Merlin Entertainments has reported record revenues for the 2023 financial year. The company has also announced the acquisition of Icon Park’s observation wheel.
In the year ended 30 December 2023, Merlin’s 141 theme parks and visitor attractions in 23 countries welcomed 62 million guests, an increase of 7 million (13 percent) compared to the prior year. Revenues in 2023 increased by 8 percent to £2.1 billion.
Last year, revenues were up 23 percent year-on-year to £748 million across Merlin’s Gateway attractions. Revenues within Legoland parks were up by 1 percent compared to 2022. In Merlin’s resort theme parks, revenues increased by 2 percent to £453m.
“In 2023, Merlin Entertainments began a significant transformation, setting a new strategy, assembling a diverse and dynamic leadership team, and investing in capability building to position Merlin for the next phase of growth,” said Scott O’Neil, Merlin’s CEO.
Merlin’s visitors in 2023 reported “the highest levels of guest satisfaction in Merlin history”, O’Neil said.
He continued, “We intend to continue our growth momentum by driving an increasingly premium position at Legoland resorts, making calculated investments in resorts with outsized potential, and growing our Gateway attractions division, strengthening our presence through ‘mega-clusters’ in the world’s most important tourist cities that show long-term visitation growth.”
Speaking of mega-clusters, Merlin has announced the acquisition of the Wheel at Icon Park, which is the tallest observation wheel on the East Coast of the US.
Merlin investing in “mega-clusters”
The Wheel, now called the Orlando Eye, is located by Merlin’s Sea Life aquarium and Madame Tussauds sites at Icon Park.
“Today’s acquisition of the Orlando Wheel in the vitally important tourist hub of Orlando demonstrates this new Gateway strategy in action and serves to replicate our successful London Gateway formula, whereby we have clustered four of our branded attractions alongside the iconic anchor that is the London Eye,” said O’Neil.
“Similarly, the Orlando Eye by Merlin Entertainments will become an unmissable stop on visitors’ itineraries, connecting guests to our wider portfolio of premium attractions and resort theme parks in and around Orlando, including the Sea Life Orlando Aquarium, Madame Tussauds Orlando, and Legoland Florida Resort and Peppa Pig Theme Park.”
Images courtesy of Merlin
