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NEWS
Tough year for SeaWorld as operator reports lacklustre figures
POSTED 28 Feb 2017 . BY Tom Anstey
SeaWorld CEO Joel Manby has previously said the company had no choice but to bring an end to its controversial orca shows or risk the eventual demise of its parks.
SeaWorld has submitted its end of year results, with revenues and attendance both down on 2015 as the company continues to try and transform its image, putting “fun but meaningful” at the forefront of its PR campaign.

Total revenues for 2016 were US$1.34bn (€1.26bn, £1.07bn), slightly lower than the US$1.37bn (€1.29bn, £1.1bn) recorded in 2015. The company also recorded a net loss of US$12.5m (€11.8m, £10m) in 2016, compared with a net profit of US$49.1m (€46.3m, £39.5m) the year before.

Heavy decline at SeaWorld’s Florida and Northeast park locations saw an overall decline in attendance by 471,000 visitors – a 2.1 per cent overall decrease across the company’s parks year-on-year.

For the final quarter of the year, SeaWorld was hurt by higher expenses and fewer people visiting its parks, with a dip of 30,000 visitors and revenue from admissions declining by 3 per cent.

The company blamed attendance on Hurricane Matthew, which temporarily closed its Florida attractions in October, also blaming “softness” in the Latin America market, which traditionally is a big draw for the operator.

The park also endured the death of infamous orca Tilikum, who died in January and was featured in the 2013 documentary Blackfish, which has been at the root of the company’s ongoing struggles.

“We ended the year exceeding our guidance and generating improved revenue and attendance in California and Texas, in particular, two locations which presented us challenges in 2015,” said SeaWorld CEO Joel Manby.

“Our focus on driving revenue growth by providing guests with experiences that matter is gaining traction. In the fourth quarter, we implemented the first phase of our cost optimisation program which had a positive impact on results, and we continue to find new ways to be more efficient."

Manby added: “Building on the platform for growth we established in 2016, we are energised going into 2017 as we launch some of the most innovative new rides and attractions in our history, while deploying our capital more efficiently. We remain focused on financial discipline to improve our financial strength and flexibility over the long term.

"We are committed to strengthening our foundation, and our board and management team are moving fast to implement our initiatives to increase value for our shareholders.”
RELATED STORIES
  SeaWorld's Doug Stagner named new IAAPA COO and EVP


IAAPA has named attractions veteran Doug Stagner as its new COO and executive vice president – a newly created position designed to help the organisation achieve its goals and handle growth and global infrastructure.
  SeaWorld’s Tilikum dies as controversial orca shows laid to rest


Just days since SeaWorld San Diego announced its final orca show would be on 8 January, the marine park brand’s most famous animal, Tilikum, has died.
  Former Disney exec appointed as SeaWorld’s chief marketer


Former Disney Parks executive Denise Godreau has joined SeaWorld Entertainment as chief marketing officer.
  SeaWorld hosting final California orca show on 8 January


SeaWorld will take the next big step in its company-wide evolution this Sunday (8 January), with its San Diego park hosting its last theatrical orca show, a staple of the entertainment giant for many decades.
MORE NEWS
The Everyday Heritage initiative celebrates and preserves working class histories
Off the back of the success of the first round of Everyday Heritage Grants in 2022, Historic England is funding 56 creative projects that honour the heritage of working-class England.
Universal announces long-awaited details of its Epic Universe, set to open in 2025
Universal has revealed it will be adding new Harry Potter attractions, alongside Super Nintendo and How to Train Your Dragon worlds to its Florida resort.
Heartbreak for Swedish theme park, Liseberg, as fire breaks out
A fire has destroyed part of the new water world, Oceana, at Liseberg in Sweden, and a construction worker has been reported missing.
Museum director apologises after comparing the city of Florence to a sex worker
Museum director Cecilie Hollberg has come under fire for comparing the city to a sex worker due to uncontrolled mass tourism.
+ More news   
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COMPANY PROFILES
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Holovis is a privately owned company established in 2004 by CEO Stuart Hetherington. [more...]
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iPlayCo was established in 1999. [more...]
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Jobs    News   Products   Magazine   Subscribe
NEWS
Tough year for SeaWorld as operator reports lacklustre figures
POSTED 28 Feb 2017 . BY Tom Anstey
SeaWorld CEO Joel Manby has previously said the company had no choice but to bring an end to its controversial orca shows or risk the eventual demise of its parks.
SeaWorld has submitted its end of year results, with revenues and attendance both down on 2015 as the company continues to try and transform its image, putting “fun but meaningful” at the forefront of its PR campaign.

Total revenues for 2016 were US$1.34bn (€1.26bn, £1.07bn), slightly lower than the US$1.37bn (€1.29bn, £1.1bn) recorded in 2015. The company also recorded a net loss of US$12.5m (€11.8m, £10m) in 2016, compared with a net profit of US$49.1m (€46.3m, £39.5m) the year before.

Heavy decline at SeaWorld’s Florida and Northeast park locations saw an overall decline in attendance by 471,000 visitors – a 2.1 per cent overall decrease across the company’s parks year-on-year.

For the final quarter of the year, SeaWorld was hurt by higher expenses and fewer people visiting its parks, with a dip of 30,000 visitors and revenue from admissions declining by 3 per cent.

The company blamed attendance on Hurricane Matthew, which temporarily closed its Florida attractions in October, also blaming “softness” in the Latin America market, which traditionally is a big draw for the operator.

The park also endured the death of infamous orca Tilikum, who died in January and was featured in the 2013 documentary Blackfish, which has been at the root of the company’s ongoing struggles.

“We ended the year exceeding our guidance and generating improved revenue and attendance in California and Texas, in particular, two locations which presented us challenges in 2015,” said SeaWorld CEO Joel Manby.

“Our focus on driving revenue growth by providing guests with experiences that matter is gaining traction. In the fourth quarter, we implemented the first phase of our cost optimisation program which had a positive impact on results, and we continue to find new ways to be more efficient."

Manby added: “Building on the platform for growth we established in 2016, we are energised going into 2017 as we launch some of the most innovative new rides and attractions in our history, while deploying our capital more efficiently. We remain focused on financial discipline to improve our financial strength and flexibility over the long term.

"We are committed to strengthening our foundation, and our board and management team are moving fast to implement our initiatives to increase value for our shareholders.”
RELATED STORIES
SeaWorld's Doug Stagner named new IAAPA COO and EVP


IAAPA has named attractions veteran Doug Stagner as its new COO and executive vice president – a newly created position designed to help the organisation achieve its goals and handle growth and global infrastructure.
SeaWorld’s Tilikum dies as controversial orca shows laid to rest


Just days since SeaWorld San Diego announced its final orca show would be on 8 January, the marine park brand’s most famous animal, Tilikum, has died.
Former Disney exec appointed as SeaWorld’s chief marketer


Former Disney Parks executive Denise Godreau has joined SeaWorld Entertainment as chief marketing officer.
SeaWorld hosting final California orca show on 8 January


SeaWorld will take the next big step in its company-wide evolution this Sunday (8 January), with its San Diego park hosting its last theatrical orca show, a staple of the entertainment giant for many decades.
MORE NEWS
The Everyday Heritage initiative celebrates and preserves working class histories
Off the back of the success of the first round of Everyday Heritage Grants in 2022, Historic England is funding 56 creative projects that honour the heritage of working-class England.
Universal announces long-awaited details of its Epic Universe, set to open in 2025
Universal has revealed it will be adding new Harry Potter attractions, alongside Super Nintendo and How to Train Your Dragon worlds to its Florida resort.
Heartbreak for Swedish theme park, Liseberg, as fire breaks out
A fire has destroyed part of the new water world, Oceana, at Liseberg in Sweden, and a construction worker has been reported missing.
Museum director apologises after comparing the city of Florence to a sex worker
Museum director Cecilie Hollberg has come under fire for comparing the city to a sex worker due to uncontrolled mass tourism.
Populous reveals plans for major e-sports arena in Saudi Arabia
Populous have unveiled their plans for a state-of-the-art e-sports arena, designed to stand as a central landmark in Qiddaya City’s gaming and e-sports district, Saudi Arabia.
Raby Castle reveals ambitious plans to become a major visitor destination
Raby Castle, known as one of the finest medieval fortifications in England, is nearing the end of an ambitious two-year renovation project.
+ More news   
 
COMPANY PROFILES
Holovis

Holovis is a privately owned company established in 2004 by CEO Stuart Hetherington. [more...]
Taylor Made Designs

Taylor Made Designs (TMD) has been supplying the Attractions, Holiday Park, Zoos and Theme Park mark [more...]
IAAPA EMEA

IAAPA Expo Europe was established in 2006 and has grown to the largest international conference and [more...]
iPlayCO

iPlayCo was established in 1999. [more...]
+ More profiles  
CATALOGUE GALLERY
+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

08-08 May 2024

Hospitality Design Conference

Hotel Melià , Milano , Italy
10-12 May 2024

Asia Pool & Spa Expo

China Import & Export Fair Complex, Guangzhou, China
+ More diary  
 


ADVERTISE . CONTACT US

Leisure Media
Tel: +44 (0)1462 431385

©Cybertrek 2024

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