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SeaWorld continuing with Chinese expansion plans despite domestic woes
POSTED 10 Aug 2017 . BY Tom Anstey
Despite recent setbacks in its latest earnings report, SeaWorld continues to move forward with its Chinese expansion plans following its partial acquisition by Chinese investment firm Zhonghong Zhuoye Group (ZZG) earlier this year.

Purchasing a 21 per cent stake of SeaWorld in March, ZZG and SeaWorld outlined their intention to design and develop future themed entertainment destinations, including theme parks, waterparks and FECs, in China, Taiwan, Hong Kong and Macau.

In its most recent earnings report, SeaWorld revealed it was not happy with results for the quarter, with plans to further slash costs while attempting to reshape itself following several years of turmoil.

Speaking during an earnings call, CEO Joel Manby said this action, however, would not affect the company’s long-term development plans.

“We're still moving forward in China,” he said. “We have light design work going on, but, really, it's a three-year study to figure out what is our process, what is our priority in China. We're looking at both FEC and theme park, and that's all actively ongoing. We hope to have an official agreement similar to what we had in Abu Dhabi as soon as possible.”

As part of the share purchase deal, two ZZG executives have joined SeaWorld’s board of directors. They are Yoshikazu Maruyama, president of the firm’s US operations, and chief strategy officer Wang Yongli, who has experience in global themed entertainment and business development in China.

“They're extremely good board members,” said Manby, commenting on the appointments. “They are very engaged and they want to see SeaWorld do well, and not only in the United States but also in China.”
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NEWS
SeaWorld continuing with Chinese expansion plans despite domestic woes
POSTED 10 Aug 2017 . BY Tom Anstey
Despite recent setbacks in its latest earnings report, SeaWorld continues to move forward with its Chinese expansion plans following its partial acquisition by Chinese investment firm Zhonghong Zhuoye Group (ZZG) earlier this year.

Purchasing a 21 per cent stake of SeaWorld in March, ZZG and SeaWorld outlined their intention to design and develop future themed entertainment destinations, including theme parks, waterparks and FECs, in China, Taiwan, Hong Kong and Macau.

In its most recent earnings report, SeaWorld revealed it was not happy with results for the quarter, with plans to further slash costs while attempting to reshape itself following several years of turmoil.

Speaking during an earnings call, CEO Joel Manby said this action, however, would not affect the company’s long-term development plans.

“We're still moving forward in China,” he said. “We have light design work going on, but, really, it's a three-year study to figure out what is our process, what is our priority in China. We're looking at both FEC and theme park, and that's all actively ongoing. We hope to have an official agreement similar to what we had in Abu Dhabi as soon as possible.”

As part of the share purchase deal, two ZZG executives have joined SeaWorld’s board of directors. They are Yoshikazu Maruyama, president of the firm’s US operations, and chief strategy officer Wang Yongli, who has experience in global themed entertainment and business development in China.

“They're extremely good board members,” said Manby, commenting on the appointments. “They are very engaged and they want to see SeaWorld do well, and not only in the United States but also in China.”
MORE NEWS
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Renderings have been released for a new science centre and planetarium coming to Sacramento, California, in 2020.
New aquarium to open in Montonegro in 2020
Montenegro’s Institute of Marine Biodiversity is building an aquarium, with the new attraction to sit underneath the Marine Biodiversity Conservation Centre in the coastal town of Kotor.
Eddie Kemsley returns to Dreamland as CEO
Dreamland – the heritage theme park in Margate, England – has confirmed the reappointment of its former chief executive officer Eddie Kemsley to the same position, two years after she left the business to take over at Kidzania London.
Canadian National Gallery CEO Marc Mayer steps down
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+ More news   
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Centre Director
Live Borders
Salary: Competitive
Job location: Galashiels, UK
Fundraising Officer - Berry Theatre and The Point
Eastleigh Borough Council
Salary: Circa £30,000
Job location: Eastleigh, UK
Expressions of Interest - High Lodge attractions
Forestry Commission
Salary:
Job location: Thetford, UK
Attraction (High Wires) Manager
Magna Vitae
Salary: £30,153 per annum
Job location: Skegness, UK
Operations Manager
Longleat
Salary: £28,000 to £35,000 per annum
Job location: Longleat, Warminster, UK
Glamping Site Manager
Chessington World of Adventures
Salary: Competitive
Job location: Chessington, UK
+ More jobs  
 


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

©Cybertrek 2019

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