Tough year for SeaWorld as operator reports lacklustre figures
SeaWorld has submitted its end of year results, with revenues and attendance both down on 2015 as the company continues to try and transform its image, putting “fun but meaningful” at the forefront of its PR campaign.
Total revenues for 2016 were US$1.34bn (€1.26bn, £1.07bn), slightly lower than the US$1.37bn (€1.29bn, £1.1bn) recorded in 2015. The company also recorded a net loss of US$12.5m (€11.8m, £10m) in 2016, compared with a net profit of US$49.1m (€46.3m, £39.5m) the year before.
Heavy decline at SeaWorld’s Florida and Northeast park locations saw an overall decline in attendance by 471,000 visitors – a 2.1 per cent overall decrease across the company’s parks year-on-year.
For the final quarter of the year, SeaWorld was hurt by higher expenses and fewer people visiting its parks, with a dip of 30,000 visitors and revenue from admissions declining by 3 per cent.
The company blamed attendance on Hurricane Matthew, which temporarily closed its Florida attractions in October, also blaming “softness” in the Latin America market, which traditionally is a big draw for the operator.
The park also endured the death of infamous orca Tilikum, who died in January and was featured in the 2013 documentary Blackfish, which has been at the root of the company’s ongoing struggles.
“We ended the year exceeding our guidance and generating improved revenue and attendance in California and Texas, in particular, two locations which presented us challenges in 2015,” said SeaWorld CEO Joel Manby.
“Our focus on driving revenue growth by providing guests with experiences that matter is gaining traction. In the fourth quarter, we implemented the first phase of our cost optimisation program which had a positive impact on results, and we continue to find new ways to be more efficient."
Manby added: “Building on the platform for growth we established in 2016, we are energised going into 2017 as we launch some of the most innovative new rides and attractions in our history, while deploying our capital more efficiently. We remain focused on financial discipline to improve our financial strength and flexibility over the long term.
"We are committed to strengthening our foundation, and our board and management team are moving fast to implement our initiatives to increase value for our shareholders.”
SeaWorld theme park markets Q4 SeaWorld earnings Joel Manby visitor attractions orcas aquariumsSeaWorld's Doug Stagner named new IAAPA COO and EVP
SeaWorld’s Tilikum dies as controversial orca shows laid to rest
Former Disney exec appointed as SeaWorld’s chief marketer
SeaWorld hosting final California orca show on 8 January
SeaWorld announces plans for orca-free theme park in Abu Dhabi
Europe's premier Evian Spa unveiled at Hôtel Royal in France
Clinique La Prairie unveils health resort in China after two-year project
GoCo Health Innovation City in Sweden plans to lead the world in delivering wellness and new science
Four Seasons announces luxury wellness resort and residences at Amaala
Aman sister brand Janu debuts in Tokyo with four-floor urban wellness retreat
€38m geothermal spa and leisure centre to revitalise Croatian city of Bjelovar
Two Santani eco-friendly wellness resorts coming to Oman, partnered with Omran Group
Kerzner shows confidence in its Siro wellness hotel concept, revealing plans to open 100
Ritz-Carlton, Portland unveils skyline spa inspired by unfolding petals of a rose
Rogers Stirk Harbour & Partners are just one of the names behind The Emory hotel London and Surrenne private members club
Peninsula Hot Springs unveils AUS$11.7m sister site in Australian outback
IWBI creates WELL for residential programme to inspire healthy living environments
Conrad Orlando unveils water-inspired spa oasis amid billion-dollar Evermore Resort complex
Studio A+ realises striking urban hot springs retreat in China's Shanxi Province
Populous reveals plans for major e-sports arena in Saudi Arabia
Wake The Tiger launches new 1,000sq m expansion
Othership CEO envisions its urban bathhouses in every city in North America
Merlin teams up with Hasbro and Lego to create Peppa Pig experiences
SHA Wellness unveils highly-anticipated Mexico outpost
One&Only One Za’abeel opens in Dubai featuring striking design by Nikken Sekkei
Luxury spa hotel, Calcot Manor, creates new Grain Store health club
'World's largest' indoor ski centre by 10 Design slated to open in 2025
Murrayshall Country Estate awarded planning permission for multi-million-pound spa and leisure centre
Aman's Janu hotel by Pelli Clarke & Partners will have 4,000sq m of wellness space
Therme Group confirms Incheon Golden Harbor location for South Korean wellbeing resort
Universal Studios eyes the UK for first European resort
King of Bhutan unveils masterplan for Mindfulness City, designed by BIG, Arup and Cistri
Rural locations are the next frontier for expansion for the health club sector
Tonik Associates designs new suburban model for high-end Third Space health and wellness club
Aman sister brand Janu launching in Tokyo in 2024 with design by Denniston's Jean-Michel Gathy
Creating the 9/11 Memorial Museum in New York involved meticulous planning. Its director Alice Greenwald tells us more