Italian automaker Ferrari announced plans for a Ferrari Land theme park to be built in conjunction with PortAventure Entertainment, Barcelona, along with the brand?s first hotel.
The theme park calls for an investment of $139.5 million and is slated to open in 2016. Since Ferrari is in the business of acquiring consumers but also breeding enthusiasts, the new park may help the brand captivate people at a young age.
?Ferrari is a brand targeted at the upper end of the market,? said Al Ries, founder and chairman of?Ries & Ries, a Roswell, GA-based marketing strategy consultancy.
?A 1967 Ferrari has just been auctioned for the unheard of price of $27.5 million,? he said.??The Ferrari brand is not going to be helped by an amusement park with rides costing a few dollars.?
Mr. Ries is not affiliated with Ferrari, but agreed to comment as an industry expert.
Ferrari?did not respond by press deadline.
Fun and cheer
Ferrari Land will be contained within the larger?PortAventura resort and theme park. PortAventure signed a licensing agreement with Ferrari to build the branded park.
The prancing horse theme park will house the usual assortment of rides and games, with a focus on cars, within its 75,000-square meter perimeter.
The highest and fastest vertical accelerator in Europe will be constructed on the grounds, a ride known for its terrifyingly abrupt descent.
Ferrari already has another?branded theme park located in Dubai.
What makes the Barcelona venture particularly interesting is the construction of the brand?s first hotel. The hotel will have 250 rooms, several restaurants and a driving simulator.
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Source: Joe McCarthy (2014). Ferrari broadens lifestyle pursuits with Spain theme park, first hotel, Luxury Daily http://www.luxurydaily.com/ferrari-broadens-lifestyle-pursuits-with-spain-theme-park-first-hotel/ published Mar 14, 2014. Viewed Mar 19, 2014.