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NEWS
'No plans' to open SeaWorld park in China, says operator
POSTED 27 Jul 2018 . BY Tom Anstey
A statement said that SeaWorld has no plans to bring a park to China
SeaWorld has quashed rumours of a planned expansion into China, with the operator saying it has "no plans" to open a SeaWorld park in the country.

There has been talk of SeaWorld moving into the Chinese market for some time, with Chinese investors Zhonghong Zhuoye Group (ZZG) taking up a majority stake in the operator in March last year.

The deal, which was worth CN¥3bn (US$448.5m, €386m, £342m), included an agreement that SeaWorld would exclusively advise Zhonghong Group on the design and development of future themed entertainment destinations, including theme parks, waterparks and FECs, in China, Taiwan, Hong Kong and Macau.

Speaking later that year, the now former SeaWorld CEO Joel Manby said that plans were still "moving forward in China", with a three-year study to "figure out what is our priority" in the region.

In February this year, SeaWorld’s interim executive chair, Yoshikazu Maruyama, said that ZZG sees "the huge potential of the opportunity with the SeaWorld brand in China in the future", though a new statement from SeaWorld seems to put a damper on that statement.

Speaking to Attractions Management, a representative for SeaWorld said that the operator was not planning to open a park in China any time in the near future.

"We have no plans to open a SeaWorld park in China and, accordingly, have not made any announcements to that effect," said the statement.

China's government has been trying to rein in risky lending and debt in its property sector, including new regulations for theme parks and a tightening of the reins for property giant Wanda.

Outside of its SeaWorld interest, in April, ZZG disclosed in a regulatory filing that it had defaulted on more than CN¥1.1bn (US$161m, €139m, £123m) in borrowings, adding to overdue debt that totalled CN¥2.27bn (US$333m, €286m, £254m). ZZG is currently trying to reach a deal with the Shenzhen-based Kaisa Group over the CN¥1.4bn (US$205m, €176m, £157m) sale of the shares in its Ruyi Island Project in Hainan, which would offer some relief to its debt burden. As part of increased scrutinies over such deals, Chinese authorities have asked for more information regarding the intended use of proceeds from the equity sale and the development status of the project, which is being built at a cost of CN¥12.9bn (US$1.89bn, €1.62bn, £1.44bn) and is due to open in 2019. ZZG had previously referenced 'SeaWorld Haikou' – an indoor family entertainment centre planned for the island – though with the planned sale and statement from the operator, that project appears to be dead in the water.
RELATED STORIES
  SeaWorld targets British tourists as operator plans to reclaim lost visitors


Following an impressive first quarter, which saw a surge in attendance to its attractions, SeaWorld Entertainment is casting its eyes overseas, particularly to the British market, in an attempt to draw back lost customers.
  Results improving for SeaWorld as operator records strong first quarter


SeaWorld could finally be about to turn a financial corner, after the operator reported a strong start to the year with its first quarter results.
  Sesame Place becomes first theme park to be named certified autism centre


The SeaWorld-owned Sesame Place theme park in Philadelphia, Pennsylvania, has become the first theme park in the world to be designated as a certified autism centre.
  Further senior departures from SeaWorld following Joel Manby's resignation


The floodgates have opened for SeaWorld, following the resignation of two more senior executives after the departure of former president and CEO Joel Manby last week.
MORE NEWS
Therme appoints UK CEO as £250m Therme Manchester gets planning approval
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White Crane Lake visitor centre in Yingtan, China glows like a shining lantern on a lake
A newly opened visitor centre at White Crane Lake in Yingtan, China, has been designed to look like a shining lantern within a forest.
New designs unveiled for Therme Canada Ontario Place and Therme Manchester
Therme Canada has released a newly evolved project design for its West Island of Ontario Place destination. The facility will deliver Therme Group's signature year-round family-friendly destination attraction concept alongside four more acres of public parkland.
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VIDEO GALLERY

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Last July 7th, Red Raion took part in the opening event of FICO Eataly World, the Italian theme park dedicated to food - the only one worldwide! Find out more...
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Jobs    News   Products   Magazine   Subscribe
NEWS
'No plans' to open SeaWorld park in China, says operator
POSTED 27 Jul 2018 . BY Tom Anstey
A statement said that SeaWorld has no plans to bring a park to China
SeaWorld has quashed rumours of a planned expansion into China, with the operator saying it has "no plans" to open a SeaWorld park in the country.

There has been talk of SeaWorld moving into the Chinese market for some time, with Chinese investors Zhonghong Zhuoye Group (ZZG) taking up a majority stake in the operator in March last year.

The deal, which was worth CN¥3bn (US$448.5m, €386m, £342m), included an agreement that SeaWorld would exclusively advise Zhonghong Group on the design and development of future themed entertainment destinations, including theme parks, waterparks and FECs, in China, Taiwan, Hong Kong and Macau.

Speaking later that year, the now former SeaWorld CEO Joel Manby said that plans were still "moving forward in China", with a three-year study to "figure out what is our priority" in the region.

In February this year, SeaWorld’s interim executive chair, Yoshikazu Maruyama, said that ZZG sees "the huge potential of the opportunity with the SeaWorld brand in China in the future", though a new statement from SeaWorld seems to put a damper on that statement.

Speaking to Attractions Management, a representative for SeaWorld said that the operator was not planning to open a park in China any time in the near future.

"We have no plans to open a SeaWorld park in China and, accordingly, have not made any announcements to that effect," said the statement.

China's government has been trying to rein in risky lending and debt in its property sector, including new regulations for theme parks and a tightening of the reins for property giant Wanda.

Outside of its SeaWorld interest, in April, ZZG disclosed in a regulatory filing that it had defaulted on more than CN¥1.1bn (US$161m, €139m, £123m) in borrowings, adding to overdue debt that totalled CN¥2.27bn (US$333m, €286m, £254m). ZZG is currently trying to reach a deal with the Shenzhen-based Kaisa Group over the CN¥1.4bn (US$205m, €176m, £157m) sale of the shares in its Ruyi Island Project in Hainan, which would offer some relief to its debt burden. As part of increased scrutinies over such deals, Chinese authorities have asked for more information regarding the intended use of proceeds from the equity sale and the development status of the project, which is being built at a cost of CN¥12.9bn (US$1.89bn, €1.62bn, £1.44bn) and is due to open in 2019. ZZG had previously referenced 'SeaWorld Haikou' – an indoor family entertainment centre planned for the island – though with the planned sale and statement from the operator, that project appears to be dead in the water.
RELATED STORIES
SeaWorld targets British tourists as operator plans to reclaim lost visitors


Following an impressive first quarter, which saw a surge in attendance to its attractions, SeaWorld Entertainment is casting its eyes overseas, particularly to the British market, in an attempt to draw back lost customers.
Results improving for SeaWorld as operator records strong first quarter


SeaWorld could finally be about to turn a financial corner, after the operator reported a strong start to the year with its first quarter results.
Sesame Place becomes first theme park to be named certified autism centre


The SeaWorld-owned Sesame Place theme park in Philadelphia, Pennsylvania, has become the first theme park in the world to be designated as a certified autism centre.
Further senior departures from SeaWorld following Joel Manby's resignation


The floodgates have opened for SeaWorld, following the resignation of two more senior executives after the departure of former president and CEO Joel Manby last week.
MORE NEWS
Therme appoints UK CEO as £250m Therme Manchester gets planning approval
Therme Group has received planning permission to build the UK’s first city-based wellbeing resort, Therme Manchester, after a four-year journey.
Pocket Planet attraction to bring 'immersive miniverse' on London's famous Oxford Street
White Crane Lake visitor centre in Yingtan, China glows like a shining lantern on a lake
A newly opened visitor centre at White Crane Lake in Yingtan, China, has been designed to look like a shining lantern within a forest.
New designs unveiled for Therme Canada Ontario Place and Therme Manchester
Therme Canada has released a newly evolved project design for its West Island of Ontario Place destination. The facility will deliver Therme Group's signature year-round family-friendly destination attraction concept alongside four more acres of public parkland.
Construction work to begin on Universal Resort Beijing's second phase 'by 2025'
Construction work on the second phase of the Universal Resort Beijing is set to begin by 2025.
Surf Park Summit programme and speaker line up confirmed
The speakers have been confirmed for this year's Surf Park Summit - the global event dedicated exclusively to the surf park industry.
+ More news   
 
COMPANY PROFILES
IDEATTACK

IDEATTACK is a full-service planning and design company with headquarters in Los Angeles. [more...]
Polin Waterparks

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

iPlayCo was established in 1999. [more...]
DJW

David & Lynn Willrich started the Company over thirty years ago, from the Audio Visual Department [more...]
+ More profiles  
VIDEO GALLERY

Red Raion - Testimonial Richard Needham - SimEx-Iwerks Entertainment
Last July 7th, Red Raion took part in the opening event of FICO Eataly World, the Italian theme park dedicated to food - the only one worldwide! Find out more...
More videos:
+ More videos  

CATALOGUE GALLERY
+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

05-05 Oct 2023

VAC 2023

QEII Conference Centre, London, United Kingdom
24-26 Oct 2023

ASEAN Pool & Spa Expo

IMPACT Exhibition Centre, Thailand
+ More diary  
 


ADVERTISE . CONTACT US

Leisure Media
Tel: +44 (0)1462 431385

©Cybertrek 2023

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