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China’s appetite for theme parks keeps getting fed.
Six Flags Entertainment Corp. just announced three new parks for 2020 in China, on top of four it already has in the works.
The regional theme park operator will join industry rivals in the market: Disney, which opened Shanghai Disney Resort last year, and Universal Parks & Resorts, which is building a Beijing park.
“China continues to show very strong growth,” Six Flags Entertainment president and CEO Jim Reid-Anderson told analysts during an earnings call on Wednesday.
On Thursday, the company announced the latest additions — all new concepts. They include Six Flags Kids World, designed for families with young children, and Six Flags Adventure Park, full of activities such as zip lining, whitewater rafting, and rock climbing.
John Odum, president of Six Flags International Development Co., said in a statement that the new parks will “offer unique, interactive experiences tailored to every member of the family—from the youngest thrill-seeker-in-training, to the ultimate adventure-seeker.”
Six Flags, which is partnering with Riverside Investment Group Co. in China, has said international licensing is a key driver of growth for the company.
“This attractive long-term strategy allows us to monetize our globally known brand and expertise with no capital investment,” Reid-Anderson said Wednesday. “We are only beginning to realize its potential.”
The kid-oriented parks — with smaller versions of roller coasters and rides found at other Six Flags locations — will be built adjacent to Six Flags Zhejiang and Six Flags Chongqing, which were both previously announced. Six Flags Adventure Park will be adjacent to the Six Flags Chongqing site.
“There is great demand for leisure experiences in China and Six Flags’ reputation in the theme park and entertainment industry is unmatched. We are excited to expand our partnership and bring the latest and most innovative Six Flags offerings to more and more people,” Zhe Li, chairman of Riverside Investment Group, said in a statement. “It has always been the vision of both Six Flags and Riverside to have multiple parks throughout China and this announcement builds on that shared vision.”
Source: skift.com