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NEWS
SeaWorld in buoyant mood despite inclement weather after strong Q4
POSTED 26 Feb 2020 . BY Andy Knaggs
SeaWorld plans to introduce a number of new rides and attractions in 2020 Credit: Shutterstock

We could not be more excited about our ride, attraction and event line up
– Serge Rivera
SeaWorld Entertainment says it has bounced back from a disappointing Q3 in 2019, with strong Q4 and overall year figures.

The third quarter of the year was affected by bad weather conditions, including Hurricane Dorian, which alone caused a loss of about 90,000 visits to the company's Florida park. The weather in Q4 was also unfavourable, but SeaWorld was still able to grow its attendance and total revenue per capita during the period, it said.

Attendance in Q4 was up 2.2 per cent on Q4 2018, reaching 4.7 million guests. Over the year, attendance increased by 0.2 per cent to 22.6 million guests.

Total revenue increased by US$18m (€16.6m, £13.9m) in Q4, and US$26m (€23.9m, £20.1m) over the year, reaching US$1.4bn (€1.29bn, £1.08bn). Although there was a net loss in Q4 of US$13.1m (€12.1m, £10.1m), for the entire year, SeaWorld achieved a net income increase of US$89.5m (€82.3m, £69.3m), which is almost double that of 2018.

The company's adjusted earnings for 2019 were US$456.9m (€420m, £354m), an increase of 13.9 per cent on 2018. It has set a target of achieving between US$475m (€437m, £368m) and US$500m (€460m, £387m) in Adjusted EBITDA in 2020.

Commenting on the firm's first financial results since he became CEO late last year, Serge Rivera said a strategic focus on new rides, attractions and events, improved marketing communications and pricing strategies, and cost efficiency initiatives, was behind the results.

He continued: "We continue to believe there are significant additional opportunities to further improve and enhance our execution and drive meaningful growth in revenue, net income and Adjusted EBITDA.

"With respect to 2020, we could not be more excited about our ride, attraction and event line up – it will be our strongest line up ever. We will be introducing one-of-a-kind, record-breaking roller coasters across our five major theme parks and thrilling, record-breaking new slides across our water parks this year."
RELATED STORIES
  SeaWorld to end dolphin 'surfing' shows


Following on from its 2017 decision to end its orca stunt shows in favour of an educational alternative, SeaWorld has announced this week that it will cease the practice of trainers riding on dolphins in its shows.
  Abu Dhabi SeaWorld to be ready by 2022, say developers


SeaWorld will be the next attraction to open on Abu Dhabi's Yas Island, according to the company that manages and develops the territory's growing collection of tourist venues.
  SeaWorld unveils Emperor – a penguin-inspired dive coaster – for 2020


Swiss manufacturer Bolliger & Mabillard is building a dramatic new dive coaster for SeaWorld San Diego, due to open in summer 2020.
  Rain-hit Q3 slows SeaWorld progress, but annual finances remain on track as new CEO is appointed


Unfavourable weather conditions, shifts in the calendar and an overspend on certain marketing activities, have all contributed to 'disappointing' Q3 financial results for SeaWorld.
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.
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Jobs    News   Products   Magazine   Subscribe
NEWS
SeaWorld in buoyant mood despite inclement weather after strong Q4
POSTED 26 Feb 2020 . BY Andy Knaggs
SeaWorld plans to introduce a number of new rides and attractions in 2020 Credit: Shutterstock
We could not be more excited about our ride, attraction and event line up
– Serge Rivera
SeaWorld Entertainment says it has bounced back from a disappointing Q3 in 2019, with strong Q4 and overall year figures.

The third quarter of the year was affected by bad weather conditions, including Hurricane Dorian, which alone caused a loss of about 90,000 visits to the company's Florida park. The weather in Q4 was also unfavourable, but SeaWorld was still able to grow its attendance and total revenue per capita during the period, it said.

Attendance in Q4 was up 2.2 per cent on Q4 2018, reaching 4.7 million guests. Over the year, attendance increased by 0.2 per cent to 22.6 million guests.

Total revenue increased by US$18m (€16.6m, £13.9m) in Q4, and US$26m (€23.9m, £20.1m) over the year, reaching US$1.4bn (€1.29bn, £1.08bn). Although there was a net loss in Q4 of US$13.1m (€12.1m, £10.1m), for the entire year, SeaWorld achieved a net income increase of US$89.5m (€82.3m, £69.3m), which is almost double that of 2018.

The company's adjusted earnings for 2019 were US$456.9m (€420m, £354m), an increase of 13.9 per cent on 2018. It has set a target of achieving between US$475m (€437m, £368m) and US$500m (€460m, £387m) in Adjusted EBITDA in 2020.

Commenting on the firm's first financial results since he became CEO late last year, Serge Rivera said a strategic focus on new rides, attractions and events, improved marketing communications and pricing strategies, and cost efficiency initiatives, was behind the results.

He continued: "We continue to believe there are significant additional opportunities to further improve and enhance our execution and drive meaningful growth in revenue, net income and Adjusted EBITDA.

"With respect to 2020, we could not be more excited about our ride, attraction and event line up – it will be our strongest line up ever. We will be introducing one-of-a-kind, record-breaking roller coasters across our five major theme parks and thrilling, record-breaking new slides across our water parks this year."
RELATED STORIES
SeaWorld to end dolphin 'surfing' shows


Following on from its 2017 decision to end its orca stunt shows in favour of an educational alternative, SeaWorld has announced this week that it will cease the practice of trainers riding on dolphins in its shows.
Abu Dhabi SeaWorld to be ready by 2022, say developers


SeaWorld will be the next attraction to open on Abu Dhabi's Yas Island, according to the company that manages and develops the territory's growing collection of tourist venues.
SeaWorld unveils Emperor – a penguin-inspired dive coaster – for 2020


Swiss manufacturer Bolliger & Mabillard is building a dramatic new dive coaster for SeaWorld San Diego, due to open in summer 2020.
Rain-hit Q3 slows SeaWorld progress, but annual finances remain on track as new CEO is appointed


Unfavourable weather conditions, shifts in the calendar and an overspend on certain marketing activities, have all contributed to 'disappointing' Q3 financial results for SeaWorld.
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
Clip 'n Climb

Clip ‘n Climb currently offers facility owners and investors more than 40 colourful and unique Cha [more...]
Painting With Light

By combining lighting, video, scenic and architectural elements, sound and special effects we tell s [more...]
iPlayCO

iPlayCo was established in 1999. [more...]
QubicaAMF UK

QubicaAMF is the largest and most innovative bowling equipment provider with 600 employees worldwi [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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LEISURE MEDIA MAGAZINES
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