DXB Entertainments visitor numbers up
DXB Entertainments, the theme parks operator, said visitor numbers to its Dubai Parks and Resorts rose 2.9 per cent in the fourth quarter of last year, boosted by school holidays and the start of winter season.
The company recorded 819,000 visitors for the three months to the end of December, up from 796,000 a year earlier, DXB Entertainments said in a statement yesterday to the Dubai Financial Market, where its shares are traded.
The theme parks attracted 2.8 million visitors in 2018, a 22 per cent year-on-year jump, after it introduced an annual pass programme and more international tourists flocked to its parks.
“The last quarter of the year benefited from winter seasonality, with Halloween, the UAE’s 47th anniversary and the winter school break and holidays boosting visitor numbers,” the company said.
DXB Entertainments, in which Dubai developer Meraas holds a 52.3 per cent stake, in November said it was conducting a strategic review of Dubai Parks and Resorts that may delay the opening of Six Flags Dubai theme park.
The company, which reported narrower third-quarter losses, had also reached a deal in March to restructure Dh4.2 billion in debt and received fresh funding from Meraas.
The company plans to increase visitor numbers this year by attracting more tourists, Mohamed Almulla, chief executive and managing director of DXB Entertainments, said without providing guidance on visitor targets.
“Our priority is to continue increasing footfall from international tourists, which is a key growth driver for the destination, while maintaining the solid base of local and regional visitors,” Mr Almulla said.
There has been a rise in the number of theme parks and attractions in the Arabian Gulf region, but some have faced initial problems.
Launched in late 2016 in phases, DXB Entertainments struggled to meet its initial target for visitor numbers, leading it to slash costs and ticket prices. Last year was the first in which its main attractions were all open.
The company shrank its third-quarter losses by 4.5 per cent to record a net loss of Dh271.4 million in the period ended September 30, missing the median estimate of Dh256.5 of two analysts polled by Bloomberg. It has yet to report fourth-quarter earnings.
DXB Entertainments owns Dubai Parks and Resorts, a group of theme parks including Motiongate and Legoland.