Huge potential in SeaWorld despite rough year, says Zhonghong Zhuoye Group's Maruyama | attractionsmanagement.com news
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Huge potential in SeaWorld despite rough year, says Zhonghong Zhuoye Group's Maruyama
POSTED 28 Feb 2018 . BY Tom Anstey
SeaWorld's orcas have caused great controversy for the company, which has suffered financially Credit: TNS/SIPA USA/PA Images
SeaWorld’s newly appointed interim executive chair Yoshikazu Maruyama has said the Zhonghong Zhuoye Group's (ZZG) sees “huge potential” in the company’s leadership and operations, despite recent turmoil in and outside of the board room.

Maruyama, who joined SeaWorld’s board in September, was named executive chair this week following Joel Manby’s sudden departure from the company after nearly three years in the role.

Following Manby’s resignation, SeaWorld enacted a transition plan, which sees John Reilly succeeding Manby on a temporary basis, with Maruyama named interim executive chair until a new CEO is appointed.

The China-based ZZG is a majority shareholder in SeaWorld, having purchased a 21 per cent stake in the company last year. As a representative of ZZG, Maruyama also acts as president of the group’s US operation.

“I believe that Zhonghong is committed to its investment,” said Maruyama, speaking during an earnings call. “They see the huge potential both in the leadership of the company as well as the underlying performance and they see the huge potential of the opportunity with the SeaWorld brand in China in the future.”

Despite a poor year for SeaWorld overall, Maruyama reflected on a positive final quarter as a sign that things are slowly improving for the operator. Financial results for Q4 exceeded expectations, which was attributed to stronger-than-anticipated revenue performance from SeaWorld’s Christmas events. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) beat forecasts by more than US$5m (€4.1m, £3.6m) for the year, but the US$300.8m (€246.3m, £218.1m) total was still down US$32m (€26.2m, £23.2m) on the previous year’s results.

“We are so confident in the underlying performance of the business for the last quarter and on the trends that we're seeing going into this year,” said Maruyama.

“As a board member I want to make sure that the company's leadership continues to transition in a very successful manner and we are delighted that Joel, being the inspirational leader that he is, has been working collectively with the board to ensure that there is a very smooth and successful transition of leadership. We hope to make this very smooth transition happen in a very, very positive business environment.”
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NEWS
Huge potential in SeaWorld despite rough year, says Zhonghong Zhuoye Group's Maruyama
POSTED 28 Feb 2018 . BY Tom Anstey
SeaWorld's orcas have caused great controversy for the company, which has suffered financially Credit: TNS/SIPA USA/PA Images
SeaWorld’s newly appointed interim executive chair Yoshikazu Maruyama has said the Zhonghong Zhuoye Group's (ZZG) sees “huge potential” in the company’s leadership and operations, despite recent turmoil in and outside of the board room.

Maruyama, who joined SeaWorld’s board in September, was named executive chair this week following Joel Manby’s sudden departure from the company after nearly three years in the role.

Following Manby’s resignation, SeaWorld enacted a transition plan, which sees John Reilly succeeding Manby on a temporary basis, with Maruyama named interim executive chair until a new CEO is appointed.

The China-based ZZG is a majority shareholder in SeaWorld, having purchased a 21 per cent stake in the company last year. As a representative of ZZG, Maruyama also acts as president of the group’s US operation.

“I believe that Zhonghong is committed to its investment,” said Maruyama, speaking during an earnings call. “They see the huge potential both in the leadership of the company as well as the underlying performance and they see the huge potential of the opportunity with the SeaWorld brand in China in the future.”

Despite a poor year for SeaWorld overall, Maruyama reflected on a positive final quarter as a sign that things are slowly improving for the operator. Financial results for Q4 exceeded expectations, which was attributed to stronger-than-anticipated revenue performance from SeaWorld’s Christmas events. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) beat forecasts by more than US$5m (€4.1m, £3.6m) for the year, but the US$300.8m (€246.3m, £218.1m) total was still down US$32m (€26.2m, £23.2m) on the previous year’s results.

“We are so confident in the underlying performance of the business for the last quarter and on the trends that we're seeing going into this year,” said Maruyama.

“As a board member I want to make sure that the company's leadership continues to transition in a very successful manner and we are delighted that Joel, being the inspirational leader that he is, has been working collectively with the board to ensure that there is a very smooth and successful transition of leadership. We hope to make this very smooth transition happen in a very, very positive business environment.”
RELATED STORIES
Joel Manby resigns as SeaWorld CEO as operator launches search for successor


SeaWorld CEO Joel Manby has resigned from his position as the company’s CEO, with the troubled operator launching a search to find a permanent successor following the move.
SeaWorld's Brian Morrow reveals design theory behind 'Experiences That Matter'


SeaWorld creative designer Brian Morrow has lifted the lid on “Experiences That Matter”, detailing how the company’s new message affects design.
SeaWorld tightens financial leash following poor third quarter


SeaWorld president and CEO Joel Manby has reiterated that financial discipline remains a top priority for the operator, after another tough quarter saw revenues and visitor numbers drop.
Parques Reunidos linked to SeaWorld sale


Parques Reunidos could be about to make a big splash in the attractions industry after fresh reports linked the Spanish operator with a potential takeover of SeaWorld.
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Scruffy Dog and Simtec launch Fisher-Price themed trackless ride
Scruffy Dog Creative Group and Simtec Systems have partnered to launch a new immersive trackless dark ride featuring the popular Mattel IP, Fisher-Price.
Dohmen and Bertens join forces to launch Tourist Development and Attraction Consultants
Former Efteling COO, Coen Bertens, and former BRC Imagination Arts exec, Bart Dohmen, have partnered to set up a consultancy for the tourism and visitor attraction sectors.
Puy du Fou to create first US attraction
Puy du Fou is set to enter the US attractions market with its iconic, immersive themed visitor experience, after securing a partnership with the Eastern Band of the Cherokee Indian (ECBI).
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Founded in 1966, the Antonio Zamperla SPA is privately owned by Mr Alberto Zamperla. Located in Vi [more...]
IAAPA EMEA

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

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Another year has passed, and we’re definitely happy with what we have accomplished in 2021! Find out more...
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ProSlide's all-in-one waterplay entertainment center – Proslide Tech Inc
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+ More videos  

CATALOGUE GALLERY
+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

07 Jun 2022

World Sauna Forum 2022

Lapland Hotels Arena, Tampere, Finland
07-10 Jun 2022

IAAPA Expo Asia 2022

Hong Kong Convention & Exhibition Centre, Hong Kong, Hong Kong SAR
+ More diary  
 


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