United Parks & Resorts Announce Fiscal 2023 Results
© Photo: SeaWorld Orlando
(eap) United Parks and Resorts (formerly SeaWorld Parks & Entertainment) have announced their results for the fourth quarter and the full fiscal year results for 2023. In the fourth quarter of 2023, the company welcomed approximately five million guests to its parks, generated total revenue of USD 389 million (approx. EUR 359 million), net income of USD 40.1 million (around EUR 37 million) and adjusted EBITDA of USD 150.4 million (approx. EUR 138.6 million). The number of visitors thus increased by around 23,000 guests compared to the fourth quarter of 2022. All other figures decreased compared to the previous year.
United Parks & Resorts recorded a total of around 21.6 million visitors last year. This is 1.5% fewer guests than in 2022. Total revenue also fell by 0.3% to USD 1,726.6 million (around EUR 1,591.2 million). Net profit amounted to USD 234.2 million (approx. EUR 215.8 million) in 2023 – 19.6% less than in the previous year. Adjusted EBITDA also decreased by 2% to USD 713.5 million (around EUR 657.6 million). Total revenue per capita rose by 1.3% to a record USD 79.91 (EUR 73.65). Admission per capita rose to USD 44.16 (EUR 40.7), while per capita expenditure in the park increased by 2.4% to USD 35.75 (EUR 32.95).
“We are pleased to report another quarter and fiscal year of strong results,” said Marc Swanson, Chief Executive Officer of United Parks and Resorts Inc. “In the fourth quarter we delivered record attendance and record in park per capita spending despite adverse weather impacts, in particular across our Florida markets during peak visitation periods and an unfavourable calendar shift in the quarter. For the full year we delivered near record results and grew our total revenue per capita for the 6th year in a row despite significant adverse weather impacts throughout the year. We estimate that weather related, and calendar shift impacts reduced attendance by over 370,000 visits for the full year.”
“Weather aside, we continue to drive growth in total revenue per capita including growth in admissions per capita, and in-park per capita, which has increased for 15 consecutive quarters, demonstrating the effectiveness of our revenue strategies, our pricing power and the strength of consumer spending in our parks. Also, in 2023 along with our partners we successfully opened our first SeaWorld park outside of the United States in Abu Dhabi, which has been extremely well received and is performing ahead of expectations. In addition, we made meaningful investments across our parks and business that we are confident will deliver strong return and will be a source of growth and profitability this year and into the future,” added Swanson. “I want to thank our ambassadors for all their dedicated efforts in 2023.”
This year, the SeaWorld brand is celebrating its 60th anniversary. As part of the “So Much More to Sea” campaign, guests are invited to experience new rides, parades, shows and culinary delights at all SeaWorld parks. Read more about the new attractions here. ■
