Patrick
08-16-2004, 12:42 AM
Last year, the Water Taxi's on the Bricktown canal lost money for the first year since they've been in operation. This year they're back on the plus side. And restaurant business in Bricktown has increased 10% over last year. This is great news for the Bricktown area!
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"Bricktown's water taxis see revenue gain
By Steve Lackmeyer
The Oklahoman
Just one year after posting its first financial loss, business is on the upswing again for Bricktown's water taxis.
The boat tours, a joint venture between Water Taxi of Oklahoma and Oklahoma City, are increasing in popularity this fiscal year, operator Chad Huntington said.
For the 2004 fiscal year that ended June 30, the operation reported revenues totaling $529,677 -- a nearly 10 percent increase over the previous year's income of $484,396.
Business last month was up 38 percent compared with the same month last year, Huntington said.
"People are interested to see what's going on in Bricktown," Huntington said. "We're seeing several hundred dollars in ticket sales at the Bass Pro Shops dock, where we're seeing lots of people hopping on and off the boats."
This time last year, the water taxi operation was posting its first loss, a $95,000 deficit. When the operation started in 1999, Oklahoma City officials anticipated having to cover up to $250,000 in annual losses the first few years.
The city actually made a profit off the venture the first four years. After having to cover last year's loss, the city was still ahead by $150,000.
The profit for the latest fiscal year totaled $965. Passenger counts totaled 109,982, compared with 103,961 the previous year. A 20 percent increase in charter trips contributed to the improved financial outlook, Huntington said.
Frank Sims, director of the Bricktown Association, said the water taxis are an important measure of traffic in the downtown entertainment district.
Bad weather and a canal drained for improvements were blamed for poor visitor counts in early 2003. Sims credits this year's rebound to a mild summer and the development of Lower Bricktown -- the same keys to improved water taxi passenger counts.
"With the higher volume that the water taxis are doing, clearly, we're also seeing a 10 percent increase in restaurant sales across the district," Sims said.
Sims and Huntington said the next growth spurt for Bricktown will follow the scheduled October opening of the 16-screen Harkins Theatres, an elaborate fountain plaza and an assortment of neighboring restaurants and shops that will be the center of Lower Bricktown."
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"Bricktown's water taxis see revenue gain
By Steve Lackmeyer
The Oklahoman
Just one year after posting its first financial loss, business is on the upswing again for Bricktown's water taxis.
The boat tours, a joint venture between Water Taxi of Oklahoma and Oklahoma City, are increasing in popularity this fiscal year, operator Chad Huntington said.
For the 2004 fiscal year that ended June 30, the operation reported revenues totaling $529,677 -- a nearly 10 percent increase over the previous year's income of $484,396.
Business last month was up 38 percent compared with the same month last year, Huntington said.
"People are interested to see what's going on in Bricktown," Huntington said. "We're seeing several hundred dollars in ticket sales at the Bass Pro Shops dock, where we're seeing lots of people hopping on and off the boats."
This time last year, the water taxi operation was posting its first loss, a $95,000 deficit. When the operation started in 1999, Oklahoma City officials anticipated having to cover up to $250,000 in annual losses the first few years.
The city actually made a profit off the venture the first four years. After having to cover last year's loss, the city was still ahead by $150,000.
The profit for the latest fiscal year totaled $965. Passenger counts totaled 109,982, compared with 103,961 the previous year. A 20 percent increase in charter trips contributed to the improved financial outlook, Huntington said.
Frank Sims, director of the Bricktown Association, said the water taxis are an important measure of traffic in the downtown entertainment district.
Bad weather and a canal drained for improvements were blamed for poor visitor counts in early 2003. Sims credits this year's rebound to a mild summer and the development of Lower Bricktown -- the same keys to improved water taxi passenger counts.
"With the higher volume that the water taxis are doing, clearly, we're also seeing a 10 percent increase in restaurant sales across the district," Sims said.
Sims and Huntington said the next growth spurt for Bricktown will follow the scheduled October opening of the 16-screen Harkins Theatres, an elaborate fountain plaza and an assortment of neighboring restaurants and shops that will be the center of Lower Bricktown."