Blame Kelly?
It seems like only yesterday Australians were told they were about to wake up to a new utopia. Vegemite in every cupboard and a surf ranch in every back yard. Yes, the unveiling of Kelly Slater’s manmade wave miracle, there in the cow stink of Lemoore, heralded a bold new age for the nation of surf mad huis. Exciting proposals popped up directly. A rusty plunger built in Yeppoon.
And yet, nearly one decade on, only one public wave generating facility has been built down in Melbourne. The aforementioned Surf Lakes facility, in Yeppoon, still just an invite-only prototype.
The Australian Broadcasting Corporation, wondering why, visited with Surf Lakes founder Aaron Trevis who declared there is simply no money for the things. He was hoping to have $50 million raised by now. Alas, he has not. “I was hoping to be there already,” he sadly stated, “but that’s the challenge. At this stage it is really about the money, to be honest.”
Urbnsrf, the one operating in Melbourne, is planning another in Sydney, scheduled to open next year, and another in Perth. The Kelly Slater Surf Ranch set to be built on pristine wetlands, shuttered forever.
And that’s it, that’s all.
Not only are surf parks complicated and costly to develop, operators say they are expensive to run.
Making waves is energy intensive, and a steady stream of cashed-up surfers are required to keep the lights on and the pumps running day and night.
The emerging business model is for the pool to serve as the centrepiece of a larger, integrated development with multiple revenue streams.
But developers said institutional investors viewed surf parks as a new — and therefore risky — phenomenon and were reluctant to fund them.
The Wavegarden technology is the most efficient with annual operating expenses at, roughly $11.5 million. Cost for the surfer also economical with “12 guaranteed waves costing between $80 and $160.”
Slater’s the most expense with a private day rate of $70,000. “It turns a profit but its clientele are almost exclusively Silicon Valley executives and their mates, or sponsored professionals.”
The piece went on to discuss more troubles with the surf tank model but pivoted sort of anti-depressive at the end, attempting to maybe imagine a future sotted with tubs.
Where do you currently stand on the matter?
Bullish or bearish?