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Legoland performs for Merlin, but UK attractions struggle following terror attacks
POSTED 07 Aug 2017 . BY Tom Anstey
New additions to its portfolio and strong performances from its Lego attractions have boosted revenues for Merlin Entertainments, though the operator says its attractions in the UK are suffering as a result of recent terror attacks in the country.

Reporting its latest earnings, in the first half of 2017, Merlin recorded increased revenues of £685m (US$891.7m, €756.3m) – up by 9.6 per cent - while earnings before interest, tax, depreciation and amortisation (EBITDA) were £144m (US$187.5m, €159m) – an increase of 2.4 per cent.

Visitor numbers for the first half of the year were also up, increasing 6.2 per cent, with 29.7 million visitors to Merlin attractions so far this year.

Merlin said it had strong revenue performance despite some “difficult markets” particularly softness in the UK theme park market and its midway attractions in London, which it called “subdued”.

“The series of terror attacks in the UK immediately and significantly reduced domestic demand, and we remain cautious on international visitation over the key summer trading period given the lag between international bookings and visitation,” said the operator in a statement.

For Merlin’s Midway division, which includes attractions such as Shrek’s Adventure, Dungeons and Sea Life aquariums, operating profits fell from £91m (US$118.5m, €100.5m) to £89m (US$115.9m, €98.3m), though this figure also included the opening of new attractions.

Merlin’s Legoland parks have performed well, with revenue increasing 8 per cent to £267m (US$347.6m, €294.9m), and operating profits up 32.1 per cent to £85m (US$110.6m, €93.9m). Merlin attributed these increases to the launch of Legoland Japan, a strong Easter period and new accommodation at its parks in Billund and Florida.

"We continue to be excited by the long term underlying growth prospects in our market and have the strategy in place to exploit these,” said Merlin chief executive Nick Varney.

“We remain on track to meet our 2020 milestone targets, supported not only by the attractions and accommodation opened to date, but also by the progress we have made on the pipeline, in particular the ongoing development of new brands which will underpin the longer term roll out."
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Jobs . News . Products . Magazine
NEWS
Legoland performs for Merlin, but UK attractions struggle following terror attacks
POSTED 07 Aug 2017 . BY Tom Anstey
New additions to its portfolio and strong performances from its Lego attractions have boosted revenues for Merlin Entertainments, though the operator says its attractions in the UK are suffering as a result of recent terror attacks in the country.

Reporting its latest earnings, in the first half of 2017, Merlin recorded increased revenues of £685m (US$891.7m, €756.3m) – up by 9.6 per cent - while earnings before interest, tax, depreciation and amortisation (EBITDA) were £144m (US$187.5m, €159m) – an increase of 2.4 per cent.

Visitor numbers for the first half of the year were also up, increasing 6.2 per cent, with 29.7 million visitors to Merlin attractions so far this year.

Merlin said it had strong revenue performance despite some “difficult markets” particularly softness in the UK theme park market and its midway attractions in London, which it called “subdued”.

“The series of terror attacks in the UK immediately and significantly reduced domestic demand, and we remain cautious on international visitation over the key summer trading period given the lag between international bookings and visitation,” said the operator in a statement.

For Merlin’s Midway division, which includes attractions such as Shrek’s Adventure, Dungeons and Sea Life aquariums, operating profits fell from £91m (US$118.5m, €100.5m) to £89m (US$115.9m, €98.3m), though this figure also included the opening of new attractions.

Merlin’s Legoland parks have performed well, with revenue increasing 8 per cent to £267m (US$347.6m, €294.9m), and operating profits up 32.1 per cent to £85m (US$110.6m, €93.9m). Merlin attributed these increases to the launch of Legoland Japan, a strong Easter period and new accommodation at its parks in Billund and Florida.

"We continue to be excited by the long term underlying growth prospects in our market and have the strategy in place to exploit these,” said Merlin chief executive Nick Varney.

“We remain on track to meet our 2020 milestone targets, supported not only by the attractions and accommodation opened to date, but also by the progress we have made on the pipeline, in particular the ongoing development of new brands which will underpin the longer term roll out."
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Philadelphia's Barnes Foundation art gallery has used machine learning to create an intelligent art critic, with the technology able to interpret and pair digital artwork together to recognise art style, objects and even images of Jesus.
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Two Trees, James Corner Field and Shop Architects team up on Williamsburg waterfront park
New York-based developer Two Trees Management has opened a disused sugar factory redevelopment in Williamsburg, Brooklyn, turning the site into a waterfront park.
+ More news   
LATEST JOBS
Overnight Accommodation Manager
Zoological Society of London
Salary: £31,464 per annum
Job location: London, UK
Forest Centre Operations Manager
Forestry Commission
Salary: £29,695 - £32,811
Job location: Thetford, UK
Marketing Manager
Legoland Discovery Centre
Salary: Competitive
Job location: Kansas City, Missouri, USA
Marketing Manager
Legoland Discovery Centre
Salary: Competitive
Job location: Melbourne VIC, Australia
Facilities Technician
Legoland
Salary: Competitive
Job location: Winter Haven, Florida, USA
Education Specialist
Sea Life
Salary: Competitive
Job location: Kansas City, Missouri, USA
+ More jobs  
 


ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2018

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
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ATTRACTIONS MANAGEMENT NEWS
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