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NEWS
DXB reshapes business following poor second quarter
POSTED 11 Aug 2017 . BY Tom Anstey
Almost a year on from the launch of its multi-billion pound theme park and resort development in Dubai, operator DXB Entertainments has announced a significant losses for the second quarter of 2017.

Losses for the second quarter grew by almost six times, with AED286.2m (US$77.9m, €66.3m, £55.9m) losses compared to AED41.3m (US$11.2m, €9.6m, £8.6m) for the same period in 2016.

Revenue for the quarter was AED119.6m (US$32.6m, €27.7m, £25m), down from AED159.9m (US$43.5m, €37m, £33.5m) in the first quarter of the year shortly after the staggered launch of Dubai Parks and Resorts.

As a result, DXB has announced a new business strategy, introducing three new business units to better manage its existing assets.

Divided into theme parks, family entertainment centres (FECs), and retail and hospitality, the company says each division will be led by a regional industry specialist “with proven management experience”.

According to DXB, a similar third quarter is expected thanks to the extremely hot weather during the period, though it expects growth in the final three months of the year when temperatures lower.

As part of its reorganisation, DXB has also announced a deal with Meraas Leisure and Entertainment to manage assets including Hub Zero, Mattel Play Town and Roxy Cinemas among others, with the operator intending to “seek further opportunities to manage contemporary leisure and entertainment offerings in the UAE.”

“We are re-organising the business into three operating business units which aligns DXB with our strategic growth objectives,” said DXB chief executive, Mohamed Almulla. “The new structure and the industry specific talent we are bringing on board will help to drive value across DXB’s leisure and entertainment portfolio.

“We already own a great asset in the form of Dubai Parks and Resorts. With the addition of Meraas’ leisure and entertainment portfolio, DXBE will be able to identify and build significant cross-marketing synergies and additional revenue from the coordinated management of our diversified portfolio of assets.”
RELATED STORIES
DXB Entertainments names Almulla as new CEO following Al Nuaimi departure


DXB Entertainments, owner of Dubai Parks and Resorts, has named Arab Media Group (AMG) chief executive Mohamed Almulla as its new CEO.
DXB cutting costs by 20 per cent after posting Q1 loss


DXB Entertainments, the operator of Dubai Parks and Resorts, has said it will cut operating costs by 20 per cent this year after posting losses of AED292m (US$79.5m, €73.1m, £61.8m) in the first quarter of 2017.
DXB plans expansion of Lapita hotel brand to entertainment destinations worldwide


DXB Entertainments – the parent company of Dubai Parks and Resorts – has announced its intention to expand its Lapita Hotel brand beyond the UAE, with plans to establish a collection of themed hotels, tailored to theme park and family entertainment destinations.
Dubai Parks and Resorts planning fifth theme park


Dubai Parks and Resorts’ three major zones are now open, and the fourth Six Flags- branded park is under construction, but it seems operator DXB Entertainments is not about to rest on its laurels, with plans for a fifth park currently in the works.
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NEWS
DXB reshapes business following poor second quarter
POSTED 11 Aug 2017 . BY Tom Anstey
Almost a year on from the launch of its multi-billion pound theme park and resort development in Dubai, operator DXB Entertainments has announced a significant losses for the second quarter of 2017.

Losses for the second quarter grew by almost six times, with AED286.2m (US$77.9m, €66.3m, £55.9m) losses compared to AED41.3m (US$11.2m, €9.6m, £8.6m) for the same period in 2016.

Revenue for the quarter was AED119.6m (US$32.6m, €27.7m, £25m), down from AED159.9m (US$43.5m, €37m, £33.5m) in the first quarter of the year shortly after the staggered launch of Dubai Parks and Resorts.

As a result, DXB has announced a new business strategy, introducing three new business units to better manage its existing assets.

Divided into theme parks, family entertainment centres (FECs), and retail and hospitality, the company says each division will be led by a regional industry specialist “with proven management experience”.

According to DXB, a similar third quarter is expected thanks to the extremely hot weather during the period, though it expects growth in the final three months of the year when temperatures lower.

As part of its reorganisation, DXB has also announced a deal with Meraas Leisure and Entertainment to manage assets including Hub Zero, Mattel Play Town and Roxy Cinemas among others, with the operator intending to “seek further opportunities to manage contemporary leisure and entertainment offerings in the UAE.”

“We are re-organising the business into three operating business units which aligns DXB with our strategic growth objectives,” said DXB chief executive, Mohamed Almulla. “The new structure and the industry specific talent we are bringing on board will help to drive value across DXB’s leisure and entertainment portfolio.

“We already own a great asset in the form of Dubai Parks and Resorts. With the addition of Meraas’ leisure and entertainment portfolio, DXBE will be able to identify and build significant cross-marketing synergies and additional revenue from the coordinated management of our diversified portfolio of assets.”
RELATED STORIES
DXB Entertainments names Almulla as new CEO following Al Nuaimi departure


DXB Entertainments, owner of Dubai Parks and Resorts, has named Arab Media Group (AMG) chief executive Mohamed Almulla as its new CEO.
DXB cutting costs by 20 per cent after posting Q1 loss


DXB Entertainments, the operator of Dubai Parks and Resorts, has said it will cut operating costs by 20 per cent this year after posting losses of AED292m (US$79.5m, €73.1m, £61.8m) in the first quarter of 2017.
DXB plans expansion of Lapita hotel brand to entertainment destinations worldwide


DXB Entertainments – the parent company of Dubai Parks and Resorts – has announced its intention to expand its Lapita Hotel brand beyond the UAE, with plans to establish a collection of themed hotels, tailored to theme park and family entertainment destinations.
Dubai Parks and Resorts planning fifth theme park


Dubai Parks and Resorts’ three major zones are now open, and the fourth Six Flags- branded park is under construction, but it seems operator DXB Entertainments is not about to rest on its laurels, with plans for a fifth park currently in the works.
MORE NEWS
Avant-garde artist Yayoi Kusama to open eponymous museum in Tokyo
A new website has announced the opening of the Yayoi Kusama Museum, in Tokyo, Japan.
DCMS introduces £15m cultural regeneration fund as part of Great Exhibition of the North
Culture and tech projects in the North of England will soon be able to bid for a slice from a £15m (US$19.3m, €16.5m) funding pie, with a new fund established to help build a lasting regional legacy for the Great Exhibition of the North.
Pezo von Ellrichshausen and Felice Varini design Hull public pavilion for UK City of Culture 2017
Swiss artist Felice Varini and the Chilean architecture practice Pezo von Ellrichshausen have been commissioned to design an ambitious temporary outdoor structure in the historic heart of Hull, UK.
Tech start up Neurable creates world's first brain-controlled VR system
Tech startup Neurable has taken virtual reality to the next level, creating computer interfaces for the brain to allow users to control the technology using only the power of their minds.
More news>
LATEST JOBS
Project Delivery Officer
Hull Culture and Leisure
Salary: £17,072 - £18,070
Location: Hull, United Kingdom
Leisure Marketing Manager
Hull Culture and Leisure
Salary: 30,785 - £33,437
Location: Hull, United Kingdom
Head of Site - RHS Garden Wisley
Royal Horticultural Society
Salary: circa £70,000
Location: Wisley, United Kingdom
Visitor Experience and Operations Manager
National Trust
Salary: £30,507 pa
Location: Shrewsbury, United Kingdom
Estates and Properties Manager
Paultons Park
Salary: Excellent salary and benefit package
Location: Romsey, United Kingdom
Visitor Services Manager
Raby Castle
Salary: Competitive
Location: Darlington, United Kingdom



 
 
ADVERTISE . CONTACT US

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

©Cybertrek 2017

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NEWS
DXB reshapes business following poor second quarter
POSTED 11 Aug 2017 . BY Tom Anstey
Almost a year on from the launch of its multi-billion pound theme park and resort development in Dubai, operator DXB Entertainments has announced a significant losses for the second quarter of 2017.

Losses for the second quarter grew by almost six times, with AED286.2m (US$77.9m, €66.3m, £55.9m) losses compared to AED41.3m (US$11.2m, €9.6m, £8.6m) for the same period in 2016.

Revenue for the quarter was AED119.6m (US$32.6m, €27.7m, £25m), down from AED159.9m (US$43.5m, €37m, £33.5m) in the first quarter of the year shortly after the staggered launch of Dubai Parks and Resorts.

As a result, DXB has announced a new business strategy, introducing three new business units to better manage its existing assets.

Divided into theme parks, family entertainment centres (FECs), and retail and hospitality, the company says each division will be led by a regional industry specialist “with proven management experience”.

According to DXB, a similar third quarter is expected thanks to the extremely hot weather during the period, though it expects growth in the final three months of the year when temperatures lower.

As part of its reorganisation, DXB has also announced a deal with Meraas Leisure and Entertainment to manage assets including Hub Zero, Mattel Play Town and Roxy Cinemas among others, with the operator intending to “seek further opportunities to manage contemporary leisure and entertainment offerings in the UAE.”

“We are re-organising the business into three operating business units which aligns DXB with our strategic growth objectives,” said DXB chief executive, Mohamed Almulla. “The new structure and the industry specific talent we are bringing on board will help to drive value across DXB’s leisure and entertainment portfolio.

“We already own a great asset in the form of Dubai Parks and Resorts. With the addition of Meraas’ leisure and entertainment portfolio, DXBE will be able to identify and build significant cross-marketing synergies and additional revenue from the coordinated management of our diversified portfolio of assets.”
RELATED STORIES
DXB Entertainments names Almulla as new CEO following Al Nuaimi departure


DXB Entertainments, owner of Dubai Parks and Resorts, has named Arab Media Group (AMG) chief executive Mohamed Almulla as its new CEO.
DXB cutting costs by 20 per cent after posting Q1 loss


DXB Entertainments, the operator of Dubai Parks and Resorts, has said it will cut operating costs by 20 per cent this year after posting losses of AED292m (US$79.5m, €73.1m, £61.8m) in the first quarter of 2017.
DXB plans expansion of Lapita hotel brand to entertainment destinations worldwide


DXB Entertainments – the parent company of Dubai Parks and Resorts – has announced its intention to expand its Lapita Hotel brand beyond the UAE, with plans to establish a collection of themed hotels, tailored to theme park and family entertainment destinations.
Dubai Parks and Resorts planning fifth theme park


Dubai Parks and Resorts’ three major zones are now open, and the fourth Six Flags- branded park is under construction, but it seems operator DXB Entertainments is not about to rest on its laurels, with plans for a fifth park currently in the works.
 


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