Sea World attendance jumping
After several years of disappointing attendance and finances, Sea World is suddenly making a splash at the turnstiles.
Sea World’s attendance and sales jumped in the second quarter, giving investors hope that the company is finally on the mend.
Sea World had been losing customers since the 2013 documentary “Blackfish” raised questions about the company’s treatment of killer whales and trainers. The amusement park operator has long defended its practices but eventually decided to end theatrical orca shows and orca breeding.
Since then, the company has emphasized its wildlife conservation efforts and invested in new rides, park experiences and marketing.
It might be paying off. Sea World Entertainment reported a 4.8 percent increase in second-quarter attendance to 6.4 million people. Revenue rose 4.9 percent to $392 million, and the company reported a profit of $23 million a year after losing $176 million.
Customers spent less per person on admission, but they made up for it by spending more in the park on food, souvenirs and fun.
“We are seeing growth in attendance and revenue as a result of our new pricing strategies, enhanced communications activities and strong operational execution,” Sea World interim CEO John Reilly said in a statement.
Reilly took over as interim CEO in February for Joel Manby, who left suddenly after nearly three years at the helm.
Under Manby’s tenure, fiscal-year attendance hit its lowest point in 2017 since at least 2010, according to public filings. But Manby also laid the path for the new strategy tied to alternative rides and shows designed to remake the company’s image.
Reilly reported “positive guest reception of our new rides, attractions and events across our parks,” including a new “Electric Ocean” event at Sea World parks and a “Summer Nights” event at Busch Gardens locations.
The company is also shedding costs, having already cut $40 million and announcing plans Monday to cut at least $50 million more.