ConsultEcon Management & Economic Insight

ConsultEcon provides real estate analysis and strategic planning services for a broad array of property types including commercial, hospitality, entertainment and recreational real estate. Services include market and feasibility studies, master plans, highest and best use studies and fiscal and economic impacts analyses.

 

Large-format Theaters

Science Museum of Virginia Campus Evaluation
with IMAX® Theater:  Richmond, Virginia
Evaluated potential investments and enhancements to the Science Museum of Virginia campus most notably relocating the Virginia Aviation Museum to the Broad Street Campus.  Also analyzed were opportunities for a replacement or additional 3D large-format theater (LFT); and enhancing the campus to become a destination in its own right.  The investments and their overall attendance and operating impacts were evaluated for a ten-year phased-in period.


Flint Riverquarium LFT Feasibility Study:  Albany, Georgia
Assessed the potential market support and proposed operating plan for an attraction comprised of several elements, including a science museum, regional interpretive center, aquarium, and large-format theater (LFT).  The facility opened in 2005 with 3D capability.  Alternative film formats and vendors were evaluated.


Mountain Empire Science Center Large Format Theater Market Study:  Danville, Virginia
Following up on an earlier study for a facility expansion, ConsultEcon evaluated the opportunity of incorporating a large-format theater (LFT) into the Mountain Empire Science Center.  Factors examined included current technological changes in the industry, facility size and operations, attendance potential, ticket pricing policies and the additional operating expenses the project would require.


Cavanaugh Flight Museum Large Format Theater:  Addison, Texas
As part of a plan to relocate the Cavanaugh Flight Museum, a large format theater was analyzed as a major component of the visitor experience.  This work included attendance potential, operating cash flow, warranted investment and operating plan.


Pink Palace Family of Museums:  Memphis, Tennessee
As a part of the Pink Palace Family of Museums multidisciplinary strategic planning process, prepared an attendance, operations, and market review that has informed the options for institutional changes and capital investments.  We evaluated multiple sites with several interpretive themes, including local history, natural history, a nature center and historic homes.  An IMAX® theater was also part of the analysis.  We then provided an analysis format for a strategic operating plan that included our input on attendance and earned revenue factors for the proposed physical and organizational enhancements to the Pink Palace Family of Museums.


Proposed IMAX® Theater at the Taubman Museum of Art:  Roanoke, Virginia
Supervised the evaluation of an IMAX® Theater to be included within a new, architecturally iconic 67,000 square foot museum.  We also prepared a phased pre-opening operating plan and budget. 


Belmont Bay Science Center IMAX®:  Belmont Bay, Virginia
Evaluated the feasibility of the development of a Science Center as part of the Belmont Bay "new town" project.  This facility would be part of the Science Museum of Virginia consortium.  In addition to a science center, the market potential for an IMAX® theater market was also evaluated.  The feasibility study included attendance potential, optimal pricing strategies, operating profile and financial projections.  The economic impacts of the project on the regional economy were estimated.


IMAX® Theater:  Bay Shore, New York
Evaluated the feasibility of the development of an aquarium and IMAX® theater in Bay Shore, Long Island.  Also included in the work were an analysis of project concept, site and location characteristics, and market support.  A telephone survey was conducted in support of the market research for this project.


IMAX® Theater in the Harbor of Hamburg:  Germany
Reviewed the market potential for mixed-use development, evaluated market support factors for the project and assisted in the financial evaluations and project packaging.  An IMAX® theater was a key attraction component.


LFT at the University of Arizona Science Center:  Tucson, Arizona
Evaluated the market support and economic potential of a large-format theater (LFT) to be included within a major, new science center.  Alternative film formats and vendors were evaluated.  We worked closely with Science Center staff and the design team to advise on optimal sizing based on market potential, and to develop revenue potential and operating budgets based on proposed programming of the LFT.