- Pandemic cuts crowds visiting Graceland mansion in Memphis
- Baz Luhrmann’s biopic on King of Rock n’ Roll may spur rebound
A debt default by Graceland, the Elvis Presley mansion turned tourist attraction, shows why investors in other municipally financed venues may one day be singing the blues.
For years, I’ve used attendance at Graceland as the standard by which museums and other projects hoping to tap the bond market must be judged.
Though the King of Rock and Roll died Aug. 16, 1977, he has active fan clubs and buyers of his music worldwide and a new biopic in theaters. That’s why his Memphis home still draws around 500,000 visitors a year, down about a third from the crowds that came 25 years ago.
Bloomberg Markets
By Joseph Mysak Jr
July 13, 2022