Huge potential in SeaWorld despite rough year, says Zhonghong Zhuoye Group's Maruyama | attractionsmanagement.com news
POST YOUR JOB ONLINE
Free ezine/digital edition sign up
Jobs   News   Features   Video    Products   Profiles   Magazine   Handbook   Advertise  
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
Disney's first Mickey Mouse ride gets 2020 opening date
Disney has announced an opening date for Mickey & Minnie's Runaway Railway at its Hollywood Studios park, with the new attraction set to debut on 4 March 2020.
Astronaut Tim Peake calls for more investment in science
British astronaut Tim Peake has urged the UK government to invest more in science, education and research and development.
Government support signals green light for South Korean theme park plan
The long-proposed US$3.8bn (€3.4bn, £2.9bn) theme park at Hwaseong, 45km (30mi) from South Korea's capital Seoul, looks set to definitely go ahead, after the country's finance minister pledged the government's support.
Hong Kong protests force closure of Museum of Art shortly after grand reopening
Having only reopened on Saturday 30 November after a closure of more than four years, the Hong Kong Museum of Art (HKMoA) quickly found itself at the centre of ongoing political protests in the territory at the weekend, forcing it to close almost immediately.
+ More news   
LATEST JOBS
Front Office Clerk
Gardaland Resort
Salary: Competitive
Job location: Castelnuovo del Garda, VR, Italy
Education Specialist
Sea Life
Salary: Competitive
Job location: East Rutherford, NJ, USA
Attractions Assistant Manager
Legoland
Salary: Competitive
Job location: Goshen, NY, USA
Admissions Assistant Manager
Legoland
Salary: Competitive
Job location: Goshen, NY, USA
HR Manager
Madame Tussauds
Salary: Competitive
Job location: Tokyo, Japan
Operations Manager
Madame Tussauds
Salary: Competitive
Job location: Hollywood, Los Angeles, CA, USA
+ More jobs  

COMPANY PROFILES
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...]
Gantner Ticketing

GANTNER Ticketing was established in 1990. [more...]
Vekoma Rides Manufacturing B.V.

Vekoma Rides has a large variety of coasters and attractions. [more...]
+ More profiles  
FEATURED SUPPLIER

ProSlide appoints Chantal Theoret as director of global marketing
ProSlide Technology has appointed Chantal Theoret as its new director of global marketing. [more...]
VIDEO GALLERY

Red Raion - Trailer Pinocchio - A Modern Tale VR
Red Raion is the CGI studio specialized in media based attraction. Find out more...
More videos:
Red Raion: Meet the Team - Introduction – Red Raion
Introducing AnimaChat! – Animalive
Trailer Peter Pan - Saving Tinkerbell VR – Red Raion
+ More videos  

CATALOGUE GALLERY
 

+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

14 Jan 2020

BALPPA Annual General Meeting

ExCel, London, United Kingdom
14-16 Jan 2020

EAG International

ExCel London Exhibition Centre, London,
+ More diary  
LATEST ISSUES
+ View Magazine Archive

Attractions Management

2019 issue 4


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

Attractions Management

2019 issue 3


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

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 News

27 Nov 2019 issue 144


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
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
Disney's first Mickey Mouse ride gets 2020 opening date
Disney has announced an opening date for Mickey & Minnie's Runaway Railway at its Hollywood Studios park, with the new attraction set to debut on 4 March 2020.
Astronaut Tim Peake calls for more investment in science
British astronaut Tim Peake has urged the UK government to invest more in science, education and research and development.
Government support signals green light for South Korean theme park plan
The long-proposed US$3.8bn (€3.4bn, £2.9bn) theme park at Hwaseong, 45km (30mi) from South Korea's capital Seoul, looks set to definitely go ahead, after the country's finance minister pledged the government's support.
Hong Kong protests force closure of Museum of Art shortly after grand reopening
Having only reopened on Saturday 30 November after a closure of more than four years, the Hong Kong Museum of Art (HKMoA) quickly found itself at the centre of ongoing political protests in the territory at the weekend, forcing it to close almost immediately.
Budapest mayor hits breaks on €250m New National Gallery due to environmental concerns
Gergely Karácsony, mayor of Budapest, has brought plans for The New National Gallery in Budapest's City Park to a halt, claiming that the project will have a detrimental impact on the environment.
Cineplex fuses films and live entertainment with new Junxion concept
Canadian entertainment and media company Cineplex has announced plans to create new destinations that fuse movies, live entertainment and dining in one place.
+ More news   
 
COMPANY PROFILES
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...]
Gantner Ticketing

GANTNER Ticketing was established in 1990. [more...]
Vekoma Rides Manufacturing B.V.

Vekoma Rides has a large variety of coasters and attractions. [more...]
+ More profiles  
FEATURED SUPPLIER

ProSlide appoints Chantal Theoret as director of global marketing
ProSlide Technology has appointed Chantal Theoret as its new director of global marketing. [more...]
VIDEO GALLERY

Red Raion - Trailer Pinocchio - A Modern Tale VR
Red Raion is the CGI studio specialized in media based attraction. Find out more...
More videos:
Red Raion: Meet the Team - Introduction – Red Raion
Introducing AnimaChat! – Animalive
Trailer Peter Pan - Saving Tinkerbell VR – Red Raion
+ More videos  

CATALOGUE GALLERY
 

+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

14 Jan 2020

BALPPA Annual General Meeting

ExCel, London, United Kingdom
14-16 Jan 2020

EAG International

ExCel London Exhibition Centre, London,
+ 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