3rd Ferrari (NYSE:RACE) Theme Park Confirmed For China

3rd Ferrari Theme Park Confirmed For China

$RACE

The third Ferrari [NYSE:RACE] theme park has been confirmed for China.

The new park will join existing Ferrari-themed parks in Abu Dhabi, Ferrari World and Barcelona, Spain, Ferrari Land.

The location is yet to be announced, though we can confirm it will be one of the Primary Cities in Mainland China.

The parks are not owned or operated by Ferrari but by outside firms under license.

For this new park, Ferrari has entered a non-binding agreement with state-owned Chinese automaker BAIC.

Licensing its brand is a growing source of income for Ferrari which limits its high end luxury Super and hyperSupercar production in the interest of exclusivity.

Ferrari World is the only Ferrari-branded and world’s biggest indoor theme park. It was named as the leading tourist attraction in Middle East last year by World Travel Awards, surpassing other destinations of including the Dubai’s indoor ski resort and Burj Khalifa.

The park is also the home of the fastest roller coaster in the world since Y 2010 and the world’s tallest non-inverting loop.

The automaker is expecting to see a return of growing sales in 2016, but only at a single-digit increment, according to Enrico Galliera, company’s senior vice president of the commercial division.

Sergio Marchionne, Ferrari’s Chairman, further said that the company will soon issue a planned bond as markets were facilitative to such an issue.

Do not ever doubt the power of brands: if you think the mystique of Ferrari is big in a wealth-generating place like the United Arab Emirates (UAE), imagine what it will do in China, which lags behind only the United States in its population of billionaires.

Stay tuned…

HeffX-LTN

Paul Ebeling

The post 3rd Ferrari (NYSE:RACE) Theme Park Confirmed For China appeared first on Live Trading News.