Adventure Waters Update – April 2020
Message from Paul,
Update April 2020:
2020 started by offering up some much-needed clear air on the Adventure Waters Project. (AWP): Albeit the Coronavirus is proving to be an unwanted distraction in the Tourism Industry.
The long-term impairment to businesses and tourism operators will be harsh with unemployment doubling to over 10 % by June. Hence, we are now concentrating on opportunities via Governments post C- 19.
Industry Updates: Water Parks
Water Parks were continuing their healthy growth and popularity worldwide and remain the most popular of all Theme Parks with families across most age demographics.
The IAAPA Benchmark report of 2018/19 reflects that 84% of Water Park guests are in the 3 to 49 age demographics. Interestingly the trend continues to grow of Grandparents having more involvement with their Grandchildren; hence, the age demographic (50 to 64) makes up a further 9 % of all attendees to Water Parks.
When combining the above demographics with other statistics from the report, such as 63% of Water Parks around the world can only trade for 180 days or less per year due to unfavourable weather conditions, this confirms the Adventure Waters project is in the exclusive worldwide club of (12%) that can trade 363 days a year.
Industry Updates: Trending now
The newest industry additions are surfing Gardens (wave pools for surfing)
The new URBNSURF surf wave garden outlet has was opened (January 5th) in Melbourne. https://urbnsurf.com/
It makes a smart and beautiful addition to Melbourne’s entertainment offering. It will be interesting to see how the Melbourne Community support such a concept; however, early indications are sound and before C- 19 were exceeding their forecasts.
I have been in early-stage talks with Andrew (CEO) as we investigated a possible hybrid for AW, consisting of Waterslides & Attractions plus a commercially viable version (size) of Surf / Wave pool facility. We continue early-stage talks and look forward to holding further discussions once they have settled this exciting product into their marketplace.
UPDATE ON INVESTMENT PROPOSALS:
Felhope Pty Ltd trading as Adventure Waters Project Cairns: ( AWP ) has received conditional support from Government’s concerning funding and grants in which did enable AWP Management to enter into early-stage talks around funding negotiations with investors and or their advisors/ agents; however, we anticipate these talks will stall until the aftermath and fallout is known from C-19 outbreak in which could be some time.
At this stage and if or when talks resume, the said investors would acquire a percentage stake in the overall AW proposal and will be issued share capital by way of a scheme of arrangement at an indicative price of (TBA) per ordinary share (“Proposal”). (CIC -Applies in these possible transactions)
The AWP Management has adopted the firm view based on previous experience and under the current climate; any (“Proposal”) put forward will be subject to completion of a strict due diligence process into any investment vehicle put forward to ensure its ability to have cash reserves it claims and balance sheet to see the project to its end.
The Adventure Waters Management advises our current stakeholders that in respect to any proposal coming forward, that there is likely to be a legal requirement ( especially since the Morrison Government announced changes to the foreign review board investment investigation limit being reduced to $0) that some or all in any proposed investment vehicle will possibly need to make a public announcement of their investment intention going forward and would be subject to FIRB approval.
The Directors of Felhope Pty Ltd are keen to see the AWP finally start construction and deliver this much sought-after piece of infrastructure for the region and believe it’s more important than ever that this project receives support from all levels of government in the current unprecedented climate.
The AWP is perceived as critical need infrastructure and will significantly help in the recovery of the Far North Queensland region and its confidence.
Hence, we have written to Premier Palaszczuk and Tourism Minster Jones putting forward a proposal to make use of several opportunities via the Palaszczuk Government and the Federal Government range of support programs, we believe the timing has never been better for State Governments to get involved and think outside the traditional box when it comes to supporting new infrastructure in the regions, The Adventure Waters Water Park Project is shovel ready and will quickly create hundreds of jobs during construction plus over 200 positions once operation, there are few, if any projects of this size that enjoy such a high need and demand plus community support in the region and possibly the state that can be implemented almost immediately and hence contribute strongly to the rebuilding of tourism and construction in the region post-C-19.
We will keep you posted on our talks while abiding by CIC
For more information:
Contact: Paul Freebody: CEO
Via the Adventure Waters Website – Messageboard – Located in the – Offer Your Services
Our Growth 114240