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SeaWorld reports drop in attendance and revenue for Q2 2023 | Planet Attractions
     

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SeaWorld reports drop in attendance and revenue for Q2 2023

SeaWorld Entertainment has seen a decline in both visitor attendance and revenue in the first half of 2023




SeaWorld has attributed the decreased visitor numbers to adverse weather conditions   Credit: SeaWorld/Miral

SeaWorld Entertainment has reported a decline in both attendance and revenue for the second quarter of 2023.

The company has revealed that SeaWorld parks received 6.1 million visitors in Q2 2023, a decrease of 125,000 guests when compared to the same period last year.

SeaWorld has attributed the drop in visitor attendance to adverse weather conditions, such as unusually hot and cold spells, intense rain and the Canadian wildfires, causing disruptions to operations during peak visitation periods across the majority of its markets.

“We are pleased to report another quarter of solid financial results despite the impact of significantly adverse weather, in-park venue closures and related disruptions due to construction delays and a shift in the timing of the opening of new rides during the quarter,” said SeaWorld CEO Mark Swanson.

The company reported its total revenue for Q2 2023 as US$496m (€450m, £388m), a US$8.8m (€8m, £6.9m) or 1.7% decrease compared to Q2 2022. SeaWorld attributed the loss to lower park attendance.

Similarly, the company’s experienced a decrease in net income, earning US$87.1m (€79m, £68m), US£29.6m (€27m, £23m) or 25.3% less than in the same period the year previously. Adjusted EIBTA, meanwhile, was US$224.2m (€203m, £176m), a decrease of US$10.2m (€9.3m, £8m) or 4.4% from Q2 2022.

The news comes after the business has made several significant investments in the visitor experience, including the opening of SeaWorld’s first non-US park in Abu Dhabi and the launch of several new attractions, such as the B&M manufactured Pipeline: The Surf Coaster at Seaworld Orlando, Arctic Rescue at SeaWorld San Diego and DarKoaster at Busch Gardens Williamsburg in Florida.

“We have made significant investments in our business this year and will continue to make investments to improve the guest experience, allow us to generate more revenue and make us a more efficient and profitable business – we expect these investments to yield very attractive returns,” Swanson added.

“We are currently planning new initiatives for the balance of this year and next year that will make us an even stronger, more profitable and more resilient business. We have high confidence in the plans that we executing on today and for the future and in our ability to deliver substantial operational and financial improvements that will lead to meaningful increases in our shareholder value.”


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SeaWorld reports drop in attendance and revenue for Q2 2023 | Planet Attractions
news

SeaWorld reports drop in attendance and revenue for Q2 2023

SeaWorld Entertainment has seen a decline in both visitor attendance and revenue in the first half of 2023




SeaWorld has attributed the decreased visitor numbers to adverse weather conditions   Credit: SeaWorld/Miral

SeaWorld Entertainment has reported a decline in both attendance and revenue for the second quarter of 2023.

The company has revealed that SeaWorld parks received 6.1 million visitors in Q2 2023, a decrease of 125,000 guests when compared to the same period last year.

SeaWorld has attributed the drop in visitor attendance to adverse weather conditions, such as unusually hot and cold spells, intense rain and the Canadian wildfires, causing disruptions to operations during peak visitation periods across the majority of its markets.

“We are pleased to report another quarter of solid financial results despite the impact of significantly adverse weather, in-park venue closures and related disruptions due to construction delays and a shift in the timing of the opening of new rides during the quarter,” said SeaWorld CEO Mark Swanson.

The company reported its total revenue for Q2 2023 as US$496m (€450m, £388m), a US$8.8m (€8m, £6.9m) or 1.7% decrease compared to Q2 2022. SeaWorld attributed the loss to lower park attendance.

Similarly, the company’s experienced a decrease in net income, earning US$87.1m (€79m, £68m), US£29.6m (€27m, £23m) or 25.3% less than in the same period the year previously. Adjusted EIBTA, meanwhile, was US$224.2m (€203m, £176m), a decrease of US$10.2m (€9.3m, £8m) or 4.4% from Q2 2022.

The news comes after the business has made several significant investments in the visitor experience, including the opening of SeaWorld’s first non-US park in Abu Dhabi and the launch of several new attractions, such as the B&M manufactured Pipeline: The Surf Coaster at Seaworld Orlando, Arctic Rescue at SeaWorld San Diego and DarKoaster at Busch Gardens Williamsburg in Florida.

“We have made significant investments in our business this year and will continue to make investments to improve the guest experience, allow us to generate more revenue and make us a more efficient and profitable business – we expect these investments to yield very attractive returns,” Swanson added.

“We are currently planning new initiatives for the balance of this year and next year that will make us an even stronger, more profitable and more resilient business. We have high confidence in the plans that we executing on today and for the future and in our ability to deliver substantial operational and financial improvements that will lead to meaningful increases in our shareholder value.”


 



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