Musing about the future of Atlantis

[okwiater]

First off, I want to say that my family loves visiting HRA and Atlantis. However, I can't help but notice what appear to me to be an increasing number of negative news items and anecdotes that make me wonder about the future of Atlantis in the medium term.

For example, compared with my first visit to Atlantis, the overall occupancy seems to be down. This is reflected in the number of restaurant closures (permanent and temporary), retail store closures, etc. The service level also seems to have diminished. In addition, the overall maintenance of the resort seems to be lackluster. It always seems like some of the water rides are out of service for once reason or another (lazy river, some of the Power Tower slides, etc.) The glass for the fish tanks frequently seems dirty or hazy. And comments from guests are that the hotel rooms are shabby as well. Combined with all of Atlantis' own financial challenges (i.e. debt restructuring), a larger number of worldwide attractions especially in the Middle East which compete for Atlantis' most lucrative customers, and the eventually-to-open Baha Mar... it makes me wonder if Atlantis will have a tough time surviving in the medium term.

Other thoughts, speculation, or musings?

 

[Sea Six]

My wife and I were just there for 2 weeks. We agree with your thoughts. There are many areas of Atlantis that need at the very least a paint job, and in many cases major repairs. For example all the fake rock structure around the river pool looks like it is cracking and falling apart. We also said we would be reluctant to buy into Harborside now because the units need rehab, which may result in a special assessment. The appliances and furniture are quite worn, and the laminate on the kitchen and bath countertops is cracking. Occupancy last week was published at 42 to 48%. (overall Atlantis, not Harborside)

 

[Helios]

My wife and I were just there for 2 weeks. We agree with your thoughts. There are many areas of Atlantis that need at the very least a paint job, and in many cases major repairs. For example all the fake rock structure around the river pool looks like it is cracking and falling apart. We also said we would be reluctant to buy into Harborside now because the units need rehab, which may result in a special assessment. The appliances and furniture are quite worn, and the laminate on the kitchen and bath countertops is cracking. Occupancy last week was published at 42 to 48%. (overall Atlantis, not Harborside)

I usually go to HRA during January (Plat+ Season), to get a break from the NE winter, and all amenities are open. I believe I've seen occupancy rates at HRA in the low 70%s. My villa experience has been acceptable maintenance wise.

 

[GregT]

I think Atlantis will be fine -- I think it is showing the wear and tear of being a 20-year old property trying to survive during a soft economy. No one is spending like that they did years ago, which can explain restaurant and shop closings, and the owners financial condition explains the deferred maintenance.

But, Atlantis is still a very unique brand -- I can't think of a similar individual property that captures the imagination. And the fact that we can access that property via timeshare rights is remarkable. In my opinion, a recapitalization (like we just saw) should go along to restoring some of the shine on the property.

We loved Atlantis (and HRA) when we were there in 2014. It was a great experience and I look forward to returning. I noted similar wear and tear at both Marriott Aruba Ocean Club and also Ritz Carlton St. Thomas. Both great properties, and I think the weather is tough on the physical plant. I welcome other thoughts and comments.

Best,

Greg