Upbeat 2018 results for Merlin Entertainments provide impetus for further growth | attractionsmanagement.com news
POST YOUR JOB ONLINE
Free ezine/digital edition sign up
Jobs . News . Features . Video . Products . Magazine . Handbook . Advertise . Contact us  
NEWS
Upbeat 2018 results for Merlin Entertainments provide impetus for further growth
POSTED 01 Mar 2019 . BY Andy Knaggs
We continue to seek to mitigate ongoing external cost pressures
– Nick Varney
European attractions operator Merlin Entertainments has reported growth in a number of areas of its business in 2018, including record visitor numbers.

Some 67 million people visited Merlin’s attractions during the year, up from 66 million in the year to December 2017. The operator reports a profit before tax of £285m (US$377m, €332m), an increase of 4.9 per cent on 2017, with its operating free cash flow increasing by 9.7 per cent to £345m (US$457m, €402m).

Across different sectors of the business, there was an organic revenue increase of 6.4 per cent for Legoland, driven by the opening of more than 640 accommodation rooms, which offset a broadly flat like for like performance. Merlin said that a further 372 rooms are expected to open in 2019 at locations such as Alton Towers and the Magic Hotel at Gardaland. Resort Theme Parks organic revenue grew by 9.1 per cent, through product investment, favourable weather and a strong Halloween, while Midway Attractions saw its organic revenue grow by 1.1 per cent on the year.

The preliminary results drew attention to the potential for continued growth, with continued progress towards opening Legoland New York in 2020, an agreement to open another Legoland park in Korea by 2022, the launch of two new Midway brands in Peppa Pig World and The Bear Grylls Adventure, and a "productivity agenda" which is expected to yield up to £35m (US$46m, €40m) of annual savings by 2022.

Nick Varney, chief executive officer of Merlin Entertainments, commented: "2018 saw improved momentum across most of our businesses, reflecting the strength of our diversified portfolio and geographic spread. Resort Theme Parks benefited from successful product investment such as Wicker Man at Alton Towers; Legoland Parks’ growth was driven by record levels of accommodation openings; and, in addition to the contribution of seven new attractions, Midway saw improving trends in London.

"We continue to seek to mitigate ongoing external cost pressures and expect to deliver up to £35m of annualised savings by 2022 through a number of initiatives. Not only will this help underpin our financial outlook, but it will also better enable our people to deliver what matters most to our guests: fantastic memorable experiences."
LATEST JOBS
General Manager
Heritage Great Britain
Salary: £70k package
Job location: Sennen, Penzance, UK
Head of Visitor Development
The Crown Estate
Salary: Exemplary salary package
Job location: Windsor, UK
Consultancy Manager - Support and Revenue
National Trust
Salary: £48,680 pa
Job location: County Down, Northern Ireland, UK
Theatre Technician
Parkwood Leisure
Salary: Competitive
Job location: Crawley, UK
Guest Experience Manager - Operations
Sea Life
Salary: Competitive
Job location: Orlando, Florida, USA
Events and Education Manager
Legoland
Salary: Competitive
Job location: Carlsbad, California, USA
+ More jobs  

COMPANY PROFILE
Red Raion

Founded in 2014, Red Raion is the first VR movie production company in the attractions industry. [more...]
+ More profiles  
FEATURED SUPPLIER

How can travelling exhibitions adapt for the future?
Emily Cronin, partnerships manager at the Science Museum Group in the UK, shares insights into evolving business models for touring exhibitions in Spokes, Ecsite’s magazine. [more...]
VIDEO GALLERY

instantprint - Online Print Made Easy!
We're the only online printing company who really gets your business. Find out more...
More videos:
Introducing AnimaChat! – Animalive
Simworx - The power to move you… – Simworx
Red Raion - VR/5D Films Showreel 2016 – Red Raion
+ More videos  

CATALOGUE GALLERY
 

+ More catalogues  
DIRECTORY
+ More directory  
DIARY

25-27 Jun 2019

BALPPA Summer Conference 2019

The Balmer Lawn Hotel and Carey’s Manor Hotel, New Forest, United Kingdom
04 Jul 2019

National Hotel Marketing Conference

Hilton at St George's Park, Burton-on-Trent, United Kingdom
+ More diary  
LATEST ISSUES
+ View Magazine Archive

Attractions Management

2019 issue 2


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription

Attractions Management

2019 issue 1


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription

Attractions Management

2018 issue 4


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription

Attractions Management

2018 issue 3


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription

Attractions Management News

12 Jun 2019 issue 132


View on turning pages
Download PDF
View archive
FREE digital subscription
Print subscription

Attractions Handbook

2019


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription
 
ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
 
ATTRACTIONS MANAGEMENT
ATTRACTIONS MANAGEMENT NEWS
ATTRACTIONS HANDBOOK
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS
ADVERTISE . CONTACT US

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

©Cybertrek 2019
Jobs . News . Products . Magazine
NEWS
Upbeat 2018 results for Merlin Entertainments provide impetus for further growth
POSTED 01 Mar 2019 . BY Andy Knaggs
We continue to seek to mitigate ongoing external cost pressures
– Nick Varney
European attractions operator Merlin Entertainments has reported growth in a number of areas of its business in 2018, including record visitor numbers.

Some 67 million people visited Merlin’s attractions during the year, up from 66 million in the year to December 2017. The operator reports a profit before tax of £285m (US$377m, €332m), an increase of 4.9 per cent on 2017, with its operating free cash flow increasing by 9.7 per cent to £345m (US$457m, €402m).

Across different sectors of the business, there was an organic revenue increase of 6.4 per cent for Legoland, driven by the opening of more than 640 accommodation rooms, which offset a broadly flat like for like performance. Merlin said that a further 372 rooms are expected to open in 2019 at locations such as Alton Towers and the Magic Hotel at Gardaland. Resort Theme Parks organic revenue grew by 9.1 per cent, through product investment, favourable weather and a strong Halloween, while Midway Attractions saw its organic revenue grow by 1.1 per cent on the year.

The preliminary results drew attention to the potential for continued growth, with continued progress towards opening Legoland New York in 2020, an agreement to open another Legoland park in Korea by 2022, the launch of two new Midway brands in Peppa Pig World and The Bear Grylls Adventure, and a "productivity agenda" which is expected to yield up to £35m (US$46m, €40m) of annual savings by 2022.

Nick Varney, chief executive officer of Merlin Entertainments, commented: "2018 saw improved momentum across most of our businesses, reflecting the strength of our diversified portfolio and geographic spread. Resort Theme Parks benefited from successful product investment such as Wicker Man at Alton Towers; Legoland Parks’ growth was driven by record levels of accommodation openings; and, in addition to the contribution of seven new attractions, Midway saw improving trends in London.

"We continue to seek to mitigate ongoing external cost pressures and expect to deliver up to £35m of annualised savings by 2022 through a number of initiatives. Not only will this help underpin our financial outlook, but it will also better enable our people to deliver what matters most to our guests: fantastic memorable experiences."
RELATED STORIES
Legoland Korea given green light after funding agreement


Merlin Entertainments is set to open its first Legoland theme park in South Korea, having entered into a partnership agreement that will draw significant local government funding and infrastructure support.
Merlin reveals plans to grow Australian portfolio with new attractions


A new Legoland Discovery Centre and Dungeons attractions are being planned for Australia and New Zeland by operator Merlin Entertainments, according to divisional director Rob Smith.
Merlin plans second Legoland park in China


Operator Merlin Entertainments is to bring a second Legoland resort to China – to add to the one under construction in Shanghai – in Sanya, Hainan Province.
Merlin Entertainments opens first Bear Grylls attraction in Birmingham


Celebrity survivalist Bear Grylls’s new £20m ($26.3m, €22.5m) adventure attraction in Birmingham, England has opened its doors to the public with a promise from Grylls to bring the “spirit of endeavour” to one destination.
MORE NEWS
New lottery fund offers £100m for major UK heritage projects
The UK's National Lottery Heritage Fund has launched a new three-year, £100m (US$127.6m, €112m) grant scheme aimed at "ambitious, innovative and transformational" projects in UK heritage.
World's longest waterslide coming to Malaysia
A new entry could soon be made in the Guinness Book of World Records, when Escape Theme Park in Teluk Bahang, Penang, Malaysia, opens its new water slide, reportedly set for August.
US$55m waterpark coming to Cambodian capital by end of 2019
One of the most significant waterpark projects in Southeast Asia is currently under development in Phnom Penh, Cambodia, with the US$55m (€48.3m, £43.2m) Angkor Water Park set to open its doors by the end of the year.
Expansion for Greensboro Science Center aims to 'open minds and build futures'
A new ten-year plan has been unveiled by Greensboro Science Center (GSC) in North Carolina, US, incorporating a package of expansions and renovations to the site, which currently features an aquarium, museum and zoo.
Sea Life Trust welcomes two beluga whales into retirement with new sanctuary
Two beluga whales from the Chang Feng Ocean World aquarium in Shanghai have completed a 6,000 mile journey to their new home ‒ a specially constructed marine sanctuary in Iceland ‒ where they will see out their days.
Eden Project North starts to take shape with tentative 2023 opening date set
The first stage in the preparation of a planning application for the proposed Eden Project North in the UK has been completed, with the submission of an Environmental Impact Assessment Scoping Report to Lancaster City Council.
+ More news   
 
COMPANY PROFILE
Red Raion

Founded in 2014, Red Raion is the first VR movie production company in the attractions industry. [more...]
+ More profiles  
FEATURED SUPPLIER

How can travelling exhibitions adapt for the future?
Emily Cronin, partnerships manager at the Science Museum Group in the UK, shares insights into evolving business models for touring exhibitions in Spokes, Ecsite’s magazine. [more...]
VIDEO GALLERY

instantprint - Online Print Made Easy!
We're the only online printing company who really gets your business. Find out more...
More videos:
Introducing AnimaChat! – Animalive
Simworx - The power to move you… – Simworx
Red Raion - VR/5D Films Showreel 2016 – Red Raion
+ More videos  

CATALOGUE GALLERY
 

+ More catalogues  
DIRECTORY
+ More directory  
DIARY

25-27 Jun 2019

BALPPA Summer Conference 2019

The Balmer Lawn Hotel and Carey’s Manor Hotel, New Forest, United Kingdom
04 Jul 2019

National Hotel Marketing Conference

Hilton at St George's Park, Burton-on-Trent, United Kingdom
+ More diary  
 


ADVERTISE . CONTACT US

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

©Cybertrek 2019

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
ATTRACTIONS MANAGEMENT NEWS
ATTRACTIONS HANDBOOK
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS