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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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Jobs    News   Products   Magazine
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.
MORE NEWS
Nohlab's 'Everything' installation among Noor Riyadh festival highlights
An immersive audiovisual experience that "observes everything as it is" was a among the highlights of this year's Noor Riyadh festival in Saudi Arabia.
Interactive TV gameshow experience to open in London in 2023
A new interactive visitor attraction that promises guests the opportunity to experience the thrill of being a TV show contestant is set to open in London in early 2023.
Alton Towers' iconic Nemesis coaster closes for major revamp
The famous Nemesis ride at UK theme park, Alton Towers, has closed for a major revamp.
Bob Iger's return to Disney sparks major restructuring focused on creativity and storytelling
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COMPANY PROFILES
Alterface

Alterface’s Creative Division team is seasoned in concept and ride development, as well as storyte [more...]
Polin Waterparks

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

Our services include: Dark ride design & build; Redevelopment of existing attractions; High-quality [more...]
Mather & Co

We lead the world in incredible museum, exhibition, and attraction design. We work across the herita [more...]
+ More profiles  
FEATURED SUPPLIER

Behind the Scenes of IAAPA Expo 2022 with Michael Shelton
There is no place like IAAPA Expo, it’s the place to take in the most exciting sights, smells, tastes, and sensations that will take your career and attraction to new heights! The excitement, energy and opportunity are palpable. [more...]
VIDEO GALLERY

Red Raion TV - Testimonial: Leolandia
When you work in the Attractions Industry, there’s nothing better than seeing that dreamy look in the eyes of the people who have just tried your attraction. Find out more...
More videos:
Keynote | Moby Dick - Friends to the rescue! – Red Raion
Red Raion Showreel 2021 – Red Raion
ProSlide's all-in-one waterplay entertainment center – Proslide Tech Inc
+ More videos  

CATALOGUE GALLERY
+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

01-07 Dec 2022

World Leisure Congress 2022

tbc, Dunedin, New Zealand
05-07 Dec 2022

East Cape Futures

Hotel Palmas de Cortez, Los Barriles, Mexico
+ More diary  
 


ADVERTISE . CONTACT US

Leisure Media
Tel: +44 (0)1462 431385

©Cybertrek 2022

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