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SEAWORLD Entertainment Inc. is the operator of 12 theme parks across the US including three amusement parks called SeaWorld dedicated to marine attractions, with killer whale and dolphin shows.
It also highlighted problems within the sea-park industry, man’s relationship to nature, and how little has been learned about these highly intelligent mammals.
Following harsh criticism from animal rights groups and public pressure that ensued, SeaWorld saw a dramatic loss of revenue at over US$200 million in the fiscal year 2017, after a loss of $215 million in 2016.
As the park drew fewer visitors and its losses widened in the last quarter of 2018, SeaWorld Entertainment Inc. chief executive Joel Manby, who had been CEO since 2015, announced he was stepping down.
How did SeaWorld get itself out of the prolonged slump?
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After the release of Blackfish, SeaWorld finally acknowledged the shift in public opinion and announced it would no longer breed its iconic killer whales or use them in theatrical shows.
The generation of killer whales currently at its parks will be the last.
Then, SeaWorld started adding big-ticket, thrilling attractions such as Infinity Falls, a family raft ride; the Electric Eel, a rollercoaster; Electric Ocean, a nighttime entertainment experience; and Ocean Explorer, a three-minute-long submarine ride that gives riders the sense of being a deep-sea explorer.
On top of that, the company changed its ticket pricing strategy to remain competitive, selling a two-park ticket that includes admission to its water park, Aquatica, or its Tampa parks for US$99.99.
To put this into perspective, it’s priced significantly lower than Universal or Disney tickets where admission for one day tops US$100.
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Aside from dropping ticket prices, SeaWorld brought back a summer promotion at its Tampa and Orlando parks – free beer.
“Visit Mama’s Pretzel Kitchen Patio and receive up to two complimentary 7-ounce beers per visit,” SeaWorld wrote on its website.
“The park will rotate beer offerings throughout the summer starting off with SeaWorld’s very own Mako Red Ale. Bud Light, Coors Light, Miller Light, Yuengling and more will also be featured throughout the summer.”
SeaWorld offered a “buy one, get one free” happy hour deal as well, an offer that applies to Flamecraft Bar and Sharks Underwater Grill Bar for a variety of domestic and craft beer, and mixed drinks from 4pm to 8pm each day,
“And you can imagine, this limited-time promotion has been popular with our guests,” Interim CEO John Reilly said.
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For the quarter, attendance increased 4.8 percent to 6.4 million visitors. International attendance has also increased.
“We are particularly pleased with our second quarter attendance growth, which more than offset the negative impacts from unfavorable weather across several of our markets in the quarter, and the earlier timing of the Easter holiday in 2018, which benefitted the first quarter at the expense of the second quarter,” Reilly said in a press release.
Revenue, on the other hand, increased nearly five percent to about $392 million – above analyst expectations.
Last year, the company inked a deal with fast-growing Chinese real estate investment firm Zhonghong Zhuoye to develop theme parks in mainland China, Taiwan, Hong Kong, and Macau.
The conglomerate is SeaWorld’s largest shareholder, having acquired a 21 percent stake in SeaWorld Entertainment Inc. from Blackstone Group LP.
The first, nicknamed SeaWorld Haikou, was expected to open on Ruyi Island, an artificial island currently under construction off the coast of Haikou on Hainan Island in China. However, that has been shelved.
The post How SeaWorld is bringing back its audience appeared first on Travel Wire Asia.
Source: travelwireasia.com