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The Default of Elvis's Graceland Should Worry Tourism Sites: Joe Mysak

  • Pandemic cuts crowds visiting Graceland mansion in Memphis
  • Baz Luhrmann’s biopic on King of Rock n’ Roll may spur rebound
Visitors enter Graceland in Memphis, Tennessee.

Visitors enter Graceland in Memphis, Tennessee.

Photographer: Mandel Ngan/AFP/Getty Images 

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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.