Six Flags’ upswing shows no signs of abating, strengthened by global franchise deals
by Alice Davis | 27 Jul 2016
Pricing and multi-visit pass initiatives are helping boost revenues at Six Flags / Six Flags
Six Flags has reported a doubling of income from its global franchising push as one of the main drivers behind strong Q2 figures.
For the first six months of the year, the theme park company reported year-on-year growth of US$51m (€46m, £39m) or 11 per cent to US$522m (€474m, £398m). The strong performance is due to a 7 per cent increase in visitor attendance, a 3 per cent increase in visitor spend and a 104 per cent increase in international licensing revenue.
The numbers come on the back of a bullish first quarter, with Six Flags filing earnings of US$115m (€104.6m, £87.7m) in the traditionally tough US winter period.
“Our 2016 season is off to an excellent start,” said Six Flags president and CEO John Duffey. “Our innovative new attractions have received very positive reviews along with the first-ever integration of virtual reality technology into our rollercoasters. Our pricing and multi-visit pass initiatives are working well and we are highly encouraged by the positive trends in our business including the 11 per cent increase in our Active Pass Base.”
He added that bigger revenues from ticket sales and increasing income from a bold international expansion schedule – with plans for licensed parks in China, Vietnam and Dubai within the next decade – means the company remains on track to reach its goal of US$600m in pre-tax earnings by 2017.
For Q2, Six Flags revenue rose by 5 per cent year on year, the equivalent of US$21m (€19.1m, £16m), to US$407m (€370.3m, £310.4m). Net income decreased US$5m (€4.5m, £3.8m) – seven per cent – due to a one-off tax benefit that happened in Q2 2015.
For more on the future of Six Flags, see our interview with John Duffey in the current issue of Attractions Management or click here.
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FEATURE: Interview – John Duffey
Six Flags has reported a doubling of income from its global franchising push as one of the main drivers behind strong Q2 figures. For the first six months of the year, the theme park company reported year-on-year growth of US$51m (€46m, £39m) or 11 per cent to US$522m (€474m, £398m). The strong performance is due to a 7 per cent increase in visitor attendance, a 3 per cent increase in
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