Spain: Parques Reunidos Presents First Half of 2017 Fiscal Year Results
Spanish operator group Parques Reunidos recently presented the results of the first half of its 2017 fiscal year. The group records total revenues of 105.8 million Euros, representing a decrease of -0.2 percent in comparison to the same period of the previous year, due to the calendar shift of the Easter holidays.
As of May 7th, to include the Easter holidays and the May bank holiday weekend, revenues amounted to 156.8 million Euros, achieving a plus of 8.4 percent in comparison to the same period of the previous year. According to Parques Reunidos, this success is a result of record sales in season passes as well as commercial campaigns carried out to extend the season, such as Halloween and Christmas campaigns. Especially in its Spanish home market, the group recorded increased revenues of 18.7 percent, followed by positive growth rates across all regions where the company is active. As high season is concentrated between June and September, the results of the fiscal year’s first half represent less than 20 percent of the estimated total annual revenue (total revenue 2016: 584 million Euros, c.p. EAP, 2/17).
As part of its growth strategy, Parques Reunidos is incorporating new technologies to its business assets: at Parque de Atracciones Madrid, the “Vértigo” coaster has been equipped with Virtual Reality technology, along with “Master Thai” at Italy’s Mirabilandia and “Sky Rocket” at Kennywood (Pennsylvania, USA). Furthermore, Parques Reunidos has entered a strategic partnership with Chinese Harves Century Group to develop theme parks and indoor entertainment centers in China. Another project in Asia has been completed earlier this year with the new Typhoon Water Park in Vietnam. (eap)
