Southeast Asia’s first Marvel Entertainment theme park is going out of business just seven months after opening.
Marvel Experience Thailand, a 20,000sqm theme park complex which cost 1 billion baht to build at Mega Bangna, will close Jan. 30, the company announced Monday.
Director Prachuap Ucchin of Demeter Corp. PCL, which owns 37.5 percent of the theme park, wrote in a Monday filing to the Stock Exchange of Thailand Monday that a majority of shareholders had voted to shut the park.
“Hero Experience experienced financial problems and project management that did not go according to plan,” Prachuap wrote in the statement.
Calls to Hero Experience and CEO Noppadon Chirasanti went unanswered.
The news was met with little surprised reactions online, where many cited the venue’s high costs of admission – 1,500 baht for adults and 1,350 baht for children – as a fatal flaw. Others noted that, whether due to licensing deal or choice, it was focused on Marvel’s comic books rather than the more popular film franchise.