THEME PARK INDUSTRY BOOMS IN ASIA; FLORIDA COMPANY CAPITALIZES

The Orlando Sentinel (Florida)


By: Gabrielle Russon, Associated Press

ORLANDO, Fla. —ITEC Entertainment, an Orlando-based company that designs and builds attractions, is expecting to capitalize next year on the flurry of growth in Asia in the theme park industry, with work on projects such as a $1.8 billion amusement park in China, a castle that houses attractions on a mountain in Vietnam and a mixed-use space with a water park.

“At no time in the past did we have this much diversity of work in the building,” said Bill Coan, president of ITEC.

ITEC’s juggling of dozens of attractions overseas comes at a time of booming growth in Asia’s theme park industry, according to a report released last month by Orlando-based International Association of Amusement Parks and Attractions, a theme-park industry group.

“Asia is still seeing tremendous growth,” said association CEO Paul Noland, pointing to an emerging middle class in China as a reason for the rise in theme parks there. “Clearly, there’s pent-up demand.”

The Walt Disney Co. has cited strong performance at the theme park it opened in Shanghai last year. Universal Studios Beijing is expected to open around 2019.

Other Central Florida companies, such as Falcon’s Creative Group, which designs theme park attractions and does master planning, have also turned to China to do business. The Orlando company did thematic and interior design services work on the billion-dollar Atlantis Sanya resort in China.

ITEC is designing 35 indoor attractions for an amusement park in Jurong, China, that will be the same size as Disney’s Magic Kingdom. The Chinese real-estate developer Evergrande Group is seeking to build a fairy-tale land that could open in 2019.

One project is Kim Quy, a theme park in Hanoi, Vietnam, that ITEC is designing on 250 acres. Originally similar to Disney Springs, the plan now includes three roller coasters, water taxis and a 250-foot wide building that houses technology and features a lotus flower. It could open in 2019 or 2020.

Another is Ravenstone Castle, which will have 11 attractions, built atop a mountain in Da Nang, Vietnam. The estimated $100 million, 400,000-square-feet castle project is projected to open in 2019, with ITEC’s involvement including design and control-systems engineering.

In Harbin, China, ITEC is designing an indoor water park and a Ripley’s Believe It Or Not as part of a mixed-use space that includes a hotel, a shopping mall and towers with housing apartments. The two attractions could open in 2019 as part of the total $250 million project. A spokeswoman at Ripley’s said it would be the company’s first project in China after opening 100 attractions in 11 countries.

Building mixed space as opposed to a large-scale amusement park — “This is the future of China right here,” Coan said.

In early January, three or four ITEC employees will live and work full-time on the projects in Asia in addition to the Orlando-based employees who typically fly over for a few months at a time to work on a project. ITEC, which was founded in 1985, employs about 90 people at its Orlando offices.

That means work happens on a 24-hour cycle. When the American office is closed overnight, people are working in China, and vice versa.

What has helped ITEC navigate a different business world and cultural norms is a joint venture with a China-based architectural design and engineering firm, a partnership that began in 2015.

“As long as China can print money … the projects will keep coming,” Coan said.

LOAD-DATE: January 13, 2017
LANGUAGE: ENGLISH
PUBLICATION-TYPE: Newspaper

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