About Subscribe Submit news Get in touch
 
Home Opinion In depth Video LIVE news Interviews Company profiles Events diary Jobs
Encouraging Q1 for Six Flags despite COVID losses | Planet Attractions
     

news

Encouraging Q1 for Six Flags despite COVID losses

Capped attendance was at 95% capacity but Covid continues to have a significant impact on Six Flags’ bottom line




Six Flags continues to be affected by the pandemic but signs of recovery are showing   Credit: Six Flags

Despite closures and restrictions related to the pandemic, Six Flags has reported revenues of US$82m (€67.9, £59m), with 1.3 million visitors coming to the operator’s parks during the first quarter of 2021.

An anticipated decline by the company due to the current global challenges leading to fewer operating days and capacity restrictions, total first quarter attendance declined by 15% compared to 2020 and 38% compared to 2019.

The decline represented a drop of 238,000 visitors compared to 2020 and a decline of 822,000 visitors compared to 2019. Things looked brighter for total capacity however, with attendance at open parks at 95%.

Six Flags did reveal that attendance has slowly improved since the majority of its parks reopened with limited operations in June 2020. The company is now in a position where all of its parks except for Montreal have either reopened or have a set reopening date.

Total revenue for Six Flags represented a decline of US$20m (€16.6m, £14.4m) compared to 2020’s Q1 figures. The revenue drop compared to 2019 was larger, with a decline of US$46m (€38.1m, £33.1m). Net losses for the quarter were US$96m (€79.5m, £69.2m), an increase in losses of US$11m (€9.1m, £7.9m) compared to 2020 and US$27m (€22.3m, £19.5m) for 2019.

“I am extremely proud of the way our team members have maintained the readiness of our parks so that we can quickly ramp up to entertain our guests and capture the strong consumer demand for regional, outdoor, out-of-home entertainment,” said Mike Spanos, president and CEO of Six Flags. “Our focus is on safely re-opening all of our parks and working with local health officials to eliminate capacity constraints so we can delight the millions of people who count on Six Flags to deliver fun for all.

“We continue to make progress on our transformation plan as we implement new technology to modernise the guest experience and drive operational efficiencies. We’re already seeing significant benefits in 2021.

“We expect the transformation to result in meaningful profit growth once our plan is fully executed and we return to a more normal operating environment.”


Theme park

 

Brogent plans Attack on Titan content as company also prepares to open trio of flying theatres in 2024





Attractions.io championing guest experience in 2024 with new product releases





Plans to build second Great Wolf waterpark resort in the UK move step closer after ‘in-principle’ deal agreed




Industry insights



Museum exhibition design trends



Video



WATCH: Steve Drake on accesso’s expanding portfolio


In Depth



Mundo Amazonia: Exploring Bellewaerde Park’s new themed area for 2024



© Kazoo 5 Limited 2024
About Subscribe Get in touch
 
Opinion In depth Interviews
LIVE news Profiles Diary Video
Jobs
Encouraging Q1 for Six Flags despite COVID losses | Planet Attractions
news

Encouraging Q1 for Six Flags despite COVID losses

Capped attendance was at 95% capacity but Covid continues to have a significant impact on Six Flags’ bottom line




Six Flags continues to be affected by the pandemic but signs of recovery are showing   Credit: Six Flags

Despite closures and restrictions related to the pandemic, Six Flags has reported revenues of US$82m (€67.9, £59m), with 1.3 million visitors coming to the operator’s parks during the first quarter of 2021.

An anticipated decline by the company due to the current global challenges leading to fewer operating days and capacity restrictions, total first quarter attendance declined by 15% compared to 2020 and 38% compared to 2019.

The decline represented a drop of 238,000 visitors compared to 2020 and a decline of 822,000 visitors compared to 2019. Things looked brighter for total capacity however, with attendance at open parks at 95%.

Six Flags did reveal that attendance has slowly improved since the majority of its parks reopened with limited operations in June 2020. The company is now in a position where all of its parks except for Montreal have either reopened or have a set reopening date.

Total revenue for Six Flags represented a decline of US$20m (€16.6m, £14.4m) compared to 2020’s Q1 figures. The revenue drop compared to 2019 was larger, with a decline of US$46m (€38.1m, £33.1m). Net losses for the quarter were US$96m (€79.5m, £69.2m), an increase in losses of US$11m (€9.1m, £7.9m) compared to 2020 and US$27m (€22.3m, £19.5m) for 2019.

“I am extremely proud of the way our team members have maintained the readiness of our parks so that we can quickly ramp up to entertain our guests and capture the strong consumer demand for regional, outdoor, out-of-home entertainment,” said Mike Spanos, president and CEO of Six Flags. “Our focus is on safely re-opening all of our parks and working with local health officials to eliminate capacity constraints so we can delight the millions of people who count on Six Flags to deliver fun for all.

“We continue to make progress on our transformation plan as we implement new technology to modernise the guest experience and drive operational efficiencies. We’re already seeing significant benefits in 2021.

“We expect the transformation to result in meaningful profit growth once our plan is fully executed and we return to a more normal operating environment.”


 



© Kazoo 5 Limited 2024