Sep 12, 2012

Welcome to LEGOLAND Malaysia

According to Tourism Malaysia, there were 24.7 million recorded tourist arrivals last year, with tourism receipts totalling RM58.3bil. The Malaysia Tourism Plan 2020 is targeting 36 million tourist arrivals and RM168bil in tourism receipts by 2020.

Legoland parks typically house miniature Lego structures built around themes such as Star Wars as well as mini villages with landmarks in the area. Other Legoland parks are located in Denmark, Germany, the UK and the US.

The heart of Legoland Malaysia is Miniland, which features various Asian landmarks recreated using more than 25 million Lego bricks.
Apart from Legoland’s own features, Boerst believes that up and coming attractions nearby will drive visitors to the Iskandar region and by extension, to Legoland.

“Legoland fits well with the tourism pillar of Iskandar. There is a good concept for Iskandar and we are working with other attractions in the vicinity to offer attractive packages,” Boerst said.

The Puteri Harbour Family Theme Park in Nusajaya is scheduled for a November opening with attractions such as Lat’s Place and a Sanrio Hello Kitty Theme Park among other things. Iskandar Malaysia is looking to add more theme parks for the region to boost tourism activity there.
Some have been quick to point out that Legoland is no match for Singapore’s integrated resorts, which have stronger products to offer. The attractions at the resorts include Universal Studios Singapore, a casino and the Marine Life Park which cater to a wide range of visitors compared to Legoland’s target audience of young children.

But Boerst believes that Singapore’s resorts are not direct competitors.

“It is always good to have healthy competition, but I believe we can profit from each other. Legoland’s presence here adds to the whole tourism attraction in this part of South-East Asia and tourists on longer stays can visit parks in both countries,” he said.
Additionally, a water park and Legoland Hotel are slated to be opened in 2013 and 2014 respectively, which would mean more integrated offerings for Legoland. This will draw longer-staying visitors and add to Legoland’s revenue.

Legoland expects to generate more than RM100mil in revenue in its first year of operations. This will come from all the attractions in the park, restaurants as well as retail outlets.

“We should see operational profit in the first year itself, but to recover the full investment will depend on the long-term development of the park which usually takes about 15 to 20 years,” Boerst said.
The combined cost of the theme park and planned water park is RM720mil, which is fully funded by the Malaysian government, while the construction of the hotel will cost RM190mil.

Boerst said, although Legoland essentially only manages the park in Malaysia, UK-based Merlin Entertainments Group, the owner and operator of the other Legoland parks, will look into acquiring at least a 20% stake in Legoland Malaysia moving forward.
This will increase Merlin’s reach in Asia, which is expected to be the new playground for theme park operators as the North American and European markets mature and visitor numbers plateau.

A report by Pricewaterhouse-Coopers forecast Asian theme park attendance to grow to 290 million in 2012 from 249 million in 2007, while spending in that period is expected to rise from US$6.4bil (RM19.93bil) to US$8.4bil.
Market research company Global Industry Analysts Inc estimates that the global theme parks market could reach US$29.5bil by the year 2015 and US$31.8bil by 2017, offering plenty of room for growth in Asia.

Boerst said Legoland may venture into other Asian markets and is already in negotiations for a theme park in South Korea.

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