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October 23rd, 2017

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Failed European Business Models

News of the Weird by Chuck Shepherd

By News of the Weird by Chuck Shepherd

Published Sept. 3, 2015

Failed European Business Models

(1) Grande Hotel San Calogero, the planned centerpiece of a Sicilian tourist renaissance, is still nowhere close to opening -- 61 years after construction began. It took 30 years to build, but then developers fought for 10 years over its management, and only later was a serious drainage deficiency discovered (repair of which Rome's news site The Local reported in July remains unfunded).

(2) Construction of the ultra-modern Don Quixote airport (in Ciudad Real, Spain, about an hour from Madrid) was finished in 2006, but the $1 billion facility never opened, and in July, was sold to a Chinese investor for the equivalent of $11,000. (Bonus: Fictional character Don Quixote was, himself, noted for delusions of grandeur.) [The Local (Rome), 7-16-2015] [Quartz (qz.com), 7-21-2015]

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