Les Mills International
Les Mills International
Les Mills International

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.

Following a series of poor financial results after several years of decline stemming from the Blackfish controversy, SeaWorld's cost-cutting initiatives and new focus on experiences that matter seems to be taking effect.

For the first three months of the year, the operator reported revenue increases of US$30.8m (€25.9m, £22.8m) compared to the same period in 2017, totalling US$217.2m (€182.9m, £160.6m) for the quarter.

Attendance has also trended positively in Q1, up 14.9 per cent to 3.2 million visitors – an increase of 400,000 guests.

With only five of its 12 parks open for the first quarter, the company incurred an expected overall loss for the quarter of US$62.8m (€52.8m, £46.4m) – US$21.5m (€18.1m, £15.9m) of which was in relation to pre-tax expenses associated with separation-related costs and a legal settlement accrual in the first quarter of 2018.

Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) significantly improved year-on-year, with a loss for the quieter quarter of US$100,000 (€84,000, £74,000) – an improvement of US$30.2m (€25.4m, £22.3m) over last year's Q1.

Despite the positive results, SeaWorld has had a tumultuous start to the year at board level, with several senior departures, including former CEO Joel Manby. Manby, who was named CEO in March 2015, had taken numerous steps to turn around the company’s fortunes, implementing many of the measures now starting to take noticeable effect.

Under its transition plan, chief parks operations officer John Reilly has succeeded Manby on a temporary basis.

"Despite this strong start to the year, we know we have significant opportunity for further improvement," said Reilly.

"In addition to positive attendance trends, we also saw a more than 10 per cent increase in season pass sales revenue and an increase in total revenue per capita driven by a 6.4 per cent increase in in-park per capita spending.

"We are driving additional attendance, revenue and adjusted EBITDA through our enhanced communications activities, the anticipation and receptivity of our new rides, attractions and events, more focused operational execution, improved pricing strategies and a relentless focus on efficiencies."

SeaWorld has a number of major openings scheduled for 2018, including its Premier Rides-designed Electric Eel rollercoaster in San Diego and the Intamin-manufactured Infinity Falls raft ride in Orlando. The operator also recently released renderings for its new Sesame Street Land, which opens in Orlando in Q2 2019.

SeaWorld  Blackfish  Joel Manby  John Reilly  Premier Rides  Electric Eel  Intamin  Infinity Falls  Orlando  Sesame Street  
Related stories
03 Apr 2018

Sesame Place becomes first theme park to be named certified autism centre

05 Mar 2018

Further senior departures from SeaWorld following Joel Manby's resignation

28 Feb 2018

Huge potential in SeaWorld despite rough year, says Zhonghong Zhuoye Group's Maruyama

27 Feb 2018

Joel Manby resigns as SeaWorld CEO as operator launches search for successor

21 Nov 2017

SeaWorld's Brian Morrow reveals design theory behind 'Experiences That Matter'

07 Nov 2017

SeaWorld tightens financial leash following poor third 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. Following a series of poor financial results after several years of decline stemming from the Blackfish controversy, SeaWorld's cost-cutting initiatives and new focus on experiences that matter seems to be taking effect. For the first three months of the year, the operator reported revenue increases
SeaWorld has, in recent times, placed an emphasis on creating 'experiences that matter' / SeaWorld
More news
News stories: 1 - 30 of 7658     
News stories: 1 - 30 of 7658     
company profile
Company profile: Alliance Leisure Services Ltd
The company’s core business is the provision of facility development and support for local authorities, educational establishments and leisure trusts that want to improve or expand the leisure products and services they offer.
Try cladmag for free!
Sign up with CLAD to receive our regular ezine, instant news alerts, free digital subscriptions to CLADweek, CLADmag and CLADbook and to request a free sample of the next issue of CLADmag.
sign up
Collaboration is at the heart of NBW’s working practices
Thomas Woltz
"I am very proud of stewarding the largest public space to be built in Manhattan in a century"

The Wall Street Journal’s Design Innovator of the Year on designing the gardens at Hudson Yards and looking to the Native Americans for ideas on how to create a resilient future

Francis graduated as a landscape architect in Belgium. He returned to Lebanon in 1993
"I believe gardens are where the soul rests"

With a focus on desert landscapes and collaborations with Zaha Hadid and OMA, the principal of Francis Landscapes has a deep belief in the power of nature

Montreal’s Esplanade Tranquille will feature 36 geothermal wells
"Funding woes and murky timelines are common problems. It can be easier to make a difference one small project at a time"

From parks designed to mitigate the effects of flooding to warming huts for one of the world’s coldest cities, these projects have been designed for increasingly extreme climates

Catalogue Gallery
Click on a catalogue to view it online
To advertise in our catalogue gallery: call +44(0)1462 431385
Marianne Shillingford
"The technology involved in paint is extraordinary"

Used cleverly, colour has the power to influence how people use the spaces they inhabit, says the creative director of Dulux

Interior designers Knight Associates clad the cycle studio in mirrored stainless steel
"We’ve designed the space so that the atmosphere is intimate"

Les Mills’ new studio spaces at its iconic Auckland City Gym showcase a trend away from masculine ‘grunty’ gyms to something altogether different

Polizzi worked closely with architect and designer Tommaso Ziffer on Hotel de la Ville in Rome
Olga Polizzi is director of design for Rocco Forte Hotels and also owns two of her own hotels
"On Via Sistina, everything breathes history. At the same time I wanted to reflect the modern hunger for the fantastical - Tommaso Ziffer"

Following the highly anticipated launch of Rome’s Hotel de la Ville, Rocco Forte’s director of design reflects on a fascinating project

"Further hotels have been confirmed for Los Angeles, Santa Clara, CA, Seattle, Chicago and Houston"

Rockwell Group and Joyce Wang on the inspirations behind the guest rooms, public spaces, spa and gym at Equinox Hotel Hudson Yards

A bright red exterior lift takes visitors up to the hotel’s 10th floor restaurant
"We tried to take over in a friendly way"

The Standard’s first London hotel is bold, fun and full of surprising touches

Reclaimed oak floorboards have been used throughout
"Sam was such a champion for the team, and my goal is simply to carry that same torch"

As Blackberry Mountain resort opens in Tennessee, we find out why the project is a deeply personal one for owner Mary Celeste Beall

cladkit product news
Diamond balloon concept merges tourist attraction with advertising billboard
Magali Robathan
A group of Dutch engineers have presented a new attractions concept that combines a flying observation cabin with LED digital ...
Christie laser projectors power new Five Senses Bubble dome theatre
The dome aims to integrate technology with arts and culture
Magali Robathan
Christie® GS Series 1DLP® laser projectors are delivering vivid and lifelike visuals in a new dome theatre located in Xiong’an ...
Alberto Apostoli and Newform collaborate to launch the A.Zeta showerhead
The showerhead offers two modes; rainfall or waterfall
Megan Whitby
Italian architect Alberto Apostoli has renewed his partnership with Newform – an Italian wellness company – and designed A.Zeta. A.Zeta ...
cladkit product news
LianTronics’ glasses-free 3D Star Trek LED screen attracts attention
Magali Robathan
LianTronics’ giant curved LED wall with stunning glasses-less 3D spaceship display effect has attracted many on the street of Chengdu, ...
Eden project uses drones to spell out climate change warning
Magali Robathan
Almost 300 drones were used to signal an environmental message above the Eden Project’s biomes, during the UN Climate Change ...
Cosm unveils Experience Centre with ‘one of a kind’ LED dome
The new Experience Centre houses a 20m LED dome
Magali Robathan
Cosm, a global technology company that builds end-to-end solutions for immersive experiences, has unveiled its Experience Centre which houses a ...
cladkit product news
Fabio Alemanno Design uses elegant semi-precious stones to create memorable spa experiences
Alemanno believes the stones are well-placed in the spa environment thanks to their capacity to positively support physical and mental health
Megan Whitby
Fabio Alemanno Design has expanded its collection with semi-precious stones to enhance spas, wellness facilities, hotels and private residences. The ...
Móz Designs columns anchor the world’s largest indoor aquarium
The design of the columns was inspired by the sea
Magali Robathan
After a two-year renovation, Oakland-based metal experts Móz Designs have unveiled their inclusion in Georgia Aquarium’s new shark gallery. Located ...
Jaffe Holden helps bring Academy Museum of Motion Pictures alive
Jaffe Holden provided architectural acoustics for the Academy Museum
Magali Robathan
Acoustical consulting firm Jaffe Holden provided architectural acoustics and audio/video design services for the recently opened Academy Museum of Motion ...
Sign up with CLAD for regular news updates
Les Mills International
Les Mills International