Dumbest Business Idea Of The Year
Tatiana Serafin, 07.05.04
Recycling entrepreneur Bernie C. Karl thought he had a cool way to lure tourists to remote Chena Hot Springs, 60 miles east of Fairbanks, Alaska. He would erect the world's first and only year-round hotel made of ice. Three other ice hotels, in Finland, Sweden and Canada, offer winter-only ice capades.
Karl's six-room Aurora Ice Hotel opened in December. Before spring was over, it was melting, along with his $20,000 investment. He somehow miscalculated the effect of 24-hour summer sun and 90-degree heat on the structure.
"I had a frozen asset. It's now a liquid asset," confesses Karl. He plans to rebuild, this time with thicker insulation.
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