Post-Covid, Elvis Presley's Graceland bonds default

TravelJuly 24, 2022 News
Post-Covid, Elvis Presley's Graceland bonds default

From CNN | Business by Alexandra Peers, CNN Business

Why Elvis Presley's Graceland going into default may have implications for other tourist attractions

Covid-19 hurt Graceland so much that Tennessee state-issued bonds tied to tourist revenue have gone into default. The city of Memphis, the state and Elvis Presley Enterprises are squabbling over how this happened and how to fix a slide that brought some $20 million of Graceland Project bonds down to "junk" status.

Graceland is one of the South's biggest tourist draws and for years was the nation's second most-visited home after the White House. Then came Covid.

Graceland's default may have implications for other tourist attractions and cultural sites nationwide that have pledged revenues to raise financing.

Photo by Brandon Dill, Associated Press

Read More at CNN