People visited Dubai Parks and Resorts during 2018

dubai — DXB Entertainments said almost 2.8 million people visited Dubai Parks and Resorts during 2018, an increase of 22 per cent compared to 2017.

The company said in its annual statement that growth was driven by the successful integration of the annual pass programme, increased occupancy and therefore visitation from the Lapita Hotel and increased footfall from international tourists.

In Q4 2018, Dubai Parks and Resorts recorded over 819,000 visits, compared to 796,000 in the same period in 2017.

The company didn’t disclose its 2018 financial results. In 2017, it posted a loss of Dh1.11 billion as compared to Dh485 million in the previous year. It recorded Dh552 million revenues in 2017.

Despite increased visitor numbers, DXB Entertainments shares plunged 2.67 per cent to Dh0.255 on Monday.

The company said it benefitted from winter seasonality, Halloween event, the UAE’s 47th anniversary, winter school break and holidays in Q4 2018.

The Lapita Hotel average occupancy rose to 60 per cent in 2018, showing significant improvement compared to 35 per cent occupancy reported in 2017, with occupancy peaking close to 100 per cent during certain days in December and an average 63 per cent in Q4.

Mohamed Almulla, CEO and managing director, DXB Entertainments, said 40 per cent of overall footfall came from international tourists, demonstrating benefits of its partnerships with Emirates airline, RTA and Dubai Airport, as well as China’s Union Pay.

“Looking ahead to 2019, our priority is to continue increasing footfall from international tourists, which is a key growth driver, while also maintaining the solid base of local and regional visitors. We look forward to continue on this growth trajectory during 2019 and beyond,” Almulla said.

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