Pale Blue Dot Ventures (PBDV), in partnership with a California coastal community, will build a40-acre space based educational theme park strategically located on 80 acres of prime California coastal property. It houses a hotel, dozens of attractions and viewing sites to watch over 100 rocket launches a year. Over 60,000 students and 250,000 visitors will attend annually and spend over $75 a day contributing to a revenue stream exceeding $40 million. Combined with our software IP (CalSpace Virtual) and secondary merchandising opportunities, we project IRR’s in excess of 25% or EBITDA exit multiples of 10-15x.
Space Base California combines entertainment, education, and hospitality to generate over $40 Million in revenue per year. With admission fees ranging from $50to $600, our space academy, themed hotel, Food &Beverage (F&B) and significant merchandizing, our park is revenue positive from day one. With the park located on the famous Pacific Coast Highway (PCH) and only 60-minfrom Santa Barbara, Solvang and Central Coast beaches, market studies project attendance of over 300,000 per year. The heavily traveled US-101 north-south artery between San Francisco and LA is within a scenic 20 min drive.
IDEAS’ decades of experience with Disney and other international brands demonstrates their proven performance in every key aspect of the industry, from creative development to revenue optimization. Their track record extends to worldwide destinations in a dozen countries, including both new-build development and turn-around/enhancement programs for existing destinations. We understand the key components that make for a commercially successful guest experience :market intelligence; experience design; pricing & revenue optimization; ancillary product development; operations planning; budgeting & financial control.
Space Base California is following a disciplined development cycle. The final lease agreement with the City of Lompoc is scheduled for February of 2024. Site testing and preparations will follow with the refreshing of the previously performed CEQA. Then the 2-yrdevelopment cycle will lead to operations and a projected exit through a sale to a dedicated owner-operator.
To date more than $1.1 Million dollars has been spent on the project’s development, design plans, and entitlement.
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