Value of Iconic Landmarks and Structures

Goals

To provide examples of strategies and business plans used by the management of the privately owned landmarks / structures / monuments in major cities across the world to create a brand around their property and monetize its value.

Early Findings

The Space Needle in Seattle, Washington

  • Seattle’s renowned landmark that serves as a popular tourist destination as well, Space Needle, is privately owned by the Wright family.
  • The descendants of the Wright brothers, Howard S. Wright and Bagley Wright, financed the project in 1962.
  • Since then, this iconic landmark has been continuing its operations as a family-owned, private enterprise.
  • The original company running the operations of the landmark, Space Needle Holding Corporation, is registered as an asset management company. Ron Sevart serves as the current CEO of the company leading an employee base of nearly 500 people.
  • To earn revenue, the company sells tickets to the visitors under different entry plans for individuals as well as groups.
  • The tickets for general admission are priced between US$22 and US$35.
  • The landmark also offers customized experiences for the visitors such as the sunset wine experience known as 360 sunset at the top.

Mount Vernon in Mount Vernon, Virginia

Proposed next steps:

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