Two from two!
The recent mania for building wave pools as an economic panacea to economically depressed backwaters has been laid bare as the folly it always was with the closure of another tank in Britain.
The Wave in Bristol, which charged ninety-five pounds for an advanced session and by advanced a three-foot tube that chandeliered and required supple hip flexors to squeeze into, has been shuttered indefinitely in a financial dispute between majority owners Sullivan Street Partners and another funding partner.
Sullivan Street Partners, who injected twenty-seven mill into the joint, said the closure stemmed from issues tied to the bankruptcy of a director at JAR Wave, another funding partner.
On May 22, administrators released a 47-page report outlining The Wave’s challenges in repaying loans and financing used to fund the millions of pounds needed to construct the facility in the late 2010s. Opened in 2019, the facility faced significant setbacks due to the Covid pandemic a year later.
Hazel Geary, CEO of The Wave, said: “This closure is not due to operational shortcomings or insufficient customer interest, but rather a financial technicality entirely separate from our commercial performance.”
Still, no word on if the gates are gonna swing open again on the world’s first full-sized Wavegarden Cove.
Two years back, the world’s first modern wave pool Surf Snowdonia, which used Wavegarden’s now obsolete early tech, was shuttered after a troubled eight years. This despite the Welsh government kicking in four million pounds to give it some sorta appeal to non-surfers by adding an adventure park to the place.
The Welsh lagoon, which opened in 2015 to much fanfare, had suffered a series of setbacks of late. Lower revenues and less Welsh interest and what have you. There was a brief thought that a Hilton Garden Inn, opening onsite in 2021, would spike wild growth but… have you ever stayed in a Hilton Garden Inn? Oh, there’s nothing wrong with the medium tier business chain but also nothing really right about it either. A Four Seasons or Ritz might have been a better option.
The Wave in Bristol hit headlines a few years back when it entangled Britain’s VAL community after telling ‘em they had to prove their expert bona-fides via a licensing system if they wanted to ride Bristol’s Wavegarden on the advanced setting.
Interestingly, The Wave’s Founder Nick Hounsfield told BeachGrit that it wasn’t technology holding the place back, it was the surfing level of its customers. The Wave hit headlines a few years back when it entangled Britain’s VAL community after telling ‘em they had to prove their expert bona-fides via a licensing system if they wanted to ride the advanced setting.
“Quite a few people are struggling to be honest what their ability might be,” he said.
