ORLANDO, Fla.--()--IAAPA -- One Giant Leap, LLC, the innovator of the Parabounce® ballooning technology, today announced the development of the world’s first indoor ballooning attraction in Las Vegas – Parabounce® Vegas – an air-inflated, 100,000 square foot “bubble style” dome where up to 20 flyers can simultaneously float, soar and bounce in individual, 22-foot, Parabounce helium balloons.
“I tried Parabounce® when it first came out”
Parabounce® has been featured on NBC’s Today Show, in the closing ceremonies of the 2002 Winter Olympics in Salt Lake City, on dozens of broadcast networks worldwide and even flown on the Whitehouse lawn.
In addition to the more than one million people who have experienced the thrill of Parabouncing, famous “flyers” such as Chelsea Clinton and news anchor Katie Couric have also taken highly publicized joyrides.
Parabounce® was originally developed by company founder Stephen Meadows as an outdoor, “balloon jumping” experience aimed at generating funds for children’s charities. Parabouncing gives riders the unrivaled sensation of human-powered flight, previously available only to licensed balloonists or pilots. The new indoor attraction will enhance the experience by adding the excitement of “aerial bumper cars” along with a pedal-powered flying bicycle called the ParaBike.
Parabounce® enjoys a perfect safety record, without a single injury during its 10-year, million-rider history. The experience offers anyone (including children, seniors, and those with physical challenges) the freedom and weightlessness of balloon flight, enabling them to safely soar up to 100 feet in the air and bounce up to 200 yards in “one giant leap.”
“I tried Parabounce® when it first came out,” says Forbes’ contributing editor Alan Farnham. “You feel like you’re Superman--able to leap tall buildings at a single bound. Parabounce® would be a natural for Las Vegas, or for anywhere else you find people looking for a unique experience.”
Bruce Blake, aerospace engineer and owner of Advanced Hybrid Aircraft said, "One Giant Leap has come up with an exceptionally viable business model -- one based upon a sound expression of physics. Whether the location of Parabounce® is Las Vegas or on the Moon, this unique concept is fair dinkum."
Parabounce® is a perfect fit for Las Vegas and the current economic climate.
According to company founder and Parabounce® technology inventor, Stephen Meadows, Parabounce® is a “natural” for the Las Vegas scene. “Las Vegas has always broken new ground in the world of entertainment and attractions, so Parabounce® is a perfect fit, providing a major new tourist destination for the city,” said Meadows. “Parabounce® Vegas will unleash the potential of ballooning in a fun, safe environment that allows nearly everyone to experience the boundless freedom of flight. The current Las Vegas real estate climate makes this the perfect time to build the attraction, as families seek less expensive vacation alternatives that don’t sacrifice fun and thrills. We’re looking forward to making “Parabounce® Vegas our flagship, and subsequently, building facilities in a variety of entertainment venues worldwide.”
Proof of Concept, Patents
In 2002, One Giant Leap proved the concept of the indoor ballooning experience by leasing a 70,000 square foot facility and thoroughly testing the indoor Parabounce® experience in a public, and widely covered event.
Over the next five years, Meadows retained experts in the aerospace and experimental aircraft industries to assist in the development of a commercial enterprise while simultaneously obtaining U.S. and International utility patents for the indoor attraction. Today, after an investment of $5 million, One Giant Leap is breaking new ground with Parabounce® Vegas. The giant, air-inflated dome enclosing the attraction is akin to other sports domes for football and soccer fields, but on a much larger scale. The facility will also feature huge video projection screens, light shows and themed balloons in a variety of designs and shapes.
With more than 42 million visitors a year, Las Vegas is the ideal showcase for the new attraction. In 2008, a preliminary site plan for a prime location adjacent to the Strip was enthusiastically approved by the Clark County Building Department. Additional properties are also under consideration. Construction of the facility is expected to commence in May, 2011, and be completed by the end of the year.
One Giant Leap is currently in discussions with strategic investors to secure a relationship that can capitalize on the Parabounce® opportunity, not only in Las Vegas, but worldwide. To date, the company has received hundreds of inquiries from every corner of the globe expressing interest in installing the domes. Parabounce® is positioned to become a destination event experience in other high-volume tourist locations such as theme parks, beach communities and family recreation centers.
Highly profitable business model:
Based on raising $25 million in additional capital, One Giant Leap projects gross revenues of the Las Vegas facility at around $40 million a year. Initial revenues are expected in the first half of 2012 and the company expects profitability during its first year of operation. At a modest $20 per ride price, multiple Parabounce® balloons can generate more than $25 million in ride sales alone. Additional revenues are expected through the sale of DVDs that capture the rider’s experience as well as other profit centers such as arcades, concessions, clothing and souvenirs. Based on 50% capacity and conservative add-on sales, the company projects total profits in the first year of $24 million.
Though there are no current competitors to Parabounce®, (largely due to One Giant Leap’s patents), other “thrill-ride” destination attractions such as indoor skydiving and ziplining, have proven highly profitable and nearly “recession-proof.” The founder of an indoor skydiving operation recently stated in the Telegraph that indoor skydiving profits have grown by double digits throughout the recession. Since the first commercial zipline course was developed in Maui in 2002, more than 300 zipline attractions have been built throughout the world. But in comparison to ziplining and indoor skydiving – which tend to appeal to adrenaline junkies and the extremely fit – Parabounce® targets a much broader demographic. Almost everyone, whatever their physical condition, can enjoy Parabouncing.
About One Giant Leap:
One Giant Leap, LLC, was founded by Stephen Meadows, to fulfill a childhood dream of making the thrill of balloon flight accessible to everyone, no matter their age or physical abilities. In 1996, he developed Parabounce® – a 22-foot helium-filled balloon attraction designed to generate funds for children’s charities. Parabounce® was introduced to the world in 1999 on the Today Show, as Katie Couric soared 100 feet over Rockefeller Center. In 2002, Parabounce® balloons were the centerpiece of the closing ceremonies for the Salt Lake City Winter Olympics. The overwhelming public response to Parabounce® (featured in media such as NBC’s ‘Today’ Show, CBS’s ‘This Morning’, Entertainment Tonight, Access Hollywood, MTV, MSNBC, CNN, BBC, Forbes, Sports Illustrated, Popular Mechanics and the LA Times) set Meadows on the road to expanding and developing the technology into an indoor ballooning attraction – a 100,000 square foot, bubble-like dome where up to 20 riders at a time can fulfill their dreams of weightless flight. Meadows is currently developing a flagship showcase facility in Las Vegas, Parabounce® Vegas, and will be expanding the franchise to tourist destinations and vacation hot spots throughout the world. For more information on Parabounce® go to www.parabounce.com. Additional images are available at: Parabounce Press and Images. Video is available at: Parabounce Video.
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