Merlin Entertainments has released its financial results for 2022, showing strong performance at above the pre-pandemic levels of 2019.
2022 Highlights
Revenues exceeded 2019 levels, despite COVID restrictions continuing in China in 2022 and lower overall attendance.
New attractions, the return of international travelers and increases in per guest spending resulted in increases in revenues at Midway Attractions, LEGOLAND Parks and Resort Theme Parks of 83%, 72% and 20% respectively on the prior year.
Significant new openings in 2022 demonstrate Merlin’s key relationships with global brand partners like LEGO, Sony Pictures Entertainment, Ferrari and Hasbro. These included LEGOLAND® Korea Resort, Jumanji-themed experiences, LEGO® Ferrari Build and Race at LEGOLAND® California, the first standalone Peppa Pig Theme ParkTM in Florida.
All three U.S.-based LEGOLAND® parks have been accredited as Certified Autism Centers by The International Board of Credentialing and Continuing Education Standards.
A return to pre-pandemic growth
Commenting on the results, CEO Scott O’Neil said, “In 2022 Merlin returned to the pre-pandemic trajectory of growth, as we welcomed 56 million guests into our 140+ attractions in the 24 countries across the globe in which we operate. The resilience, commitment, and talent of our 30,000+ employees shone through the recovery and continue to be the backbone of our success.
Combining Merlin’s global operational excellence and the world-class creative execution of our Merlin Magic Makers with the growing roster of iconic brands we are trusted to bring to life, including LEGO, Jumanji, Ferrari, Marvel, Peppa Pig, and Gruffalo & Friends, continues to drive our strategy. We are working ambitiously to build more meaningful businesses and increase our presence for tourists in the most important cities in the world.
“The diversification of our attractions as resorts continues to evolve, our accommodation portfolio of nearly 5,500 rooms is proving to be a sustainable advantage in extending the stay of our guests. Although international tourism numbers are returning to pre-pandemic levels at different rates, domestic travelers seeking more connection and experiences with family and friends continue to enjoy the immersive and joyful escapism of our city attractions, resort theme parks, and LEGOLANDs through day visits, overnight, and short break stays.
“Accommodation revenue was up approximately 55% in 2022, as guests chose to stay in our creative offerings, including treehouses, castles, and log cabins from California to London, and we are confident our themed accommodation will be popular at our flagship LEGOLAND Resort being built in Shanghai.
“Since joining Merlin at the end of 2022, I have had the pleasure of visiting most of our attractions around the world and am increasingly excited and more confident than ever in our leadership depth, ambition, strategy and focus to continue to make more memories, bring more happiness and spread joy to people in more places than anyone else in the world.”
Looking forward in 2023
The recovery looks set to continue, with Merlin reporting Q1 2023 revenue and visitors numbers up over 30% on the same period in 2022. This is attributed to “robust consumer demand”, the continued return of international tourism, higher revenue per visitor and “significant recovery” across Asian attractions.
Brand launches and new attraction openings so far include the £17 million World of Jumanji at Chessington World of Adventures Resort in partnership with Sony Pictures Entertainment; MYTHICA at LEGOLAND® Deutschland; Gruffalo & Friends Clubhouse in Blackpool in partnership with Magic Light Pictures; and the fourth next-generation LEGO® Discovery Centre in Washington D.C.
Today, Merlin has also announced the first standalone Peppa Pig Theme Park in Continental Europe, to open at LEGOLAND Deutschland. The park is schedules to open in time for Merlin’s 20th anniversary in 2024. In addition, North America’s second Peppa Pig Theme Park, scheduled to open in Dallas in 2024, has broken ground.
The 150 lodge Woodland Village at the LEGOLAND Windsor Resort, Merlin’s first operationally carbon neutral accommodation, will open in spring 2024.
Images: Merlin Entertainments
