The Virginia-Pilot editorial board just wrote a piece about the financial situation at Colonial Williamsburg improving.
“THE DIRE financial situation at Colonial Williamsburg has improved in the past year, and that’s good news for those worried about its future.
The historic tourist attraction is struggling to overcome years of bad business decisions and budget troubles, which led to this startling announcement last year by its president and CEO, Mitchell Reiss: “We will go out of business unless we make fundamental changes.”
Colonial Williamsburg had lost an average of nearly $150,000 per day in 2016 and was rapidly depleting its substantial endowment. The changes required to reduce the losses included painful layoffs last year.”