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Six Flags reports record results for ninth consecutive year
POSTED 19 Feb 2019 . BY Andy Knaggs
Our exceptional operating performance in Q4 demonstrates the strength of our pricing power
– Jim Reid-Anderson
Thirty-two million guests passed through the gates of a Six Flags theme park in 2018, helping to give the company record revenue figures for the ninth consecutive year.

The theme park operator reported an increase of US$105m (€92.79m, £81.27m) in revenue for the year, to reach US$1.5bn (€1.33, £1.16bn). It said the revenue growth was primarily driven by a 5 per cent increase in attendance, a 2 per cent increase in per capita spending, and a 7 per cent increase in sponsorship, international agreements and accommodations revenue. The per capita increase was assisted by changes in pricing for admissions and sales of memberships with premium tiers, said Six Flags.

Six Flags' expansion programme, which saw five parks in the domestic market acquired in 2018, also continued strongly. Adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) for the year was US$554m (€490m, £429m) – up 7 per cent on 2017.

In Q4 2018, revenue grew by US$13m (€11.49m, £10.06m) to US$270m (€239m, £209m), a 5 per cent improvement on the same quarter 2017, while the guest spending per capita for the quarter increased by US$2.35 (€2.08, £1.82), most of which was realised through increased admissions per capita (US$1.74) rather than in-park spending per capita (US$0.61).

There was an unfavourable revenue adjustment of US$15m (€13.26m, £11.61m) in Q4 2018, as a result of delays in the expected opening dates of some of Six Flags’ parks in China, caused, it said, by “a challenging macroeconomic environment”.

Speaking of his pride upon recording a ninth consecutive year of record results, chair, president and chief executive officer Jim Reid-Anderson commented: "Our exceptional operating performance in the fourth quarter demonstrates the strength of our pricing power, membership strategy, and in-park spending programmes, all of which, together with our domestic and international park expansion initiatives, will provide a strong platform for growth for many years to come."
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Jobs   News   Products   Magazine
NEWS
Six Flags reports record results for ninth consecutive year
POSTED 19 Feb 2019 . BY Andy Knaggs
Our exceptional operating performance in Q4 demonstrates the strength of our pricing power
– Jim Reid-Anderson
Thirty-two million guests passed through the gates of a Six Flags theme park in 2018, helping to give the company record revenue figures for the ninth consecutive year.

The theme park operator reported an increase of US$105m (€92.79m, £81.27m) in revenue for the year, to reach US$1.5bn (€1.33, £1.16bn). It said the revenue growth was primarily driven by a 5 per cent increase in attendance, a 2 per cent increase in per capita spending, and a 7 per cent increase in sponsorship, international agreements and accommodations revenue. The per capita increase was assisted by changes in pricing for admissions and sales of memberships with premium tiers, said Six Flags.

Six Flags' expansion programme, which saw five parks in the domestic market acquired in 2018, also continued strongly. Adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) for the year was US$554m (€490m, £429m) – up 7 per cent on 2017.

In Q4 2018, revenue grew by US$13m (€11.49m, £10.06m) to US$270m (€239m, £209m), a 5 per cent improvement on the same quarter 2017, while the guest spending per capita for the quarter increased by US$2.35 (€2.08, £1.82), most of which was realised through increased admissions per capita (US$1.74) rather than in-park spending per capita (US$0.61).

There was an unfavourable revenue adjustment of US$15m (€13.26m, £11.61m) in Q4 2018, as a result of delays in the expected opening dates of some of Six Flags’ parks in China, caused, it said, by “a challenging macroeconomic environment”.

Speaking of his pride upon recording a ninth consecutive year of record results, chair, president and chief executive officer Jim Reid-Anderson commented: "Our exceptional operating performance in the fourth quarter demonstrates the strength of our pricing power, membership strategy, and in-park spending programmes, all of which, together with our domestic and international park expansion initiatives, will provide a strong platform for growth for many years to come."
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David Walliams, the comedian, actor and best-selling author, is partnering with the UK's Alton Towers Resort to bring characters from his children's books to life at the park in a new attraction: The World of David Walliams.
UK government invests £250m into cultural and creative infrastructure projects
Funding support for York's National Railway Museum, Coventry's 2021 UK City of Culture programme and infrastructure and maintenance work at local and regional museums across the country are all included in the UK Government's proposed new Culture Investment Fund.
Blackpool Museum to evoke lively spirit of UK's seaside entertainment heritage
A £13m (US$16.8m, €15.1m) project to create a museum that celebrates Blackpool's role in the development of British popular culture is moving forward, following the award of a £4m (US$5.2m, €4.7m) grant from the National Lottery Heritage Fund.
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Rebranded EAG International Expo set to become leading trade show for the international entertainment and attractions industry
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Simworx - The power to move you…
Simworx is acknowledged as one of the world’s leaders in the supply of 4D Effects Cinemas and Motion Simulation Attractions. Find out more...
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CATALOGUE GALLERY
 

+ More catalogues  
DIRECTORY
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DIARY

29-31 Oct 2019

Mediterranean Resort & Hotel Real Estate Forum (MR&H)

Hilton Athens, Athens, Greece
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+ More diary  
 


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ABOUT LEISURE MEDIA
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