AM2.jobs - Attractions Jobs & News
Attractions Management Magazine


CLICK HERE TO READ THE LATEST ISSUE ONLINE
 
POST YOUR JOB ONLINE
FREE SIGN UP
CONTACT US

Jobs . News . Features . Products . Magazine . Handbook . Blog  
NEWS
SeaWorld to cut further costs following poor first half of 2017
POSTED 08 Aug 2017 . BY Tom Anstey
SeaWorld president and CEO Joel Manby has said the company is not happy with its results for the quarter as the operator plans to further slash costs while attempting to reshape itself following several years of turmoil.

Attendance year-on-year for the quarter for SeaWorld was up by 138,000 guests, though this was as a result of the late occurring Easter break, which happened in the second quarter rather than the first.

Combined results for the first half of the year show visitor numbers down 353,000 visitors compared to the same period in 2016, which SeaWorld said was primarily concentrated at the company's SeaWorld parks in Orlando and San Diego.

"While we are making progress in key areas of our plan, we are not satisfied with our results for the quarter," said Manby. "This quarter provided us with an understanding of what is working and where we need to make adjustments.

"We are increasing our investment in national advertising to generate sufficient awareness of our brand attributes and strong new rides and attractions, developing a new national marketing campaign emphasising our distinct experiences, and reinvesting in our reputation messaging to target perceptions in key markets, particularly California. We will offset this increased advertising with additional cost reductions.”

The company says it is still on target to achieve its US$40m (€33.8m, £30.6m) net saving goal by the end of next year, with the operator “identifying additional areas for cost reduction”.

“We are committed to our capital investment strategy and will continue to invest in new rides, attractions, and festivals across our parks,” said Manby.

“At the same time, we are maintaining our rigorous cost discipline, and while we are on schedule to achieve our targeted savings by the end of 2018, we are identifying an additional US$25m (€21.2m, £19.2m) in potential savings, which we believe could be saved outright or reinvested in our marketing efforts.

In a statement, the company said the declines were driven by “the combined impact of reduced national advertising and competitive pressures”. It added that SeaWorld San Diego was further impacted by public perception issues which “resurfaced since the company reduced marketing spend on its reputation campaign”.

For the first half of the year, SeaWorld reported net losses of US$237m (€200.6m, £181.6m), though this figure includes a non-cash goodwill impairment charge – caused by a decline in the the value of its non-identifiable assets based on future earnings at SeaWorld Orlando.

Earnings before interest, tax, depreciation and amortisation (EBITDA), were US$104.2m (€88.2m, £79.9m) for the quarter, an increase of US$20.4m (€17.3m, £15.6m) on the previous year, with attendance benefiting from the shift in the timing of Easter. For the first half of the year, the company generated revenues of US$560.1m (€474m, £429.3m) – down by 5 per cent or US$31.3m (€28m, £25.4m) year-on-year, with net losses of US$66.3m (€56.2m, £50.8m).
RELATED STORIES
SeaWorld names Marc Swanson as CFO


SeaWorld has named Marc Swanson as its new chief financial officer with Elizabeth Gulacsy taking up Swanson’s previous position of chief accounting officer.
Last captive orca born at SeaWorld dies


The last captive orca born under SeaWorld’s care has died after contracting what was thought to be pneumonia at its park in San Antonio, Texas.
SeaWorld reveals government subpoena requests


SeaWorld is being investigated by two US federal agencies looking into public statements by executives before and during August 2014, including comments about the controversial Blackfish documentary.
SeaWorld continues conservation focus with Rescue Coaster San Antonio debut


SeaWorld’s push for fun and meaningful experiences is continuing, with the debut of Wave Breaker: The Rescue Coaster at its San Antonio theme park.
MORE NEWS
Exclusive: Australian market recovering, says Village Roadshow COO as operator addresses safety concerns
Following a year of turmoil for Australia’s theme park sector, the Gold Coast market is finally starting to show signs of recovery, according to Village Roadshow Theme Parks COO Bob White.
Renovation work starts on Manhattan Beach's pier aquarium
A historic pier and aquarium on Manhattan Beach, California, is undergoing a major renovation after reaching its fundraising targets.
Coventry named UK City of Culture 2021
Coventry will be the third UK City of Culture following an announcement by minister for Arts, Heritage and Tourism John Glen.
Public art crucial for cities, argues designer who delivered Ai Weiwei's New York installations
One of the design team responsible for realising Ai Weiwei’s huge ‘security fence’ installations across New York has told CLADglobal the popularity of the project demonstrates why cities and developers would be “mad” not to commission creativity.
More news>
LATEST JOBS
Head of Food and Beverage
Paultons Park
Salary: Competitive Salary & Benefits
Location: Paultons Park, United Kingdom
Visitor Operations Team Duty Manager
Chatham Historic Dockyard Trust
Salary: £22,000 pa
Location: Chatham, United Kingdom
General Manager
Sea Life
Salary: Competitive
Location: Concord, NC, United States
Front Office Manager
Legoland
Salary: Competitive
Location: Carlsbad, CA, United States
Duty Manager
Madame Tussauds
Salary: Competitive
Location: Hollywood, Los Angeles, CA, United States



RECRUITING NOW
Merlin
Historic Dockyard

COMPANY PROFILES
DJW
This year DJW celebrates 30 years in the industry, with David and Lynn Willrich having started the company from the AV department of the National Motor Museum in Beaulieu. [more...]
Latest Issue
CATALOGUE GALLERY
MORE CATALOGUES >

Attractions Management
Handbook available
online and in print >
 
 
ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
 
ATTRACTIONS MANAGEMENT
AM2
ATTRACTIONS HANDBOOK
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS
ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2017
AM2.jobs - Attractions Jobs & News
Attractions Management Magazine


CLICK HERE TO READ THE LATEST ISSUE ONLINE
 

Jobs . News . Products . Magazine  
Post your job online   Free sign up   Contact us
NEWS
SeaWorld to cut further costs following poor first half of 2017
POSTED 08 Aug 2017 . BY Tom Anstey
SeaWorld president and CEO Joel Manby has said the company is not happy with its results for the quarter as the operator plans to further slash costs while attempting to reshape itself following several years of turmoil.

Attendance year-on-year for the quarter for SeaWorld was up by 138,000 guests, though this was as a result of the late occurring Easter break, which happened in the second quarter rather than the first.

Combined results for the first half of the year show visitor numbers down 353,000 visitors compared to the same period in 2016, which SeaWorld said was primarily concentrated at the company's SeaWorld parks in Orlando and San Diego.

"While we are making progress in key areas of our plan, we are not satisfied with our results for the quarter," said Manby. "This quarter provided us with an understanding of what is working and where we need to make adjustments.

"We are increasing our investment in national advertising to generate sufficient awareness of our brand attributes and strong new rides and attractions, developing a new national marketing campaign emphasising our distinct experiences, and reinvesting in our reputation messaging to target perceptions in key markets, particularly California. We will offset this increased advertising with additional cost reductions.”

The company says it is still on target to achieve its US$40m (€33.8m, £30.6m) net saving goal by the end of next year, with the operator “identifying additional areas for cost reduction”.

“We are committed to our capital investment strategy and will continue to invest in new rides, attractions, and festivals across our parks,” said Manby.

“At the same time, we are maintaining our rigorous cost discipline, and while we are on schedule to achieve our targeted savings by the end of 2018, we are identifying an additional US$25m (€21.2m, £19.2m) in potential savings, which we believe could be saved outright or reinvested in our marketing efforts.

In a statement, the company said the declines were driven by “the combined impact of reduced national advertising and competitive pressures”. It added that SeaWorld San Diego was further impacted by public perception issues which “resurfaced since the company reduced marketing spend on its reputation campaign”.

For the first half of the year, SeaWorld reported net losses of US$237m (€200.6m, £181.6m), though this figure includes a non-cash goodwill impairment charge – caused by a decline in the the value of its non-identifiable assets based on future earnings at SeaWorld Orlando.

Earnings before interest, tax, depreciation and amortisation (EBITDA), were US$104.2m (€88.2m, £79.9m) for the quarter, an increase of US$20.4m (€17.3m, £15.6m) on the previous year, with attendance benefiting from the shift in the timing of Easter. For the first half of the year, the company generated revenues of US$560.1m (€474m, £429.3m) – down by 5 per cent or US$31.3m (€28m, £25.4m) year-on-year, with net losses of US$66.3m (€56.2m, £50.8m).
RELATED STORIES
SeaWorld names Marc Swanson as CFO


SeaWorld has named Marc Swanson as its new chief financial officer with Elizabeth Gulacsy taking up Swanson’s previous position of chief accounting officer.
Last captive orca born at SeaWorld dies


The last captive orca born under SeaWorld’s care has died after contracting what was thought to be pneumonia at its park in San Antonio, Texas.
SeaWorld reveals government subpoena requests


SeaWorld is being investigated by two US federal agencies looking into public statements by executives before and during August 2014, including comments about the controversial Blackfish documentary.
SeaWorld continues conservation focus with Rescue Coaster San Antonio debut


SeaWorld’s push for fun and meaningful experiences is continuing, with the debut of Wave Breaker: The Rescue Coaster at its San Antonio theme park.
MORE NEWS
Exclusive: Australian market recovering, says Village Roadshow COO as operator addresses safety concerns
Following a year of turmoil for Australia’s theme park sector, the Gold Coast market is finally starting to show signs of recovery, according to Village Roadshow Theme Parks COO Bob White.
Renovation work starts on Manhattan Beach's pier aquarium
A historic pier and aquarium on Manhattan Beach, California, is undergoing a major renovation after reaching its fundraising targets.
Coventry named UK City of Culture 2021
Coventry will be the third UK City of Culture following an announcement by minister for Arts, Heritage and Tourism John Glen.
Public art crucial for cities, argues designer who delivered Ai Weiwei's New York installations
One of the design team responsible for realising Ai Weiwei’s huge ‘security fence’ installations across New York has told CLADglobal the popularity of the project demonstrates why cities and developers would be “mad” not to commission creativity.
More news>
LATEST JOBS
Head of Food and Beverage
Paultons Park
Salary: Competitive Salary & Benefits
Location: Paultons Park, United Kingdom
Visitor Operations Team Duty Manager
Chatham Historic Dockyard Trust
Salary: £22,000 pa
Location: Chatham, United Kingdom
General Manager
Sea Life
Salary: Competitive
Location: Concord, NC, United States
Front Office Manager
Legoland
Salary: Competitive
Location: Carlsbad, CA, United States
Duty Manager
Madame Tussauds
Salary: Competitive
Location: Hollywood, Los Angeles, CA, United States



 
 
ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2017

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
 
ATTRACTIONS MANAGEMENT
AM2
ATTRACTIONS HANDBOOK
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS

NEWS
SeaWorld to cut further costs following poor first half of 2017
POSTED 08 Aug 2017 . BY Tom Anstey
SeaWorld president and CEO Joel Manby has said the company is not happy with its results for the quarter as the operator plans to further slash costs while attempting to reshape itself following several years of turmoil.

Attendance year-on-year for the quarter for SeaWorld was up by 138,000 guests, though this was as a result of the late occurring Easter break, which happened in the second quarter rather than the first.

Combined results for the first half of the year show visitor numbers down 353,000 visitors compared to the same period in 2016, which SeaWorld said was primarily concentrated at the company's SeaWorld parks in Orlando and San Diego.

"While we are making progress in key areas of our plan, we are not satisfied with our results for the quarter," said Manby. "This quarter provided us with an understanding of what is working and where we need to make adjustments.

"We are increasing our investment in national advertising to generate sufficient awareness of our brand attributes and strong new rides and attractions, developing a new national marketing campaign emphasising our distinct experiences, and reinvesting in our reputation messaging to target perceptions in key markets, particularly California. We will offset this increased advertising with additional cost reductions.”

The company says it is still on target to achieve its US$40m (€33.8m, £30.6m) net saving goal by the end of next year, with the operator “identifying additional areas for cost reduction”.

“We are committed to our capital investment strategy and will continue to invest in new rides, attractions, and festivals across our parks,” said Manby.

“At the same time, we are maintaining our rigorous cost discipline, and while we are on schedule to achieve our targeted savings by the end of 2018, we are identifying an additional US$25m (€21.2m, £19.2m) in potential savings, which we believe could be saved outright or reinvested in our marketing efforts.

In a statement, the company said the declines were driven by “the combined impact of reduced national advertising and competitive pressures”. It added that SeaWorld San Diego was further impacted by public perception issues which “resurfaced since the company reduced marketing spend on its reputation campaign”.

For the first half of the year, SeaWorld reported net losses of US$237m (€200.6m, £181.6m), though this figure includes a non-cash goodwill impairment charge – caused by a decline in the the value of its non-identifiable assets based on future earnings at SeaWorld Orlando.

Earnings before interest, tax, depreciation and amortisation (EBITDA), were US$104.2m (€88.2m, £79.9m) for the quarter, an increase of US$20.4m (€17.3m, £15.6m) on the previous year, with attendance benefiting from the shift in the timing of Easter. For the first half of the year, the company generated revenues of US$560.1m (€474m, £429.3m) – down by 5 per cent or US$31.3m (€28m, £25.4m) year-on-year, with net losses of US$66.3m (€56.2m, £50.8m).
RELATED STORIES
SeaWorld names Marc Swanson as CFO


SeaWorld has named Marc Swanson as its new chief financial officer with Elizabeth Gulacsy taking up Swanson’s previous position of chief accounting officer.
Last captive orca born at SeaWorld dies


The last captive orca born under SeaWorld’s care has died after contracting what was thought to be pneumonia at its park in San Antonio, Texas.
SeaWorld reveals government subpoena requests


SeaWorld is being investigated by two US federal agencies looking into public statements by executives before and during August 2014, including comments about the controversial Blackfish documentary.
SeaWorld continues conservation focus with Rescue Coaster San Antonio debut


SeaWorld’s push for fun and meaningful experiences is continuing, with the debut of Wave Breaker: The Rescue Coaster at its San Antonio theme park.
 


ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2017

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS