Delivered September 2, 2020. Contributor: Agnidip M.
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.
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.
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.
Apart from the two iconic landmarks / structures mentioned above, a list of more than ten similar landmarks / structures that are managed by private parties or non-governmental organizations is provided here.
Only the project owner can select the next research path.