OS O. H O. 55 O. 45

$ • . 06

Pu Capita R.,'enue ,. Ope .. h,,!; CorpO'''''on

$2 . SO O. 13 O. [] 0, DO'> O. 2S 0.09 0.09

$1. 19

T~. P'" uP' " revenue ex!"'«e d to accrue to the "pouting ~Q'~"';on i. bHed "n .h" .. ,umption .h. , t he ear • .,,,nl. lood. beverOlle , and m .. _ ch,,,di •• (acililie. will b. I .. oed '0 <,,"<u.'on,in,.

For I""poo" oS fin. ncla' ana ly.i. , .. hm ... d annuol '''e"donee and pe r cap'" vi.llo, upenditu<o. ue converted to .otal vi,l'or oxp"odi _ 'u,n, I."", wMoh projeot "I"' , ,';n, u pon.eo and .dju.""o." for the coa' of .OuvM;. book •• ol d . property 'ax .. , and land 1 .... poOym."" ue deducted to de<ive net op .... ;n& r e venue, " fo!lo,"",

1970 19H 1980

Vi.itor Expendit"' .. $2.249.000 « . 661,000 SS, 473, 000

Opu .. tin, Revenuu 1,771.000 1.007,000 4,300.000 Op""aUnll E:..pen ... And

Adju .. m.n .. 1. l37. 000 2 , OH.OOO 2.)]1.000 Ne. 0p"""';01l Revenue S14, 000 1, 042,000 1.993, 000

The p'o fo''''~ fin.nd~l .. ..alp;. for L;on CQuntry Saf.,i_Texo . ha. bun c.lcula •• d M .he b.oi. of fou, .Hump.;on"

I , Income 'ax u eotim.ted at SO percent of pre_tax ;nco",e.

Z. I.">epred U ion calculated on .. " , .. iIM.lin. b.oi. ovcr .. lO_ y ... pe ' iod.


) . PrOjK •• d <onn.ue"o .. e"o' of 52. ~ million. of ..tIleh Sl m.lllon will 1>0 floanud at <) p'neen' ,nt ..... fo •• llh. yun aMI .... remaioi", $SOO. 000 WIll .epr •• en. 'qotl" InvuUneo,.

" ... d On the ..... umph.,,,. and On p ... i ...... lr «!tn •• t.d op ... ';n~ •• venue< and up*"''' ' "'" equity p.you. p .. 'od for ,he p.Gpo.cd p,oJeoo will OCcur .omet ime durin; th ,ixl. yn. ot op ••• llon lL9761 .

!!_l


S~< ti'm m

ECONOMIC E:NVIRONMENT OF THE DA!..!.AS_FORT WORTH METROPOLITAN AREAS

Thl, .~<!lon 01 'he roport pTuen •• genual o<onomlc and cUmOOo!_ "ilcol dot. Tel.live '0 'he O.U .. _Fort Worth ",."opoli .. " H .... Th. lado .. "o.,ed .""dHul\y includ. popubtlon and employ",ent ,<o""h "end. , inc"",. levoh. and dimoto[OKk.1 doh •• I.t ivo to tho Dallu area. Cornp<htive ."dlo. cQmplemen.uy .ecreational " ",odiona in the "eo oI''''re analY'Cd briefly •• • i. ,he .it. te"tatlvdy •• lected /'" loca,;on 01 .he p ' 0p" •• d ." .. cllon.

ECONOMIC !';NVIRONMENT

Population

TobIe I pr ... " .. popul&'iQn d .... lor 1900 and 1970 in tho 0,1\ •• and Fort Worth ",.""poli'o" •••••• The populotlon of [}allu In 1960 wu •• tim ... d at I. 119.4 LO. wit h projection, coU1"i lor an Inc.eo .. to 1 • ~ 38 . 149 by 1970. Tbi •• ep«un" , "ume deal i <owth 01 41 ~, H9 .,.d .,. .v«aie .Mud i<owth "'e 01 l,l pe<~enl ove< the 1%0.1970 "",10<1 . Population in the For' WOr.h • ••• in 1960 .,.d In 1970 I. app . oxlma •• ly o"., .h.1I .h. !)aU .. h,uu. In 1960, Fort Wonh wu eo.im ... d to h.vo • populahonol S7l,llS, inc .... ini to 7S7.IOoln 1970. Thi. r.pru",." > i>in of 163. 669 "","on' .nd .,. ,v"'"go annuo! g .owth .ate 01 l . 8 ""reen. ov.r .he 1960.1910 perlod . Ta~en ,oi".he ••• h. ,wo ..... h.od a popul.tI"n 01I,69l.HS In 1960, inc .... lnll to l,l9S,8Sl In 1970, lor a gain of 6Ol.116 "" •• on. and an ave "ie .nnual i<owth •••• oj 3.1 pere.n. over t he do<.d ....... Indic.ted by .he abev. popul .. ion n,uru, durln,.he 1960 •• • he D.U .. ·Fort Worth "'."opoll',n a<ea woo <>no of t he ",0 •• <opldly growln8 ulion. In .he country, Fo. comparative pu.po •••• dU'inll .he 1960.1970 period, th. popul.tion of th. United Su ....... whole Inc .... ed by. mer< 1 percen • .

!U. I

- - -

, • -

- - - - - - - - -T .... \

POPul.ATION U£"DS IN TH~ !>AI,l.A' AND ~ORT WORTH M>:TROPOLITAl< ..... EAS

1'/40.",.

T ... , , ....... . ' .... I'To

"'"., ....... ,d M",~"" • ... "." .. , Mo.

Colli. """ ••• ",'" OS. II. ".00' boll •• C ..... '".''' 1. "'."_ I.', ," Don ... c.. .. y " .... ".'" ". ,., "'", C ... '" ". ", ...... ..... K,.'m •• C .... , ... '" lI •••• '. ,,, R""kw'" Coo." >,'" " It! 1,00'

To .. , I. "',". 1. "', 7<. '''. n.

H. ". ".'" I.,'" , "', ... ",,,., "' .... ._. "'.'" "', '" "','" T ... , !)o" •••• '." Worth

"""0,."". A •••• I,'",''' '. "'. '" ,., .. " 11 lO .. « •••• "", ~I ,,,. <on •••• ""0."'" dot •.

.... ,," U.S. c •• ,., of 0'9 .... ", ... 1%0 .... '''''p .. ,,,,,, ... ,I. ond E • .......u<o k ...... h A.o<>< .. " ••

- - - - - - -

, ...... .

.. ,.,. .., • • O . • O. .hL ,~

Z. til, L..L

'.~

, .. ",


t.bL .. ~ • ...! ) ,.."co. a b . ukdo_ oIemployme", by m.ajor catc_ I""" for O"U ... 1>d Yon Wo n ", '''p''ctL~.Ly. Tt>oo <"",,,,,>alive .ime porlo<l ... fo r populuioo d .... I, th. ''''0_1970 p,,'o<!. Fo r 1M 0..11" • • r", ' he Oy • .-n .... 'o ' i .. tI"n of employ""'''' did 1>0< ''''"''1" dumoUcoUy <lu r ln, ,h. ""rlod. The 'wo .rUo 011'.0'." dive r ,."". wue •• ric~1t~raL employme,,', wMch up"rle""ed, decru •• f r om 1.4 porunt to 1.3 P"«o,,' d~ . lnl tho pedod. and manw.ct"rI"l employ""'''' . ..,hI.h upe.lenced" d.er .... In production of oon.du • • bl e lood. (ond ttl" .... oci •• ed e mploy . mut l and on lnCfuu In "unblo 100<\0 employmon' cotelQ,iu. Inter ••• _ Inlly. '0101 ",a.>..ca.,u r in, employ""", In ,h. D.U .... u In 1910 W,," only tI.9 .. .,.un • . fhi. i. comp>.ubLo wI.h .om. of ,100 major Ind""d., u ... of tho Mid ..... ouch as L .. uiovi1le and St. L""lo In whle" manufactu . lnt employm."t r.p,unto H to 40 puent of the t01.1 ..... ,k force.

In . h. rort 1I"0nh "rU ...... uwacl"rl .... "'pl..,.mnl ,ep ... e"" -."bnull_U, ,reater por. ion ()O pe . unt) of 100.1 ''''ployme''' .u .. In o..U .. (It porunt). Th!o. \0 p . imulL, ... 'I ...... W. to,M Me"'" employ_ men. h. the Fort Wo.th uu i .. . h. durable ,_. Uuo •. It; •• 100 .""Ih. eo ... '110' 001, app'_'",.'el, 4 p* , cont of tI •• F" .. Worth wo,k force \0 omployed In .ho ca •• ,o'y of fioa"co. 1",,,,.""0. aDd real ... Ue. compared with mO, •• lIon I po , cen' of tho o..n...... ..... , k fo,u.

Incoma level, In bo.h Dan .. and r ... , Worth n • • ho ...... in Table 4. Income pUI.r". do not y.'y ,(,nil!eontLy b.t .... n Ihe lwo ue .. . . lth",,!!" bolh 10".nUy .how. decru •• In .he numb.r 01 p ... ono wi.h .""".1 (ocom .. of 1"0 ", .. ft sa. 000 .nd.n (ner .... In tho n"",l>or 01 poroon. wI.h ..... " .. 1 Inc"", .. of SS.GOO. In both ueaa, .ho . r ...... 10;"0 ;n poro"" .. 1 I"come hoyo bo." made .",Onl ' I>o •• p"' r .ono oo,nl"l SIO.OOO to $14,999 .. n.d $15,000'0 $24. ",. In 1910, ll.4 P"'«.o' of o..n ..... n .... 01«0" eorned mo .. 'u" $10.000, comp"' .. d wI,h n.4 p"'ru", 10 ,he Fort W" •• h ....... Till. dllfor enc. Ia ,."".Uy .Utl"" ... bl. to tho M,h", proportion of p,OI .. 'lo .... lIy .mployed po .. o&O (.uch .. 10 the cat'lory of i .. ",umco, hnanc •• "Dd .*01 ....... in .h. Doll ....... .

Ill_ )


Tabl. Z

EMPLOYMENT IN TilE DALLAS STANDARD METROPOLIT"N STATISTICAL ARf:A

1960 _1970

Number Of P ... ono ('ho""nd,) PHceotai;e

July July 'ill, J uly Induot.y 1960 1970 1960 1970

A8ricult",. L ~ . 6 , .. J .• ." I. ) "

Mini", • •• .. , '" ,. , Con .. ,,,,,"on )0. 8 47.6 .. , •. , M.nul.<.,,';ns 96 . 9 161. l ll. 1 n.9

Durable Good. H . S 106.4 )1. 9 14 . ~

Non_<!ur~bl. Good. n. ~ H.B ,. , '" Tu",,,,,,,.,;oo, Com_ municotion. , .. ]J"t., ••• lb. 1 5S. 6 ,. , '" Tra de ill.a 197. I 26. 8 l6. 7

Whol ... t. {1.2 68 . .. , .. '" Rot.n 79.8 128. 7 17 ... 11 ... 'in.nco, In.ur.,.,,., and Rul "stu. 14. ) 60. 0 '" .. , Suvlcu.!/ 75. 8 ill. 6 16. S 17. 8 GQve<nmen, 18. 1 66. ) .., , ..

Tot.III 459 . S 7l7,6 IOO. ~ 100. 0'10

1.1 I"dude. 1'''''00 • ...."klnl In h"" •• hold., l/ T",.10 m.y no. add due to indo~nd.nt Nund,n,_

Sour.e, Tex .. Employment GonuniooLon and 1O:."nomloo R .. urch A .. .,datu.

111- '


Tabl. )

£MPLOYMD<fT IN THE FORT WORTH STANDARD METROPOLITAN STATISTICAl. AREA

Numbo . Of P or.on. !thouundol P • .oon,ai;<

April Juno Ap'l~ I Jun. Induo .. y 196011 1970 1960-:. alO

",. Icultu r . , .. '-' L ." 1. l'-Minlna U U , .. .., Con ... """,,," 14. L IS. ~ ••• ••• M&R .. hc''' rl~1 51>. I 'Z. 7 Z6. 1 )0.0

O" .. bl. Good. n, S 711.1 17.9 U.9 No"."" .. blo Good, Il.S Z I . 9 .. , U

T .. ".po" 'UOft, 0_. mu"lu.ion. oDd !.:. I\iUu 11.6 16. S .. , .. ,

T .. "" 44 . I ?S.S ZO,S H. S Wtlol ••• le ••• 17. 4 .. , • •• "' •• oU lS . I n. 1 II.. ) II .•

Flnonc •• Ino .. . o""o ond R .. , E.t. ,. .. , ll. 6 •• • •••

Suvlu.Y n . G 55. 5 26. 5 18. 0 (';ove . "",.n. 10 . 1 ll.6 ' .. 10, 9

T",.l!' l 14 . 8 101. 7 IOO.~ 100, 0'1,

1 1 8 ... d "n 1960 eno". ""'-". l / Includ .. poenooo worki,.. In "-oebol d •. II Toto\. moy not add d_ ' 0 I",,*poe"""'''' roundl ....

........ c., U.S. COU". 01 Pop.tlaUon. 1960; Tn .. £mpl...,....nt eo"""l.oI .... ; ."" I:c .... ."..'u It.,urch ...... "d.\u.

- - - - - - - - - - - - - -To", •

""''''''~ """~I."T "'" or OUIO"" .. Of" THE ...... L .... AND F'QU ... ,H .. nO'OI'OL.lT .... AU,," '_.",.

. .. .... n_ <:. "' ........ ,-, ................ " .. .., .. , ~,

".~ ... , ... - ... .,. •••• .. , .... '" .. , "."'·IT,'" ~, .. , I ••• , .... . t .• ... -.... - .. , .... "0' " .. .... ""-11'.'" ... I II • • 'n.' .... .. .. " .......... .,. 11. , '. , _t .• , ... '. ..... ....... ""', -'" !. I ...!1..! ••• ---.!.2 T_i!1 .... , 'M,"" .... . IN .... "', .

1/ , ............. . I, """,.,_ ... _...... I. If. !, ........... ,.- .. ". "' ..... m! ....... " h,'" r..,n. ., _ .. '00 ... _...... I. ,I. !I T ....... .., _ ... _ •• ,_ .. _ .......... .

Do' ...... '" '''to

_""' c •••••

•

... ., .... , . " .. H.,

",' II .•

,., , .. " ,

'KK

- - - - -

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CLIMATE

Althou,h <lim.tololieal da, •• ,~ avail.ble lor both OaLlu and Fort Wo<th. It wu oonoideTed .pp. opri.te to .n.lyu , •• H.tk . only lOT 'he form« due to tI,,, proximity of the two ••••• . Climatolol;c.l d.,. He p ••• ented in Tobie S. On on '''<luai bui •• the <\;'n., .. in 'he ue. con bo <.tolor;1ed .. mild. Certainly . the win .... ar. mUd. with few <old ' .. mpe " '''« ex« .. m". and linle .nowhU. 110....,""'. bllh ""'pe r,turu and humidity are common In 0.11 .. dud"l1 the 'urnme< month. of JuLy and Au,,, •• , The ,vU'lIe temper .. ",,, of the arn .. niH from. m;nlmum of 55.6 decree. '0. mulmwn of 7. de8reu, the .ven, .. annual p.eclpitatlon levd i. 14. ~S Inch •• ; .he humlcl;'y .veuJ" at nCOn i. ~S puce" •• n<l .. 6,00 p. m .. ~I p«<en': .nd, over .he cou'" of. year, It can he upe«ed that .unoMn. will occur 65 p .. ce". of.he " m •.

Contra ry.o popu!H 0p'''ion, a div.roi.y at fi ... ·, ••••• tr«UOni in an ace> can ac,u.lly ,n«uu .... nd."c. l.velo ., u<h individual facili.y . And .• h. m"f< widelv known .h. attracUon ••• he mOre vi.i.o .. HO likelV '0 b. drawn.o.he H". A pdme eurnpl. o( .hI. trend oxi ... In Sou.h • • " C.Lifo.n!a . TM fir .. ,"racti"n to lie"."" Lorll' vi.itor volumu in .he Ue' w .. Oi'''''VL.nd; however. vi.!.orS'o m,n"yla"d .1.0 ,rav.l.d '0 ma"V OI'M other "',jo, ,"ractions in'M ..... and .heir repe •• ed vi.I •• • tio" '0 Sou.h .. " C.liforni, hal «ea,.d mark ... for n.w f.cilUI... Cer. tain!y. Di.neyLa"d \0 .till .ol.ly ... pon.iO!. lor .uo ... "tial vi.itotion.o the ...... lthough it. vi.ho .. 0100 punke of the ddiah" of .uch .. .. a"ra<tiono .. S .. wo.ld. Kno .. '. B .. ry Farm •• nd othee fir ... r .. . (,<iliU .. . Particularly no.obl. in this .. ,ard!. Kno"·. B ... y FHm. wh!ch. " a con>p • • ativ.ly o!d ,","ction. expe';encod declin •• in an.n . donee in the rnld.1950 • . However. with .h. construction of DI.n.yl.nd .nd ..... ruuUing .ddod viaitotlon to the .,ea ..... nd.nc. at Knon·. n ... y Farm in« .... d d • • m.Ucally •• nd. 'oday, .he 'nro<tion ,«.iv •• 'OOU' four million vI.ito ... nnually.

On a much ,maU" •• ul •. Si~ Flail' OveT Tn .. h .. p r ovid.d the urne kind 01 Unpe.u. in t .... Oall .. _Fort Worth ..... !" ract. it •• dotence and the >v,H,bHity of p.oxlmat. d •• i.abl~ land hove <au.ed Notion.l L.ioure, Inc . . to look ... efully at the ..... !n .h. (o!Lowin, p ...... ph •. • he oper";nll ~x pe'i.nce 01 Six Fl.,. lo .n.ly .. d. lollo ..... d oy 0 mO'e de .. iled ",.ly'!' 01 .he p<opoud WoT\d 01 Anim.h Puk.

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o~ ,"" ...... 10 ... [cU, of «ope ."" ....... p •• II •• <IilIere"c. be • ....,.n WOt\d of AnImal. an<! 'M propoucl (,10& C .... "'.y Saf .. l h ~o •• ~I>.untla\. lI"wncr, Lion eo..u..ry Sof .. i ._Id h ..... olloinunt!y .,utu o<lunu,e In ,um, of , .... Uo.>. 01"". "",.t vi,I , ,,," to ,lth ••• .,.oction will p.obabLy .[olt $", 1'1 •••• and Six Flo" 10 moot p . _Imo •• '0 tho l~ ... ion te",.,,,,,ol, .. lo .. od fo r LIon Count<y So.f .. i. A. p •• ",,,,,,ly not.d, World of Anlmolo will .... \...,.,,,d h. Me.quite, 'pp,mdm,'oly )0 mil ... outl> of the p r Qpo •• d LIon Count', .n •. Thl. ,I •• \0 IDCat.d obo\l' lou. mU .. ofl Int ... ut. ZO, ond u l •• \", acc ... 10 by. two_lone cO"'"Y , ood .. Mel> dou no. have, mojo< \n,.,. " o"l< Unk ,,"tth .he 'n.u,U'e no,wo •• ,

OU.e. Au.oellon.

No o,he. "'-./ ... ... "Ti".o,lo",.d roc,uUOI! .... action. In 'M Doth._ron 1I'" .. " .. u hue o.o,,<I.d o,..,,,U,,, .... OftO . IIo"",n r. the Tu .. SOo •• rolt, ""ld 'nnuaHy I .. Dollao. \o.he I.r, ... o¥en' 01 ,n kind In .10. Unl.od So ..... Held in 00<.0 .... ot ncb yu, o .. ,tln, on ,bo flro. So.u.doy of.he m01ltb _nd '''''fti,.. coft. L ...... uoiy for 16 d.y ••• bi. anrachon ba. b.d a ....... u.\ a""...tonCe io • .,u'" yu .. appr oocbln, .b,ee million. Tho Sta.a Fair po rk , . ounda. OWftod }olntly by.he Ci.y ot DoU •• and tI •• Soat. F'lr of Tax ... inc .• enc"",po"" aome loo .c .... ,.wi . h" totaL complu. Inc:iudiftl .he Co"on Bowl nd .mu •• m .... pork area. ,ep.eunn on In¥ .. ,me'" l ey"l of rou&bly 56§ m\lLl .....

Bo.h Dolla. and Fort Worth hno Olty _o_.d 100'. The D.LI .. f.olllly comp.h ... omo ~o .c ..... nd ."p .... n" on Inva"m,,'" 1"",,\ o( SJ mLlllon ",hlle 'he Fort Worth Zoolollcol Po rk .ncomp ..... ZJ ..... and •• p •• un .. 0 ,otaL Inveo_oM of $1 mll1lon.

SIT!': ANAI..YSIS

The location of.he aLte und" • • 0,,01o:1 .. al1on for 1..10fI Country Solo r l \ •• too .... In Ft, .... 1. Immediately adJacon. to ,ho DaIl .. _Fo •• Worth T .... plke. ,ho .Lte io 0w._;ma •• Ly 4.' mil ...... of Sox Ftalo Ove r Tex ••• ,nd \0 ' ...... Lly bou.wl.d by 'be T.lnlty RI¥ ••• R .... d I"~. and Selt I..". R .... d. It Lo ."mp,hed ot app.""lma •• !y 470 u ... of II .. for'" land which I. o •• r l'o ..... wI.h .h",bo. """"d ..... cr. and h .... Di rect o.ooe .. 0(( tM turnplko \0 p r oYld.d by Ddt 1..1 ... R .... d. The p , opoo.d rllh,_of_ .. ay fo r L .... p 9. on ou,. , I"'ri"',,'e' Loop deallnod \0 clrcl. Dalloo. \0 Imm.d_ la •• ly'O the .... of'M .!le. whll •• h. p.opo •• d T r inity VaLle, F • .,e .. ay

llL_10

-------------------

.... ~,," •......... n~u .... I

PROPOS I'J) LOCATION 01" 1.10'1 COn,TRY SAF"AR1-TrlfAS


\0 . .. b. I .... ' ~d dJ.ocUy to .h~ north. A'.hoqh .... c ....... uctl"" tim. porlO<l hat bo.~ '*' by- ' be Tn .. o.portmeno of lll." ... y' lor .heoe._ ..... d.I •• It L. cOBcc;nble 1M' boll> wilL "" ""<It " r at lea •• be,,,,, withlo t1 .. "',," •• von to oi,h. ynn.

The Pallu dow>l.o ....... . .. I. 'pp.O>clm ... ly 10 miLu to .he not of .... propo •• d olte, ... bile Fort W"rt" Un abou, 10 m!l •• to .he ...... . Mo ..... p r oYlo"oly di,e" ... d . World of ",n'mo ' . L •• hu.t,d .oy,hly )0 mIL .. '0 the •••• ,

IIl.ll


Soclioft IV

"'ARK£T ANALYSIS AND ATTENDANCE PROJECTIO!<S

T"" p.oj.cU<>~ of .... "d&nco for an &\\ n.lloft ouch .. Lion Country Salorl h accomplhhed by deHnln, 110 marko, ."". ceo .nd de'ermini", the ~roen\.,e of th ... mark .. ''''HCeo 'M' to likely 10 vhlt the complex , In ,hlo oocOlon. ,100 mark ••• rU' for lAOft CounUy Salul or. dehned and onolyud, and auendanu h projected II"""," tho applicatIon <>r oelec.ed m .. hl pan.trotlo" ... eo b ... d on tho <.I,,,an. ox,...lone. of other com_ "" robl. f.cHltlc.. the ch ... cterl • • l •• of ,he Lion CO\O"'ry Sola d_ Tu ... marko •• 0\1 •••••• ...t the n.o\uro of .h •• !t ... llon [tooll.

DEFINITION OF MARKET AR£AS

Tloo potential market avaLl.ble.o I..lon Country Sal •• i dod.eo from t_ ...... Ie .""'uo __ ..... ido" .. and tour,"lO. T"" .uldoo' ma rko. ha. 10.,. .. dlvlcld h"o ."".rn. on ,h. "" ... 01 automobllo ".Ivlo, timeo f r om Lion C .... ntry Safar! • ..-h!lc.he 'o ... !.' ", .. h. I .... ~m.d.o <onoi .. 01 ""._ol_ •••• e. ucru.io~_orien.ed ~i.I 'o,,'o ,"" D.1I .. _1'o", \\'" .. 10 Inl.

REsmENT M ... RKET ... RE ...

Ot~H r.c."" ""ina .quo!. .he p r openol.y to vl.it ••• e .... ,;on .. trlctlon .u<~ .. Lion Country s.r • • 1 d.er ........ 1>0 dr!yini diat.nce 1>0 ....... pl ... of ... Id.nee Ind 'h, .tlr.etl" .. I .......... CO"'''Iuentiy. it I. Imper.tlve 'hot ,he "'u~e .. be nte,orh.d ud divided On .he bul. or d.I~ln, .Im .. hom .~. racLllty. Thu ••• b. r .. ldon. mar~" fo r LIon Country Sof .. 1 ..... b.en diYlded i ... o four .,,10 ......... k" .... Ie Filu,,~, The •• ..... ar. dofl ... d .. pr!m • .., ... cond • .., ..... I .. y. nd .... of TUII.

P.lmary ......

Tho prlmor, m .. h. area \a <ompo .. d of .bo .. perlOn. IiYl"1 wI.hln. ~O.m!L. rod!" •• o . 'pl'. _lm."I, 0 ... """". dr!ve. /r.,.., .he DaIl ... Fort ..... o •• h ..... In<O\uded j" 'hh U"lor, ... 1~ counti •• 10

IV.l

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* L_<-' __ . ... _. 10 ... ., ...... _ •• -... -,;., .. ""--~,., _ '''', .. . I''' .. t>O_ ' .... ~ ... D ., .. .. T, .. " _ no .. · •• ,_ ~'"

RE SIDE NT MARKET AR"AS " OR I.!O~ CO~·lo.'TRY SA,'ARI- Tf'XAS


no .. "" ....... Tu... n.. p<>puI. ' I .... 01 .hI ........... tlm ... d at l.l80. 000 \0196', wI.h projectiona caUlo, fo r \" ..... .0 to Z.~I'.OOO \n 1971 ond l. I S4. 000 by 19'0. ).Iou thu 9S po rcent of 'M ... Ido" .. o f .he uu cune"lI, Un in 1M OaU .. . FoU Wort" """0,><>11'0" "uo, ond ,hi, !"run'o"" _ Ill<dy'o dec . .... 10 fu tu r o ro ....

Tho .. "" . ,ono ,eoldl" , wlthln. 51. ' 0 ISO_mil ••• d\uo, ". """. t" ,b . .. . """. ddv., of 1m. OaU ... F"or. Wo rt h o r ..... cat'lorlud .. • ho ... onu r , ma r ket aru . TM. 'r .. c"mp r l ... [] ."",he,,, Okl.""",. <o"nll .. ond Sl Tn .. <"untiu.

c ...... u, . ... ;u .... ol , hfa .r .. II". to<> I •• 0""0,." bo f" .. un!

_ok<lo, vlollo,"'o an ''' •• ction ouch .. Lion C ..... " .. , Sol .. i, bu •• ,,(fi. el."tI, do •• to ... eod on , W<lek • ...t da,. Th, ,,, •• 1 popWo.lOtt. 01 'he ueond .. , . . ........ Umo.ed o. I, S7l •• OOG 10 1969. wi, h p ... joe'i"". calLI ... lor ;,,<:< ..... to I. 608. 000 by 197 L ... d I. 7S1. 000 10 19811, A ."h • • ontlol "", . ti .... of .1>;. a.u i • • unll" ... ," • • . The onJ.y lar,e meno. "",U.an a . .. I. Wac". writh a ""'''''1 .. 1 .... of ._. 110.000. althou,". numbe r of .0 ...... wI,h _lahOilo i.J>.be 10.000 to l~. 000 n",o a • • ou .. ued Ib . oul_' t ho 0 ....

Thl .... Ideo' market ."be ...... ry h.o!ud .. ' 1>0,. »<0.00 .. 0 J;ylni wllhh. 0 lSI. to lSO · miL. udl" • . o . a .b ... . t .. fou • • hou. d.lye. of Doll .. . Fort Wo .. h. Incl"ded 0., pacto of fe" •••• teo •• J4 c"untlea In 0101.1>0 ....... 10 CGUnlioo in T..,. ... 11 co"ntl .. 1ft .ou,h ... o",," A . ka" .... and 01,'" c .. unU .. In "" .. h ..... tun Oklohonl •. T .... "",,,,,IOIlon of ,he or .. I" 196' ..... oo,i",at,d at &.lS7.000. writh p.o"",otl ..... calli,.. (0. loc.oauo te 6. 51S.000 In 1'71 and 1. 6Sl. 000 I .. 1980. App,ol<lrnOlely SO »<O.COD' .. ( th. "",puJOII_ '0'1".10. , be 'ortiory .... II .... In ", ... _li,a .. aruo wI.h _I.U ..... h. uu .. of 100.000 po •• o .... lodud.d ou Soo An'onio. U"" ....... Au"ln. Co."", Ch.loU. lIu .............. d Wichita rollo. Tua.; 90.0_"",". (...""1.1 ...... , and Oklohoma C;oy ond T"I ... Okld .... "a. ADOth •• 10 to lS porcon' .. ( ,be '."Iory .... """"loti"" ... 1<10 1ft ",edl"", •• i.ed au .. of ."".hi, so. 000 pora .. "o.

IV.J


Tha, portion of ,he popuLation oJ Tn .. bey"""" Z!oO.md. ud,~ •. or f"".·hour old .... , of n.Uu_~or' Worth h c.,...Lc!e .. " .. comp""'" ,hi, cat.,o r ,. 1ft actuahty. many .,.. •• .,1 •••••• vI,,,o.a to o..U .. reo,"" elooer.o tho o..nu_For. W .. ,," .r ... han 'M "" .. ono );y,,,, In .M, cat._ ,o r y. lIow.""., 00 ."" • ""'r~ prodn .",Iyolo can be mode 01 the ,.,..rlot morke'. 'Moe "oiden" havo b .... cL ... !fld In 0 reoident ",uk' cat.,o,y_ In 1969 .• bout lS poreen. of tho l. 391,000 "" .. ono .... ho livod In ,hi. &Teo , .. id.d in four "'.'.0",,11'0 ....... __ Lubboc k. Amarmo, 1':11'00", ond AbUeno. Ano,hu H p"reont liv.d In .moUcr ,.,w"o 01 H.OO" • ., SO , OOO peraon • . while the remolnln, SO "" . <en, ruid.d In very .",aU low", of cu r ol od.nt.tion.

Tile '0'01 . ooiden. populoti"" of.be prIm ... " aUGo""" t."i .. y • • ,,01 rut 01 Tu .. ruldn . ..... ,hl oubo.oa ........ Im.,ed at 1J,6<14.000 '" 1969 .... "" ..... in Table 6 . ProJ.ctlOfta lor 1911 Inehu ••• ~, ,1>;. 'otal _II hay. I"" .ea •• d by 457,000 10 ,0",. 14. 06 I. 000 pc ,"ono. ",h.d. p r e;"<:,;on. '0 19S0.how a pop~lation 0116. )49.000. 0. l.lU.OOO "'0 ' . pc .. oo, ."". I .. 1971.

TO~'I\IST MARKET AIlEA

Ou •• ol_a.u. '''''.i .... o .he D.LL ... ,.o" Wor.h area repr •• en. 'he .. co .... ",ajo •• o~.c. 01 po'entiaL a".ndane. '0 Lion Ce~n'.y ~ui. In foe •.• hay rap.u.n. a ".onBe. po'.nllallor vl,lUtion 'han do .uide"U 01 any o,har .ln81. mark., cote,o.y . It h Importan, . ,h •• oIore. '0 claarly , .. 'de ... and ..... compO.i.ion of .hI. mark ... Ilocouu of .h. TOI .. ive impo._ 'OBC. of .ou.i.m.o .he ..... ' •• ravol aco""my, ,,,,,.-l., .utl",c •• ypic.LLy .nclude all ...... _of_ ..... reaiden .. u ... ln •• h ..... . for o"Y .... on ... any tim •• a"" for any duration. 00 lonl" ....... pc .. o ...... po.ontlal !"',_ eh ..... of .uch loed •• nd ••• vl ...... 0001L ... a .. d room a".o"""o<I.tio .... 1I0 .... v.r. In .onai .... . in' '_r'." hom ,ho .. udpoLn. 01 potuUol .uppo<t fo •• ,,,,,,ell!e kiM 01 co",",ercbl rou .. U"" ,u.ac\l".,. a d,ff',e"t •• t of trUer .. ".pp.opr i.... Th"a. "".I ...... m.n .. avohnt '0 0.1100 0 . Kov..too for a .... ' do _ ••• p .... n> .... jor po ••• tlal fer an , .. "c"oo ,,,~h~. L.ion Cooontry Solari. Co."' ..... I,. vacaUoal"l famlll ••• O .... D'.M ........ p.lme «Ddld .... for ."ch n ~U.~etlon. h ..... " ••• then •• 1.;. otudy i, eonc .. ""d ... "h .ho •• pc .. o" • ....;.h a "av.1 o .. o"ullon p .. mariLy '"",ard • •• cr ... lon.

lV_4


Table /,

DELINEATION OF' RESIDENT MARKET AR£AS FOR LION COUNTIIY SAFARI_TEXAS

1~69_19aO

19b9 1971 1975

Pcimacy Mac ••• Area 10.50 m,)eo) l. lBO. 0 l.~I?_O l,712.0

S.cond .. y 1>I .. k., ..,en Is \_I SO mHul 1,576.0 1. 608.0 1. 673 . 0

Tcrli",y Muht Are. 115 1_250 m\Leol 6,J57.0 6.515.0 7.0H.O

Rclt · OI_Teuo Make' Are. Ibeyond ZSO milul ' ,391.0 ) ,459.0 ) , 599 . 0

Toni 11, 604.0 14 . 061 . 0 H.enO

I 980

1.156.0

I,H8.0

7.6Sl . 0

),783 . 0

16.H9. 0

Source, Salu Ma,.."e",.", Survey of Huyh'g Po"" •• o..llH Ch.",b.,. of C<>m"'.rce . and Economic. Reoureh A"o"i., •• .

IV. 5


To eo,.bli,h. realistic I •• m.we,k [0 • • n.,y.;n~ .nd utim. linil ,,,,,.i., ,up,,'''"' for I-i"o CQuntry Safari • • he ,ub"que"' di<eu .. i,," •• vie wo v,';ouo .'P""'" of ou • • of _.ute tr,vel in T.~ •• • Fi ... . '~ volume of Ou' · ol.ota •• v.,"o'" reportedly enterin$ T.~ •• i. Hv;. ",.d lout.of ...... vi ... "," u<tud. tho •• I"'nono «,mmuting .cro .. . .. t< hnu lor 1"'.pooeo "f employment\' 5"",. of the more innu""h.l f.cto," .rl.c.in~ ou._ol_ot.t. ".ffie flow In T. " u ar< .h." diocu ... d, foll",,'.d by an .naly.i. 01 ouch '00.1'''' .horacteri,tic. ao "rlgln ,nd deo,inatlon. ,noon,li.y 01 travel. aV"'.ge l ength of '''y. and party ,he , The di,cu"'on i. concluded by .he develop",.nt of on utlm ••• of the volume of ou •• of." ... vi.i.o," which <onoti'u" the .v.iL.ble touriot market for Lion Country s,uar •.

Thi. brood .ta'.wide .eview "f '"uhot ~ctiv"y in Ttxaa h baaed "0'1 d~'~ p.ep.red by 'he T ... el .. o Inf".",a",," Divi.io" 01 'he Tox .. lhinway Pepoe'",en!. Altho",h ,h. d~ ••• ef ... o highway .uvele" only . ,ucn .uv.I ... '.p .... n' unnti~Lly all of .he j><> •• nti~1 .".nd~n<. fO' the p.opo •• d ..... cHon . •• "'0" pe"on. &<"v;nlO by a ir .r. bu .. n ... ",en • • "d. a. ,uch. do no' repre.en •• ilOnifi<~n' po.e,,'i.1 .uppo." Th •• naly.io of '"u,iot pa"e.no in .h. Odl •• _ro" Wo •• h Hea i> bu.d on exu'j><>I .. ;",," {,om ,tw. •• d ••••• wdl •• On an evaL"ation of c""e.' and projected ".!He pa" .. n> on .he in'e,"a' •• nd ""e hillhw.y ne,wo.k> i" the ",ea.

0.,, _01.5"'e Tnv~le.a To To" ..

Baaed on.he 1%9 Teno Vi,itor I.du",y fl..po'" 16.2 mllUon 0"'_ of_ ... te vi,i,,, .. (hilhway ... v.I'''l on,."d T.~ .. in 1969. Project"'.n, 0" ,h. baal. of pu, g.ow,h '" ... (av ... , •• n"u,l nte of 4 pe.cent!. f"rtne< indicate ,h ... he "Urn"",,. of QU,_m_ot"e vi.lto •• ....:ll ,each 26 million by 1990. The T." u VI.lto. lndu ... y fl.'j><>" ,100 .evuh that appr", im"ely 20 pe«."' of tbe vi.ltor, '"",ing 'he ..... do 00 for bu._ in ... p"'po •••• wher ... 90 pe.cen, co"'. for ,e.rution,1 and/", pe .. on.l rea.on • . On .hi, b~.i,. app.ox;,,,atdy !l mllLlon ou._o(_ota.e vi.ito .. cam •• o Texao 10 •• ecrutional 0' peroon.l pu.j><> ••• in 1969. A .. umlng th~t tn.. Urn. p.oj><>,tion. will """ applicablo In 1990. 20 . 9 million of .he '0,.126 million vi.ito.a '0 Tuao dU'i"g that y ... will """ .ec,u'ion_ o,lont.d.


A. noted previoUSly. a de[;nu"on QI out_o(· ... ,. tr.velor. to Teno i. n,e"ti.l/o, .he .<Cur'" .n,Ly.i. 01 pO'en';,! OUPIK''' for Lton C,>unlfy S.fad. Sm •• ',,\O,i ... dWu oub",nh.lly Irom .,.t. to ••• te, ERA .'udied the <h.ract.d,ti., .nd Ir'vel p'''.,n. 01 '0""'" to Tex •• , The lindin~. r'v ,,'wed her ....... ouch ch'a.'. r i",co •• , •• ;on.1 con" .... 01 o"Kin, dulin.hon. and 1.n~th of "'y: .i'e 01 ",vel P"'Y; .nd ,ea,,,n.l .. d .. ,o" of vi.".tion .

Th. ""u f,om which .he Qv.r,,"helmin~ ""joro,y of v;.i,on 10 ThU ",ii,n.t. or< indicoted in ,I>< following text lObi"

Por«""ge ~ St.,. Vi.i,o • • To Te x ..

Lou; ••• ", 13~. C.hlo,ni. " Illinoi. , Okl,ho"' a • FLod"" ,

To •• l ." 01 the rom.inin!! ".t .... ·hi.h contribut. vi.it.ti"" to Tu ••• no, on. <omprioeo "'or' ,h.n 4 perceM Qf .he .0UI. and moot I,U within II>< I 10 l I>"r<en' ,an3".

Du"nation And L"no,h Of S •• y

If. con.inuwn "''','' '0 he d .. ...." rep ... "nt;n; ,h ...... ," len3th of .t.y of out_o( _.t.,e v;,i,o," in yulou. "".0, ,h, •• diltinct Q.oupin&o "'ould r •• ult . A, 'he low end of .h. continoum would b< 'ho'" ...... which typic.lly ore 'ermed hridg •• "'eo, on ,heir w.y '0 otheT d • .,inotion,.

th'ouQh whkh ou,_o(_ou.e vl,i.o," pa .. !n 'he middle of 'h" con,;nuum woo!d b<

IV.7


lho.~ " .... ,,'hich .. e quo.i_d."in,.;on orient.d . i . e . . p.rt of. r.~ion of (ou' Or hvc ""co v;.;«d by ,,",·.Hn~ ("""lie, on v • .,a,ion . Finally, a t 'he h'~h end of ,h. C""""""'" woold be ".'u ouch ... FlQTOd. and Camo."i. ",h;<h ' e preoe,,' rl •• h"otiQn_Q".,t<d un •.

L .. ng,h. of "'y in ,h. bridge "", •• n"8e on. ,,, l.5 d.yo: in .h. q"aoi_dutiMtion .. ,t •• , l . 5'" .Ix dayo; .nd in duhution.'>ri." .. d O<UO, «von d.Y' IC.Hfomi . , ,,, I~ d.y. Wlo,id.). The .ve' . ~. 1.n~'h of "'Y in r .... i. 5. ; day • . pl.ci"~ " "ur the hi~h end of 'he qu .. ,_d.,.tin.hon <>leg'Hy .

r .. ·.nty_.ix pe«."' of 'he ".vde .. o",veyed in 11>0 1969 T .... V .. iloT Induo"y Reporl lnd,cued 'hel' d •• ti".tion .. S.n Antonio . Te" pc«.", indi.ot.d )lou""n. while ' PP'Qx;'n • •• ly 16 peteen, indicated the dulin.t;"n of 0.11 ... Fo<t Worth . 0. Six Fl.g. OYe. Texa •. It i •• ignlli_ <an' ,h ••• hen nguru ropruent< d m . jor 4 •• h"ahon. only • • nd did not con.id .. other aru. ,"",.hin the .... e v;h!<d by , hue travel ... . n.c.uu 01 .h. h;ghw.y n.'WQ,k In T.xo •• nd con.idering the o'l~in 01 out_ol_n.t< v;.ito ... " !. ERA'. opin;on that .pproxun.tcly lS puce,,' or .he out _of_ ot.t. vi.ito,. '0 Tu •• in 1969 p .... d .h,OUih the O.\iu_'·ort Worth .....

P.rty Compo.ition

Perh.p' .h. moot dil/,Cull vi.ito. charac'",;",c '0 &.u~. accu r ately i, .b •• 01 PO"Y cmnp<>.;,;on . Th. 1969 Tex • •••• vel ",udy indic ••• d.n ~"e .. g. p.rty .i .. of l.S v;.ito ... Thh Hgu," wo. rop •••• nt.tiv. both <>I ou,_of_"., .... v"I ... on bu.in ••• and ,ho .. on ,ecr •• tion.,yp' trip • . II. "'"" .. t ,av" I ... 'yp kall y do no. have roo r. 'hOn On., 0 • • o",,,.i,,, •• 'woo p","on. per car . .. "ding to lowe. tbe .ve"ge <a. occup.ncy •• p<d.lly dunng 'he .mnm". "'on,h. when counted •• touri ... . C.n.rally . howev., . "dfi •• "rvey' th,oughout the v'';ou, .... '" ind,,, ••• that. dur;ng the f.ll , w ;nte • • and .pring. 'he .v"r'lI. out_of_ ..... ,e«eahonal " ... 1 p.rty hu .b"", t . lS peroon. per C'" whU • • durmg ,h •• urnrn .. mon,h • • ,hi. o<cup.ney f.C'OT ;ncr ..... '0 .bou' 3. ~ pe T.on. pe r .utomobil • .

S ••• on.li,y

Allhough .h. T u .. tr.v. l .u . .. ~ did no< con,id .. th ..... "".h'y of 'ecru,ion_ori.n,.d .!.;taUon . •• v ... l ind'c.toro are 'v.il.ble wMch .nable d.vdopm",,' "f • • ypic.l mod.l ro, .h. ,'.!e , Th;. includ ••

IV _ 8


.ttend.nce~' voriou. nat,on.l paTh .nd ••• ,ho'" wi,hin .he " ... ao well • • • t S'x n.~. Ov., Tens and oH ... m.jo •• ur.ction. lou,.d .lo.wh ••• In .h. ""c. ERA h ... nolyzcd all pc",,,.", f.ctou •• h. rHu'" of whIch arc p«.nl.d in T.bl. 7. S'xty p<rcut of out . of., .... v;,.'o • •• " Tex •• a..,"" ~ti"n~ 'he 'ti"'">O., while ,h ... ',n,er, .prin~. ond (.L1 month. aTe reprenoled t,y 6 perceM. '8 pcr.ent. and 1(, peran •• '''poe"vcly. Inlor •• t;n~ly .• "",mu ,n.on vi.i",;on i. 10 ,;mu ~reot"' th.n .h., which nccura d"rin~ .h. winter ",on,h ••

T<mri" M"ket Avail.blT F"or L,On Country s.r, ri. Tex ..

A. p.evioti"y oUted. out_of_ ... ,. vi.i,o ... nterin~ To.a. vi, h;~hw.y. ruched a level of 16 . l miLl,on in 1969. It ,. fu •• hcr projcct<d ,h.t ,hi. lo •• 1 ",ill .e.ch l. ",iWon by 1980. I;xtr,po''',ni for 'he in.erim ycu. of 1971 'nd 1915 ru"U. ;n 18 ,nd 21 million out_of_ ..... v;.i,on, rupect;"'dy , for 'ho.~ yun. Hued on P'" tr<nd •• 80 pe«cnt of ,he vi.itoro "-'ill b~ in 'h~ .lOte for rH ... t;on and/or !",roonal rea.on • • indtu"n~ that 14 . 1 miWon recreahon_oriented v""Orl ""m e"'er Thu on 19;1. in<'u"n~ to 16 . 8 ",m;On;n 1975 .nd 20.6 milli',," by 1980,

The.e Ii~\"e. require further .n.lyo;"o de' .. ",;ne ,ho.e vi.i,,,," lik.ly '0 P'" 'hrough ,h~ U.ll •• _Fo<t Worth area, I . e . , po'"nhal.tten_ dee •• o Lion Country Safari. n.nd on put tr,vel ""diu, it i •• "Im.ted th ... pproxu" ... ly H puce"t of the ,«,eaHon_od"nted vi.itoro to r"u. p'" through the o..llal_FOr' Wo"h ..... On thi. bali., the potentl.1 tOuriot mork.t for Lion Country Salori wjll ,each 3. 7 m;mon 'n 1971, in.r . .. ;n~.o 4 . 2 million in 1975 and S.Z mHEon by 1980.

Current pl.n. ,odic". 'hat .he ." ... tton will bo open y .. ,_round: .ho>rcforc •• he Unu.! 'ouri.t ",.rh. doe. no. "'quire f ... rther ",fin.",,,n' for tho> eondltion. o.f the ope .. Hnjl period.

PROJECTION 01' ATTEND .... NCE

To eomput< .ttend.nee projecuon. for \";on Country Saf ... . it i. hrot n« .... ry to «",.id., the f ... th>.t ',,",0 co"'p ... b!~ attr •• hOno __ World 01 Anim.l, and Lion Country S.f .. i __ wi!! be con.tru ... d in.ho> D.ll .. m .. .." ".'. On t~i. b .... , tot.1 a ttendance muot fi,,' be projec •• d for

IV _9


Mon. h

l><c . mbe. Ja"~ • • y r.b .~",

Subtot.l

MM~h

Ap .. r ",'

""'1>0"' 0)

Sun. J~Ly

"'"lUll ..... "'0 .. 1

Sop"",be. Oc,,,.., . l'" • • ",b ••

Subt"tal

T~ .. I

Tabl e 1

SEASO:< Al..lTY or Ol'T _OF .STAT£ RECR EAT ION _O RIENTEO VISI TATION TO TEXAS

P~r<.n',,~ or Annuor V,.".hon

!", , , " ,.. , • 18".

'" " " .~ .-, ,

16'"

.....

_ r eo, Economic. R ... ncb ..... oxi •••• .

I V . 1 0


botb f.cll",.., a~d a <l<termiu",", 'M" mad. <"""''''''''1 'he p ... c""'a~,, 01 I .... total 1'''''''''.' ."Oftd.nc~ ... hich Lion C""""r Sofari t. hke'y'o .ccur •. TI" •• "end",u compu.ahon L •• bo ..... In ToW. 8. I .. ,ndiuted. muh. PO""""'"'' "'eo He apphed.o mOTh. 'r~' popul •• ;ono." .... .,..., . n"nd."". po'en". llo. the •• f •• i p"'~ ... uml"l no compoliti,,'" More_ ovcr, it i, cu, .... obL" t o HOwn" d"" 'he expO.ur. of , .... park. w>ll '..e,uo" """e",lol .""nd.nce t" probabLY 110 perun' of ... It..a. wov.Ld "".moUy "",., for 0". ,.rk. On ,hl. bu •• , r •• uJUn •• "endue. potentlo' for two .. fori pork. ,. proJ«.ed at 924.000 "hi'o •• l" 1911. Incr."'nl'O I.HI,Ooo vi,norol" 1915 and 1, 79',000v;.;." .. by 1980. Sued an ' he .;milod., 01 ,h •• " .... ion. and no, o\law;,,!! for Ofty <ompoUti"e .dv.n'.~" wIth rupoc, to location, I. would boo ", ... "".bl. to .pLlt ."e"dance on • SO-SO b .. i •. 11o_v ........ ted p<evlou.ly. Lion Coun"y Saf.,i. ,,, ,to pOtMUol lo~a.lon only 0l'p.oxim .. dy four ... Ile. ftom .s,. Fl'I' 0.., Toxu. I"," • d,,,I,,ct louho"ol .dvo",a,. over Wo,ld of .... n'm.i •. On .hi. bul •• it I • ... umed th ... fo, the fi ... two y .... of ope"tl"". LI .... Cown"y ~ar; ...,U ><hi ...... "endon.e I.velo .... wi¥.I.nt '0" pe«."t of.be potenti.1 .... nd.ftC. p'0.lected 10. the ,_ pub. ,n"" ... inl to 70 pe •• ent by the .hird YU" 15 percut io tbe hlth y ..... nd th .... r. .. 1 .... h1l' off .. the 7S per<u ...... Th .... In ,b.ol" .. t •• m ...... nd."onu projec.ed lor Lion C"".uy $&f •• i ...,U ,ot.1 SS4. 000 In 1911. In< .... '''lI .0 U I. 000 by 191 I. I, 148, 000 by 1975, .nd I. )~8, 000 by 1910.

T'" m .. h. pene'ra"o" ..... u.ed.o "'leul", the.e '''end • ...,. p.oJecUon. "'0" derived f."", d.tailed .... Iy ... of.he ope •• Unl '''perience of comparable f.cilihc . . ...... raction. H •• d U .widelineo Indude I..ion Counuy Safod_Florid • • I..io" Country .sola.I.C.Hfo."I •• S .. World IS.n 01'10. CaWo,,,io) •• nd Bu.<h Carde"a IV.n Nuy., CoUfo,ni.). The." an "ctlO", • ..., .o"' .... h .. <<>mpo .. ble In , •• m. of tho I , ." .. ".1""'0.' appeal .nd lenl.h. of ",y. and !"'n.t •• tlon "'eo .... ho ..... belo"',

Ltoft C-ntr-y Saf .. i_Florlu Lloft CouRtr-y Safari·Californla

So .... ·o .ld 8".~h C;arru.o.

I V. II

Total M •• ~ct 1'..,,,, ... 10,, R .... lP"'tuntl

l .... S. l (projocted for

fifth ,eUI .. , ..,

- - - - - -

•

- - - - - - -

'oU' ,. >."'-

•

r ......

' ..... _"" -",,,,, ... ,.,,.U

,".,"'M'

..-,ii. <.~_rT"'''W·''''' I". ,." '" ,m

. " ... ,"'.' <,m.

'."'.'

[. -. ' . ... , . r,_.' '. "0, '

.... , .. ...... . .. " ... ',"" .

""" r .• n • r " ""

' ...... ! ..... . ,..,.,

r ' '', .

".", . , .... . _.,.r. ,

P ...

>,"'"

-

.,I! '."' .. "r" .• r. , ... .

>, .... .

-

tf!!

>, ... .. ,,'"'' 0 . " r o'

>,'''.'

-

, ... 0. ,,, ••

'.",, ' r.,,,,,

-... -... - 1.'01.' ',"',0 ... . ~I~ ' .!ft . .. '" ''' ' . , " H. ' . m" ' .... '

".r".' ","',0 ,r,n •. ' "."'or ".m, . ",'''. ' ... , •• , . ........ ," ,,, ,, . ", .... .

l:r ? ~ :';l"'" ~r '" .".... •. j.

..... .. •• • • -. -, .... •• "r,o ",' ~

••• ..... ~ "' .. .",

,.., .. • • .. •• ~ .. '''.' ... . " .. "" ~

,-,,,,I

~ ". .... ,_0-" .... "

,,.. •• .. -'" ,~ .. ••• ..... ", r ~

', " '0' , ...... " ... 0" . "

,,, .. .. •• .. ~

••

"'" n' .• "' .. r!, • ~

'.'" . r."r •

.... l ) __ • _,..~. ~, J.' '. __ ."' .... _. ..--...... ~ .. -,--"'''r. «_ ............ _._.

..... .. .. .. ~

••

••• ,,, .. ,,, .. " .. ~

'. 'N,'

'.'''.'

''' .. ', '''., 1:1!!11

... •• .•• ~ ... ." .. '''. ' m, . .... ~ . ... ~.

... .. .•• ~

"'. ' "'.' " ... " .. ~

'. "'. ' .......

,",'"

•• •• •• ~

•• '''.' ".,. ..,. ~

" ' ~.'

< . . ....

",,'" .. .. •• ~

'. ' _. " ... ,,~. .... ~ .......

....... '.,"", ........

,", '"

•• .. ., ~

', "

.. " .w .• • •• •• ~

< .. ... .

0.'''.'

','" . •. m .'

"""

- - -


Tlwu 1"'...,,,.,,,"' ..... nb,'.n".lLy \"..... lh.~ ,"".~ upe"~I>C~d by "d~.""u,.d thorne puh ouch .. D,onerl."" and S.X na," On. Tn ••• .. h,eh 'yp,ulty upe".n~. <""" ... ,.4 p"n~"'Ho" ",u of n.o J.o p«cent ,,( .h.,. '0101 ....... ktt. fto ..... VH. ~<.w •• <>f U .. ". "d •• o" ... ,04 ""'0'., , ...... I." ••• "'OC"OftO tn ..... . . g ••• "".t .. ,.".U .... t< •• m<>ch "utH ... e .. t .han. faeth., "wch .. \'."n C .... nt.y Sal .. i .,h,Oh lu. " ....... " ... > .. ". ".,uU,n",."t.

IV. Il


Se.tlon ,-

YIXA."CIAl. A:>A1.YSIS

I" IhI, ho.al .ed,On of 'M ,epo". ,I>< (,nanei,l perfo r mance of L.,On C<>u""y Saf.ro.Tua. d~"ni 'h~ 197].1980 p"'jec' ion period •• du_ <u .. ~d. In de'.'''''.;''1 ope .. "",, exp<t" ..... " revenue.expo"" . at,oo, ,he <lie'" h .. t<que"'" tho' .he o",,'.tinl up.tionee oj l.ion Countey S,f"lo,lo"d, be uuo! ... bu •• 01 r.r.rence.

R[V[Nl' E PROJECTIONS

I'ho •• 00. revenue o .... ;n.d by. rec ... "On .'''action de"" .. d, upon ."."donce ond po .. up, .. opend,., Lovelo. Pc< UP'" open.h"l In . urn ; • • rune""" or II,. .".o.h_', opp"" .• " ... , .. 1 .... pohc,u. price •• be<lulu. .o1>d food ond "",rd","'h •• quo",y .

T"" dU,"'Qn .. ". 'M ,.",,1 of ",.,.1". ,. 00>0 of 'ho moo. ,mpo".n' laud by "",,,,.,,,,.nt, If ,_i •• l"" "dcu oU '00 10", ._ .... mn'", mnl"" .. "on of o"endonee. opt'''''' ... rove nu .. ""II no. be obu'.'cI, ConvcrlOly. II ,dmluion prieu oro ."" I>(,h .• ".nd .... ce may"" danlu . "".1, red~ced. Evuy .".mp' muot .hu. "" m.de.o optlmi ••• ".ndonc. ro ..... nu .. 'hr""lh .h. choice of .dmi .. lon pd ... th ... efle", the ,nte.t.;n_ ...... n. nlue 0. ··.i."o, l,,',,"ut quoUe"t· of tI." .","cti on .

Th. <ie ••• mlnation of vi.itor upe"di'~'eo at on .ttr.cli on i. m.d. 'h,O<t~h tho .. I.tion 01 le"I'hol ,toy ' 0 .dmia.ion p,'ce. Ba .. d on ERA', upo •• enco In ", ... c .e.tion~1 ... .. <tlon Held •• n '-'<iy vi.ilo. ' ~pondi_ 'u •• ofapp . _im ••• ly $1 . 00 I. y .... "y a tt.lned by M,h . q .... I"y a U.ae';on • .

E,Um.,.d po r c.pito .xpo .... itu ..... loloft Country Solari_Tn .... .... ll •• ,be po r cen.o,. of .h .... "pe .... "ur ••• "po<:,.d '0 accrue ,o.be opora"", eo ' po .. , io" ore ._ 1ft Tobl. 9. A, indi .... d •• be ' 0 •• 1 p"'_ J~c." pe r up, .. '.p".,.h.uro i, s...06 • ••• ...."In" four _hour le n~th 01 ... y .. currontLy '''p'' , '.nee d at lolon Coun.,), 5., .. , . 0::;.LLlo."I • . TIIi. i, $1 . Ol po. Ioow •• or "'eLL wi.hin the .n.e .. ainm. n. rani. m.n.ioned p.eviou.ly .

-------------------

< • "

I'<t, c."". £xpe"""u , . Ca. ",,,. y

A ....... i ..... T.pe It"n, .h Souyui. Book. Co> R.",.I. Rideo .-_d And a.ye ..... Merck."d, ••

Tot.,

Tab'" ~

£STlMAT£D PER CAPITA EXPENDITIJRt:S AT 1.101' COliNTRY SAFARI.T£XAS

To' .l Ln.P .. k

£ • .,.nd"ur"

Sl. solI ,~

O. I I '00 O. II '00 0.0$ " o.a!l '00 o. s, " 0 . 4S " .U

Note, P ,ojecHon. In 1970 doll • • • .

Am .. un,

5~. so O. U O. IJ O. OO~ O.H .. ~ O.O~

51. I ~

!I aued on .dml,,'on .. t .. 01 51.00 I" • • d"l,. and '1.5010. chHdron. wilh on o~ult -to-ch!ld ,a"" 01 ),); al.o a .... m ••• dlacount 1.<10' 01 10 pe.«nt t" .ccount 10. ~,oup o.leo.

y a .. "d on cu rr ont ""!""Ion" •• t LIon C"untry So/ar; _ C~lilo.ni~ .


Admi .. ,ono t" II>< pH' He plan"~d," rate 01 S) . OQ for .du'u and SI. ~O (". ohild.en . A •• um'"iI an .du1< _ 'o_~h,ld ''';0 of ,h.~. ,,, on~ and, d ... "u", 01 10 percent for ~roup u l u •• per c."it •• dm .... oo expen _ d"" .. 0/ S~ . SO woll b. gcnor .. e~ . I:x pend"uru lor Q,hu item •. in<l"din~ 1>fK' «nlOl • . 'Quvoni, o.o.oXo. COT .entol. , rid •• , /<><>d ond b<veuge •. and ",o«h.nd,.., are b.,.d on the e Xl"'ricn •• of ,..., Flor,da and C.li!orni. L,on Coun"y Sof .... , .. ,otion' . For c.pit> r evenue accruing to 1m. 0l"'u"n~ co'por.t,on i •• ,"m.I<<I.o ", .. , $1 , 19 .... um;n~ that lhe ca, ren •• l . loo~ and b.v ... ~ •• and mereh.ndi •• oull ... ore I .... d at ,he .. , •• ind'c,t.d ,n.he tahle .

P,oi~.lion Of 0]>< .. ",,; R~vcnu.

To "ouin op",.tin~ nvenue p,ojection., per <.pi •• vi.Hor eXp"ndi _ tu .... by cot.gory . .. ,im,ted to 'ceme '0 the Lion Coun"y S.hri.T~" .. opentoni corporation h.ve been 'ppLied to ."endance projection. lor the 1~71 _ 1980 ~riod. The,e data u e pruentod in T.ble 10. A, .hown. .. "",.'ed ,evenue 10,1911'. $ 1.111 . 000 . 'ncr ... ;", 10 $).667.000 by 19n and.o $4 . )06 . 000 by 1980.

Projection Of O". r aHn. E" .... noe

At c<>",,,,erd.! ,ecrea.ion deve!o!>"'e"ta .uch .. I.ion CountTy S~ .. j_Tex ... expen .. typicaUy i. the lunction 01 th.e . b .. ic beto .. , III capiUl inv,"",.n" il) projected vi,itor .... nd.nce: and I)) ."nual operati"g r eve"ue. E.ti ", .. ed ope rating ex~n.e, 10. the Ten, be,lity ore bued on the experience of the Florida park . Major eX~n" cl ... iIi · ution. uoed a r e tho •• d. line.,e d in . he audited ''''e",.n' of March J I . 1970. for Lion C<>untry Sofori . F!orid • . The •• C"'1I0,1 .. ore: (\) direct coot <>1 .. ,." (ll •• Uini '''pe".eo: and ()) io"e .. ' and admin;.".hve u · pen.u . Each <lH.ilic . Hon .nd ito "'ajor compo,,' "" or. d.fi".d ., .hey re! ... to the Individual operation • . It .hou'd be "",in •• d out that no opec .. _ in~ ."pe" •• , have bo'" included for .ho.e ite",. ,,-hich will be ' •••• d '0 conce .. ion.i",. __ IO<ld .nd bever'ie ouU ... . car re"ta' •• and m.rd,andi •• ,ervice._

-------------------

"" •• <1>.00

, _ .. C ...... '.1. ••• .. _ .... I!:· ..... I~· .... eM ... , ••

Too", ....... _

T •• ", ,0

OPl: MT'NC Il.EVl:NU~ .. Oil LION COo:I<Tlly SAF"IlI·TEXAS '971· ' MO

ITI .. " ... o>d.)

I ,11 I'H 1973 12H I '"

19U 1911 127.

'" '" '" '" 1. I.S I • ~ 11 I • 'IQ 1. l67

" .le l ". Sll 5l. In U. )II $l.no 53 . OJo 51 •• n U.IU

" u '" '" , .. , " ," , .. " u '" '" , .. '" ," '" , , • , • • • • '" . " u • '" m •• - '" • " " " ... '" '" ' " " " " " , .. '" '" ,"

i 1. 711 $.0 •• " U.6a7 $).0'" n."' iI.ln $1.'11 ".04'

NOI., " .oj"'I. •• ,. "7. 6011 ... .

197' I'no

I. 1Q6 I. )41

51.'" 53.170

'" '" '" '" , , .., '" '" '" ". ,U ... In ...-


D"~<t Co •• or S.Lu

r .... dIrect co .. of ulu ;~cI"du "' .. ,eo ..... "",U p.,d 1<, ."'p1oyco •• P'oyroLL 'axeo , anim.1 food and ... c. Icep"'o! .uto r.nt,l no! rep.i r. ncu ... y .uv k e . oftd "',U r,nce, 1:11." de """d .ft"".l o~ .. "n~ ~"pon.eo for ,11>. cL ... iHuh"n on. "".U .... ,. baa,., .. 9 p"'~ent of "p<' .. !ln~ ,.von"" . 'n .c, .... lity , m.ny direct <0"' ol •• le "x""nn. are hud In n.',,« .n~ do not v . ry ... , t h • .,,, nd.nc.: ""'""v". from .he d.t. obt.ined l,y.;R. .... It h not pOooible to "etamh,,,.hoo ",, ' «"t'l' of , ..... up"nn. th .. I. f.xcd .nd .he perc e"ugc .h .. i. v,d.bl • •

S<>Llini F.xpe".u

1 yp ••• lly. 5'0 10 ""« .... of ..... ,'000 rev."". '" •• Urn",,"" •• u,."o" , •• pen ..... p,<>",o"on . Howey.r. In ..... u.e <>f L.>o .. Country s..f. ro. T nu, promo.;" ...... nd ad..., ",.in. "ff"." "",.t boo max"""." if • <umpc""' •• <Iv,mo,. over World of A",m.l. I, to be m.in .......... nd. 0, ."eh .• h,. ratl" i. expec.d.o be "lnLi,can" y hI_ ..... A co" ... ... • ,.""". In"". of 1.400._ "". beu ~"LLoed. r~p.u~n"", H p<rc~n1 of "p<r."", .evu~e in t ho: lir .. year ond ~c,~",n •• o <) "", rc~n. by 19to.

e •• elode. ,,( ,hi. ~ ~pen .. d ... ifleoUon LncLu~ accoun"n~. em. p'oyee b.neflt • •• e ••••• • vie ... . livln& upon ...... Ja r leo and wa~ .. . .e.ephone. and trav.l . Such expon ... r.preun. opp,ox'ma'e'y Z9 "",rcen' of.he op ... "n, .ennue at UOn Country Safarl . Flor'da. and 'hi, .. "'. Ull" hao beo. uo.d in.ne vrojoctlon of upen.u for 1.."'" Country 5>1 ... • TUII.

E."ma'~d .uta' .,,"" •• ope.aU". cxpono .. for.Ite Tun ope •• "on .re pr ...... din ToW. '1 . Expe"." .re proj<oetod a. $1.054.000 In .,11. ''''''*01' .... 0 $1. H9._ In 1915 and.o $'.998,000 by I,ao. It .-.d "" "" •• " .ha,. In ........ Un •• tlte ••• );"& uP""'" UIU," ..... " her.in vori .. by $l.OOO or $l.OOO rr"", .Ite 0" ...... 1Iy .. """.d $400.000. Th,. Ii ... "ei., ..... y.i. wOO "ul G" ERA', ",ere.tlo ... 1 comPII'.' ""odel. and ito ~via"on " due '0 ,he r<Ho"d,n, V",c.du ..... hlch oce". withIn .Ite modd', compula · Ilon .yotem.

-------------------

.. " ........

Som .. Expo ....

T.b ••• ,

QPE .... TlNG EXPEI'ISJ: FOR LION COOI'ITJ\Y SAFAJ\'.TE!lAS Itl.·I9IO

.n.... .. ..t.1

"" ., .. 1911 " .. 19U ".~ ,~ ."1 ... U, ~, "' •• 148 '."l '.He I. "7

, .~ , "' , '" , ... $ •• on SI.0II0 $1 •• 0' $1.1l.

, .. '" ... ... '" - '" ... C .... , •• AaoI A*nl ....

tr.tl .. E.po .... II! '" '" m '" .. , '" .. T .... Expo~ •• U.OU 11.10 II. 'fl I!.S)! U.U' fl. U' $1.14' U. 'IOJ

.,., 1910

,.- I. WI

II .• " II.l06 ... ... '" '"

fl.tU II.m


Oper>"n~ '.ve"ue, .nd upon.eo are ."",,,,.,,,.d ,n T.bl. 12. In .dd,,;"n, prior t" d. r ivi"~ nd <>p .. aHn~ 'evuue, odlu",,,,,.,, .r< n"de f", three "emo: OJ tne co.t of 'Ouvenor book" which i ... tim.,.d at SO p<.ccn, of ,h. <>P"Tatin~ rOvenue of ,hi. ,'em: III prop«" 'OKe., which ,.c b.nd on. ule of SO . 86 per $100 . 00 01 &O ..... d value. w"h a.,u,.d

v.l ... "pr ... nh"~ 60 p''' ••• ' of m~r~.t .. I"" Ithu. d.,. were de"v.d fro,,' ,h. C"f of Gnnd 1' .. 1". ~"""nce Ollie<), and (ll L.nd leo ... bued (m .h. torm. providod." ERA by ,h. I.,on ~otin'ry Su.d Qper.tin~ cor>"'TOtion .

A •• hown. "'" o"" ... in~ revenue i. c.tim ... d.t $SJ4.000 in 1971. incr<uing." $1.642.000 in 1975 ond '0 $1,99),000 by 1980. The ,eVen"c_ eX"..'. ""'" b .... d on ,h. p.ev;.",.ly doocrib"d 0p"r'hn~ revenue. u!"'n . c. ond .dju"m,.". i. expected to decrea.e from approximatdy 60 percont '046 percnt of openHng revenue by 1980. Tabl per cap'" reVO",,' i. ex"., •• ed.o rem ain conota,,'. in 'erm. 01 1910 doll .... at $3 . I~: however. toul per copita expen.e i. projected to decline fr<>Tn $1.~0 ,n 1911 '0 $1.48 in 1~80. Ne' aper.Hng revenueI'''' <.p;t.;s expected to incr •••• from SO. ~6 in 1971 to $1.48 in 1980.

PRO f'ORMA CASH f'l.OW ANALYSIS

II pro forma cuh now a".'yo;. o{ Lion Coun'ry Sabri.Ten. i. pr.ocntcd in Tabl •• 13 and 14 . Tobie)) ... ume. an ,nvu'men' level o{ SZ . S m,lhon •• n e .. lmated lZ. 0 ",ilHo" of which can be {in.""ed at 9 per. cen' ,n'ere" for eill~' y ..... v.·hll. ,he rem'in,ng 5500.000 «pre."n'. return Irom.n "q""Y ,nvu,m"n' . An ;nveatmcnt level of 5l.S mllhon i. ... u",od ;n Tabl. l-l. 01 whlch $l . 7 can be financed at 9 per<en' in'ereo' lor 'i,ht y ..... w; . h ,he remaining 5800.000 repr •• entin~ r.turn Irom an equhy in .. "men,.

The m.jor ".ump'ion, u.ed in the calcul.tion of thi . cuh lIow ar" 111 income tax,," W'"e comput.d at 50 percent of ne' pre. , u inco",e : ,ll the ""iiM. h"e ",,,,bod of deprecia'ion .nd • to.yeu 4epreciaU"n period were utih~ed: .nd 131 a reinve.'men' lcvel of SISO .OOO pcr ye.r"Wu ."abli.~.d. !lOCH'. of 'he relat;vely low .. tendance projcc"on. compuod with capita l lnve.''''en' r.qu;re",.nto in 'he "". uve .. 1 year. of opera. ',on. !he equity payout period On a ne' <~.t. now t..a.i, for I.ion COU"lry Solari.Texa. "'ill be ,o",.",h.lonller t~.n .ntlcipated by 'he operatinll

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PRO .... uu. CAS .. now ""AU'" or L ..... """"YOU ..... u,.u"" •

"'" N.' 0,. ..... , A ...... • 0.., ... . ~ ._ •• Do.". """ • ........ • ,_,0. ...... • M •• "".To . ... _ • ... _.T .... • ....... - • 0- 1>0 ....... _ • G,.,. Co .. ,. .... • Lo .. ... --, .. ' ... .-.. .",-,. .. ~ ... _._ .. '.'" _c. •• n.. -. -"" ........ '-.!! c_ .... _ N .. co" n.- -. '" T .... ' ,"",,_, ", '" t.,. •• , .... " ...... '" "."", .. ' ........ '. -

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= ~ ~ ....!l!..!... ...!.!l.!... = ~ ....!l!..!... --'.1'.!.. = --'-"'!.. ..!!ll. .~ 000,,- •• ~_ • , ,. , ", "

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c~.po.a'ion; Ii. y .... for .h. Sl.S million inve"men' level. and e"M y .... lor tI,. Sl .S mHUon in ... 'me,,' le.d . In both Tablu II and I., ne, U,h 110w bocome. pooHive durin, the third yu. 01 0"""';00 . To .. l 'nve.hne"', equity inve.tme,. ••• nd prinCipal bal.n •• a r e .hown on an annu.l boo,. fro", 1970 to 1980.

O .. cOunl<d Ihl< 0/ R<1urn

One method ... ,ddy u.ed in ev.lu."", inve""'"nt oppor,un"i .. i. ,he dioooun'ed r.t. of r.'u,", o . p .... nt value <oncopt . Thlo me.hod [. o,ed ,,, lind tho •• t. Qf in ..... ' Idi,couo,,,d rat. of .. 'urn 1 .h •• will mah the pre •• ,., value of ,h. ~ •• h proc .. do "'pe.ted f,om an inv .. ,m.no equal to ,..., pc ... ", nlu. of 'he <>.h ou,lay. required by 'he inveo.ment . In con'p"hng the d'.counted r.t. of r.tu.n for uch inv .. ,,,,.n, level, 'he oal. o! the PHI< wu ... umcd In .he tonth yur. Tho .ale. p .. ce of ~. II million w .. computed~. follow", II) it w .. '''W'I'l.d that tbo not cuh flo .. , projection lor Y.ar II would remain relati.ely con"""t 'hough Yeor 20: III the net c .. h flow projection~ for Y .... II through ~O w ... di.counted a, a rUc of I~ percent . which r.p .... n .. a 8M.roay accepted d'o<ouoted ute of return fo r ;nv • .,me"" ,n recreahonal a"roction • • The n.t c •• h now projection. for Yea, II rep""'" a "'ore meoni"lful bui. for detormin'''1 • project value a. oppo.ed to Yeor 10. "nee .he Ule of .he tuth ye .. ne .... h flow projection WQuld yield on !tuhted p,ojec. v.'ue. The depreciatio" .1I0wa" •• in YUr II WQuld be .ub".nti.lly omall .. du. to '«min.tion of the depreci.ble life "n the lniti.1 ;n"".,men. . The di •• counted roteo of «'urn or. 1l . 17 percent and 21 . 97 pe ... nt fo, the $l. ~ ",mion and 11. S million leve l . of I"v&ltrnent . ,eopectively.

V.1l

economic feasibility analysis of lion country safari park

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