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NEWS
SeaWorld announces poor Q1 results for 'transitional' 2016
POSTED 06 May 2016 . BY Tom Anstey
SeaWorld vowed to end orca breeding at its parks in March but CEO Joel Manby expects it to be years before it has a positive effect on the operator's finances
Despite making a number of positive moves to redefine itself as a park that cares and one that wants to create memorable experiences, SeaWorld suffered a disappointing first quarter, with CEO Joel Manby saying he expects the trend to continue through the year.

The positive for SeaWorld is the company did increase attendance in its park compared to the same period in 2015 by 2.6 percent - 3.3 million for the quarter. Despite this, the company posted a quarterly loss, of US$84m (€74m, £58m), an increase compared with the year earlier loss of US$43.6m (€38m, £30m).

Under much public pressure, SeaWorld said in March that it would stop breeding orcas and cease its theatrical shows, a dramatic shift but one that won’t be happening quickly as the company has 30 killer whales with a life expectancy as high as 50 years.

"Our March announcement to end all orca breeding and transition our theatrical shows toward more natural orca encounters, as well as our new partnership with the Humane Society of the United States, were transformational decisions that we expect should contribute to an improvement in performance over time, as consumers begin to recognise our continued commitment to providing them experiences that matter," said Joel Manby, who added that 2016 was a “transitional year” for the operator.

RELATED STORIES
  Former SeaWorld CEO Jim Atchison leaves company in board shakeup


SeaWorld Entertainment has announced the departure of former CEO Jim Atchison from the company’s board, also appointing two veteran theme park industry executives – Ron Bension and Donald Robinson – to roles at the head of the company.
  Analysts predict SeaWorld shares will jump more than 50 per cent in the next year


Stock analysts have predicted a positive year for SeaWorld, with shares in the company expected to rise as high in value as US$27 (€24, £19) in the next year.
  SeaWorld ending orca captivity at its parks


SeaWorld has announced that it is ending orca captivity at its parks.
  SeaWorld stems tide of attendance and revenue decline; firms up plans for Middle East expansion


Attendances and revenues at SeaWorld attractions during 2015 were reported as almost the same as the previous year, as CEO Joel Manby insists the marine park company is stabilising.
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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Director of Operations
Active Luton
Salary: £61,000 - £64,000 + exceptional pension + excellent benefits
Job location: Luton , United Kingdom
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Mount Batten Group
Salary: c£65,000pa + pension + benefits
Job location: mount batten centre, plymouth , United Kingdom
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COMPANY PROFILES
IAAPA EMEA

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

The company was initially established in 1997. Terry Monkton and Andrew Roberts are the key stakeh [more...]
Holovis

Holovis is a privately owned company established in 2004 by CEO Stuart Hetherington. [more...]
Polin Waterparks

Polin was founded in Istanbul in 1976. Polin has since grown into a leading company in the waterpa [more...]
+ More profiles  
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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
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NEWS
SeaWorld announces poor Q1 results for 'transitional' 2016
POSTED 06 May 2016 . BY Tom Anstey
SeaWorld vowed to end orca breeding at its parks in March but CEO Joel Manby expects it to be years before it has a positive effect on the operator's finances
Despite making a number of positive moves to redefine itself as a park that cares and one that wants to create memorable experiences, SeaWorld suffered a disappointing first quarter, with CEO Joel Manby saying he expects the trend to continue through the year.

The positive for SeaWorld is the company did increase attendance in its park compared to the same period in 2015 by 2.6 percent - 3.3 million for the quarter. Despite this, the company posted a quarterly loss, of US$84m (€74m, £58m), an increase compared with the year earlier loss of US$43.6m (€38m, £30m).

Under much public pressure, SeaWorld said in March that it would stop breeding orcas and cease its theatrical shows, a dramatic shift but one that won’t be happening quickly as the company has 30 killer whales with a life expectancy as high as 50 years.

"Our March announcement to end all orca breeding and transition our theatrical shows toward more natural orca encounters, as well as our new partnership with the Humane Society of the United States, were transformational decisions that we expect should contribute to an improvement in performance over time, as consumers begin to recognise our continued commitment to providing them experiences that matter," said Joel Manby, who added that 2016 was a “transitional year” for the operator.

RELATED STORIES
Former SeaWorld CEO Jim Atchison leaves company in board shakeup


SeaWorld Entertainment has announced the departure of former CEO Jim Atchison from the company’s board, also appointing two veteran theme park industry executives – Ron Bension and Donald Robinson – to roles at the head of the company.
Analysts predict SeaWorld shares will jump more than 50 per cent in the next year


Stock analysts have predicted a positive year for SeaWorld, with shares in the company expected to rise as high in value as US$27 (€24, £19) in the next year.
SeaWorld ending orca captivity at its parks


SeaWorld has announced that it is ending orca captivity at its parks.
SeaWorld stems tide of attendance and revenue decline; firms up plans for Middle East expansion


Attendances and revenues at SeaWorld attractions during 2015 were reported as almost the same as the previous year, as CEO Joel Manby insists the marine park company is stabilising.
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
IAAPA EMEA

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

The company was initially established in 1997. Terry Monkton and Andrew Roberts are the key stakeh [more...]
Holovis

Holovis is a privately owned company established in 2004 by CEO Stuart Hetherington. [more...]
Polin Waterparks

Polin was founded in Istanbul in 1976. Polin has since grown into a leading company in the waterpa [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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