The "2019 China Theme Park Survey Report" released by relevant agencies at the end of October this year shows，From a global market perspective，The Chinese market is still an emerging market in the theme park field，But in the past 18 months，China theme park construction slows down，Including some new projects announcing delayed opening, etc.。

This includes 11 Six Flags park projects in cooperation between Shanshui Cultural Park and Six Flags Entertainment Group (referred to as "Six Flags America" ​​or "Six Flags Entertainment")，After it was revealed in February this year that the opening was delayed for about a year，The latest situation learned from Zhihui，The risk of another delay in opening cannot be ruled out。

There is no need to elaborate on the potential space for the development of China’s theme park market，Six Flags Entertainment is the world’s largest regional theme park and North America’s largest water park operator，It can also prove its status in the world，It is “bound” to Shanshui Wenyuan, an investor with strong real estate genes，After several operations, there are 11 park projects，You can also see its eagerness to open up the Chinese market。

These parks only claim to have invested 30 billion each、Components of the 35 billion project，Real Estate、Theme parks are two of the key sectors，In terms of size，Real estate may exceed paradise。This is a combination we are very familiar with、Play style or mode。

Peering into it， International IP、Real estate developer、Local governments each adopt the co-production model they need，Precisely because of changes in the macro environment including real estate policies，There are some different "plans" from the past，This makes the once relatively neat cooperation steps，With more variables。

What will happen next for international IP’s business in China?

188bet app download

The "destiny tie" between Six Flags Entertainment (also known as "Six Flags America") and Shanshui Cultural Park，Started as early as 2014。

According to Xinhuanet report in August 2014，Introduced by Zhang Xiaomei, President of Shanshui Wenyuan Group，(2014) June 25，Shanshui Wenyuan Group has reached an exclusive strategic cooperation with Six Flags Group in the United States，Both parties will work together to promote the project expansion of the "Shanshui Six Flags Cultural Tourism Town" in China。

Attention，This is "exclusive strategic cooperation"，This shows the determination of both parties to cooperate。

Zhang Xiaomei also revealed，The Shanshui Cultural Park plan will take ten years，In a regional central city，For example, Beijing、Nanjing、Wuhan、Changsha、Xi’an、Xiamen、Chengdu and Kunming, etc.，Development、188bet online sports betting Operating ten "Shanshui Six Flags Cultural Tourism Towns"。

Shanshui Cultural Park official website information display，It was founded in 1986，Committed to the development and operation of world-class towns，Project layout in North China、East China、Central China and Southwest China，In addition, its core industries include nuclear leisure and entertainment、Vacation Travel、Culture and Art、Healthy Anti-Aging、City Garden。roughly speaking，Real Estate、Cultural tourism is its core sector。

Six Flags Entertainment is the world’s largest regional theme park and North America’s largest water park operator，Currently, about 25 amusement park projects have been put into operation，Although its brand reputation is not as high as Disney and Universal Studios，But still an international theme park giant，The level of "hot cakes" in China is still acceptable。

September 2015，The first project of the cooperation between Shanshui Cultural Garden and Six Flags, "Shanshui Six Flags International Resort", is located in Haiyan County, Jiaxing, Zhejiang，Including Six Flags Land、Water Park and Children’s Park；

July 2016，Shanshui Cultural Park signed a contract with Bishan District, Chongqing，Building a landscape-themed town project，Including Six Flags Land、Water Park、Adventure Park and Children's Park；

September 2017，Shanshui Cultural Garden signed a contract with Nanjing，Building a landscape-themed town project in Lishui District, Nanjing，Including Six Flags Land、Water Park、Adventure Park and Children's Park。

As per agreement，The planned investment amount of the three projects is about 30 billion yuan respectively，Including 11 Six Flags theme parks，Appear in the form of theme park groups。

Viewed from the site selection area，The three projects are located in the Jiangsu and Zhejiang areas of the Yangtze River Delta、Southwestern Region，All are the current highlands of cultural tourism industry，In economic conditions、Transportation location、Radiated customer groups, etc.，Overall OK。Taking sea salt as an example，It is located in Shanghai、The relative center position of the triangle formed by Hangzhou and Ningbo，Within 80 minutes to 2 hours by car from the three places。

But the high-profile situation changed in February this year.

At that time，Shanshui Cultural Park was exposed by the media because of the difficulty of construction、Long construction period and policy changes, etc.，As a result, the opening of its Shanshui Six Flags project will be delayed。As originally planned，The earliest Haiyan project to open in 2019，Delayed to 2020，Chongqing and Nanjing Six Flags amusement park projects are scheduled to start in 2020 respectively、2021 extended to 2021、Opening in 2022，The whole is delayed by about a year。

On the 2018 Earnings Conference Call，Six Flags attributed the delay to three points: Tensions in international trade relations，Increased uncertainty；It becomes more difficult for companies to obtain loans；Changes in supervisory personnel at the location where the park project is located, etc.。Affected by project delays，Six Flags Entertainment’s revenue decreased by US$15 million in the fourth quarter of 2018 (asset-light brand output expenses)。

Until recently, the situation for these projects was far from optimistic.

Six Flags Entertainment Group’s chief financial officer said on the second quarter earnings call in July this year，China’s partners are driving the government approval process，Construction of Chongqing’s Six Flags Park project has continued。Estimated to be at the end of this year or early next year，Nanjing’s project development and revenue recognition can return to normal。

On Six Flags Entertainment’s third quarter earnings conference call in mid-to-late October，Relevant executives said that Six Flags Nanjing is still negotiating some approval procedures with the local government，Relevant revenue has yet to be recognized。Also，The CEO stated at the meeting，The local government wants to build more than just a theme park，But the entire city complex，The latter requires massive infrastructure investment，The government generally will not agree to open the park before the investment is completed，This happened in Zhejiang、Chongqing or Nanjing。

For the current progress of multiple projects at Six Flags，Insiders of Shanshui Cultural Garden recently commented on Zhihui，(Project) has some conditions，Especially since the progress is not convenient to disclose to the outside world。

Zhihui contact Shanshui Cultural Park through the official website of Shanshui Cultural Park，No direct response，Another email address provided through its official website，Also failed to contact。As of press time，Zhihui failed to obtain an official response from Shanshui Cultural Park regarding the progress and specific reasons of the above-mentioned projects。

This business is a partnership between Shanshui Cultural Park and Six Flags Entertainment，What happened？

Can’t play with bound real estate?

Any business cannot be separated from money.

In the above Xinhuanet report，About the cooperation between Shanshui Cultural Park and Six Flags，Zhang Xiaomei, president of Shanshui Wenyuan Group, once expressed that it was inconvenient to disclose，But Six Flags Group will also invest，Not just brand and management output。

But in 2017，Former Six Flags Entertainment President and CEO John Duffey once said，Building overseas parks does not require direct investment from Six Flags，There are only two limiting factors for future global expansion plans，First, find a new partner，The second is to find a suitable construction site。

Some people in the industry said frankly，Six Flags cannot invest in projects that lack funds，Foreign brands enter the Chinese market，Either Disney and Universal Studios cooperate with powerful state-owned enterprises to build large theme parks，Private enterprises like Shanshui Wenyuan，Even if we cooperate，I won’t pay either，They are more interested in the consumption potential here and the revenue and profits it brings to the company。

For example，July this year，Dubai Theme Park Resort suffered losses due to performance，Shareholders veto the planned reinvestment and construction of Six Flags Park，Both parties settled to pay Six Flags Entertainment US$7.5 million。

From another perspective of project logic，Six Flags is unlikely to invest，There is a high possibility 188bet app that Shanshui Cultural Garden is the “funder” of the project。

Early this year，A person from Shanshui Wenyuan’s real estate development company confessed to Zhihui，Six Flags cannot open on time this year，Because the company has no money。And the development this year is not optimistic，Cash flow cannot keep up。The project investment of 30 billion is a bit exaggerated，The company is under great financial pressure。In recent years, I have only been able to go out but not enter，Always in Hualaodi，Unlike other real estate companies，There are still properties available for sale。

Also mentioned in a report on the Financial Network in February this year，Shanshui Cultural Park’s current capital chain is very tight，In order to relieve financial difficulties, there may be plans to resell part of the "Shanshui Six Flags Town" to Sunac，However, Shanshui Wenyuan denied the resale。

But combined with the official website information of China Construction Municipal Engineering Co., Ltd. and The Paper news reports，June 2018，China Construction First Bureau and First Company won the bid for B8-B11 of Shanshui Six Flags Project in Jiaxing, Zhejiang、Plot B17-B19 general contracting project，Total construction area 890,000 square meters，Including bungalow、Stacking、Heyuan、Class single-family house、A total of 218 single buildings with supporting projects and kindergartens，is a high-end residential area built by the owner Sunac Group。

Some people in the industry also revealed to Zhihui，Many people he knew from the Six Flags project in Haiyan, Zhejiang have resigned，This is related to the fact that they cannot see the development prospects of the project，The company may have encountered financial problems。

As of press time，Zhihui failed to obtain an official response from the Shanshui Cultural Park regarding the project cooperation model and funding issues。

In fact, it penetrates one layer further，may be found，The previously popular “real estate + theme park” model is no longer working well。According to previous reports by Jiaxing Daily，The controlled detailed planning of Zhejiang Shanshui Six Flags International Resort has passed the review，Except commercial packages、Six Flags Theme Park, etc.，There are five more livable residential areas，Including smart ecological home、Coastal high-end vacation、International anti-aging (health care) and other functional areas。

Real estate developers have certain funds (including project loans)，IP required，Need land，Local government owns land，With policy，Hope to introduce IP to develop cultural tourism industry，Promote land value appreciation in areas where cultural tourism projects are located，Promote employment and promote local economic development；International IP has brand name，Projects ready，Can satisfy IP provision、Amusement Equipment、One-stop service including park operation and management，But needs expansion，Need to export light assets to make money, etc.。So，Three parties complement each other，一合片，Start it。

One core of tripartite cooperation 188bet sports betting app download is land，Among these three parties，Real estate developers can be regarded as linking international IP and local governments in the middle，That’s it，How real estate developers operate，Inseparable from real estate，This also leaves hidden dangers。

When the macro trend，Domestic related policies such as real estate policy trends，When the situation is favorable，The variables for project implementation are relatively small，And once the policy changes，The result is hard to say。National real estate regulation policy launched in 2017，Zhejiang Haiyan involved in the Shanshui Six Flags project、Chongqing、Nanjing，There are also corresponding implementation policies。

One of the reasons for the project delay mentioned by Six Flags above is "it is more difficult for companies to obtain loans"，Can be regarded as a key reason。

The above-mentioned industry insiders think，To these projects of Landscape Six Flags，Shanshui Cultural Park should try to persuade the local government to build real estate projects first，But the government may not agree，Because some local governments are more rational than before，The current attitude is，Enterprises make cultural tourism projects，It’s easy to talk about later，If it can’t be done，Real estate supporting facilities are also difficult to negotiate，“They also want to increase their regional influence by introducing international brands。”

Follow it down，It may be understood as: Shanshui Wenyuan loans have become difficult，Want to repatriate some funds by developing real estate first，The "old strategy" of promoting rolling development of Six Flags parks and other parks is no longer general enough，The park’s initial opening plan was postponed。

How much business can Six Flags do in China?

Do you think Six Flags Entertainment regrets it now？Maybe a little。They may think they are holding on to the "thigh" that will open up territory for themselves in the Chinese market，I never wanted to walk slower，Not to mention the impact on international business income and statements，The time and opportunity for market position has also been postponed，After all, the earlier the park opens，The more projects are opened，The market share is relatively higher。

If you want to make a simple comparison，Huaqiang Fantawild, one of the domestic theme park players，Quickly attack in second- and third-tier cities，In Changsha this year、Jiayuguan、Four theme parks opened in Handan and Jingzhou，Covering Northwest、Three major regions of Northeast and Central China。Public information display，Estimated to 2020，Huaqiang Fantawild will build and operate more than 30 theme parks。

It is also a light asset output，The reason why Huaqiang Fantawild expanded relatively quickly，An important factor is that the project is not tied to real estate supporting facilities，The demand for cultural tourism projects in second- and third-tier cities is also relatively strong，The local government hopes to bring premium prices to surrounding land and economic boost through these projects，Each other’s demands and 188bet Online Sports Betting and Casino considerations are relatively more direct and simple。

The possibility of the above-mentioned Shanshui Six Flags project finally opening should be quite high，But for Six Flags，It is not easy to “enclose” more territory in the Chinese market。

Said by the above-mentioned industry insiders，Generally speaking，For international brands，Domestic companies want to discuss cooperation，Must find consulting companies through intermediaries designated by these brands，First do some research on the background of these companies and the markets they want to enter，Then provide corresponding solutions。But the consulting company may not know much about Chinese companies，They pay more attention to whether these companies can meet the investment scale proposed by Six Flags Entertainment、Authorization fees and other conditions。

Also，Looking at it from another angle，Even if Six Flags is completed and opened in the future，The brand’s core competitiveness in the domestic theme park market has also been questioned。

Lin Huanjie, President of the China Theme Park Research Institute, said to Zhihui，Six Flags Entertainment is a major international brand，But there are two problems with its implementation in China。First，The consumer groups do not match well。Young people in North America are more adventurous，Six Flags roller coaster、Jumping machines and other equipment are more suitable for people who like adventure，Domestic consumers generally do not have such a strong sense of adventure；Second，The product is not attractive enough。Six Flags is mainly famous for its roller coasters，Providing rides、Roller coasters and other amusement equipment，A relatively large number of operating water parks，These are certainly its flagship products，But the experience brought to tourists is often not very special。

In Lin Huanjie’s opinion，These devices may become popular in China after opening，But the lasting power of the product will not be very long。Because its core value is besides adventure and excitement，There is no brand story similar to Disney to retain tourists，Most tourists will probably not repeat the experience after playing it a few times。

To some extent，This is related to the fact that Six Flags has fewer IPs。Six Flags at America’s theme parks，Only get Superman、Batman、Bugs Bunny and other Warner Bros. image licenses，Used in various riding facilities。In China，At present, Shanshui Cultural Park has announced only the Tuzki ride facility in cooperation with Turner，Various DC superheroes have not been introduced to the Chinese market。

It seems，The Chinese “business” of international IP is not very easy to do。