United Parks & Resorts Presents Annual Results
Photo: Aquatica San Antonio
(eap) The American theme park operator group United Parks & Resorts (formerly SeaWorld Parks & Entertainment) has announced its results for the fourth quarter and its overall results for the 2024 financial year. In the fourth quarter, the group welcomed a total of 4.9 million guests to its parks, which corresponds to a slight decrease of around 79,000 guests compared to the fourth quarter of 2023. Along with visitor numbers, total revenue also fell by USD 4.6 million (around EUR 4.4 million) to USD 384.4 million (approx. EUR 367 million), net income by USD 12.2 million (EUR 11.6 million) to USD 27.9 million (EUR 26.6 million) and adjusted EBITDA by USD 6 million (EUR 5.7 million) to USD 144.5 million (EUR 138 million). Total revenue per capita, on the other hand, rose by 0.4% to USD 78.75 (EUR 75.18). Admission per capita fell by 1.9% to USD 43.61 (EUR 41.63), while in-park per capita spending rose by 3.5% to USD 35.14 (EUR 33.55).
Photo: Busch Gardens Tampa Bay
The trend in the fourth quarter is also reflected in the company’s annual results. The total number of visitors fell by 59,000 to 21.5 million guests compared to the same period last year. As a result, total revenue fell by 0.1 percent to USD 1,725.3 million (EUR 1,647 million), net income by 2.9 percent to USD 227.5 million (EUR 217.2 million) and adjusted EBITDA by 1.9 percent to USD 700.2 million (EUR 668.4 million). Total revenue per capita rose by 0.2% to a record level of USD 80.07 (EUR 76.44). Admission per capita fell by 1.2 percent to USD 43.61 (EUR 41.63) and in-park per capita spending rose by two percent to a record USD 36.46 (EUR 34.81).
Both in the case of the fourth quarter figures and in relation to the overall results, United Parks cites the difficult weather conditions in the 2024 financial year as the main factor for decreasing visitor numbers, affecting financial figures such as total revenue. Per capita admission has fallen compared to the same quarter of the previous year primarily due to the impact of lower pricing as part of certain promotional admission products. Per capita spending has improved compared to the fourth quarter of 2023 primarily due to pricing initiatives.
“We’ve had a pretty bad run of unusually poor weather over the last couple of years. Fourth quarter and fiscal year results were impacted by meaningfully worse weather, including Hurricanes Debby in August, Helene in September and Milton in October. We estimate that the combined impact of the meaningfully worse weather was approximately 167,000 guests in the fourth quarter and 432,000 guests for the fiscal year. Adjusting for these impacts, we estimate that fourth quarter attendance would have increased approximately 2% compared to the prior year quarter and full year 2024 attendance would have increased approximately 2% compared to 2023,” states Marc Swanson, Chief Executive Officer of United Parks & Resorts.
The new “Wild Oasis Realm“ opening at Busch Gardens Tampa Bay | Image: Courtesy of Busch Gardens Tampa Bay.
This year, visitors can look forward to several new attractions at the United Parks & Resorts amusement parks. SeaWorld Orlando is opening an Airific Flying Theater from Mack Rides, SeaWorld San Diego is getting a new aquarium named “Jewels of the Sea” and is revamping “Journey to Atlantis” – the oldest roller coaster in the park. SeaWorld San Antonio and Busch Gardens Tampa Bay are opening new child-friendly themed areas with “Rescue Jr.” and “Wild Oasis” respectively, both of which feature various attractions. Furthermore, the roller coaster portfolio of Busch Gardens Williamsburg is being expanded to include the new family inverted coaster “The Big Bad Wolf: The Wolf’s Revenge” from B&M. Moreover, Sesame Place Philadelphia is celebrating its 45th anniversary with corresponding events and Water Country USA gets a multi-level water play structure named “High Tide Harbor”.
“We are excited about our plans for 2025, including the meaningful investments we have made across our parks and business and an incredible line-up of new, one-of-a kind rides and attractions, popular events, improved in park venues and offerings across our parks. We are pleased with our overall 2025 booking trends and are particularly happy to see our 2025 international sales growth up mid-single digits and our 2025 group bookings growth up double digits. Assuming no worse weather than we experienced in 2024, we expect meaningful growth and new records in revenue and Adjusted EBITDA in 2025. I want to thank our ambassadors for all their hard work and dedication as we start 2025,” concludes Swanson. ■
