United Parks & Resorts, formerly SeaWorld Entertainment, has reported its financial results for the fourth quarter of 2023 and the full fiscal year.
In the final three months of 2023, SeaWorld theme parks welcomed a record 5 million guests, an increase of around 23,000 visitors compared to the fourth quarter of 2022.
However, total revenue was $389 million, a decrease of $1.6m from the fourth quarter of 2022. Adjusted EBITDA was $150.4m, a decrease of $3.2m from the Q4 2022.
United Parks & Resorts reported 21.6 million guests in 2023, a decrease of 1.5 percent from 2022. Total revenue dropped by $4.7m to $1,726.6m, and net income was down $57m to $234.2m. Adjusted EBITDA also decreased by 2 percent to $713.5m.
In a statement, Marc Swanson, CEO of United Parks & Resorts, once again attributed declines in theme park attendance and revenue to adverse weather.
“We estimate that weather-related and calendar shift impacts reduced attendance by approximately 75,000 visits in the fourth quarter and that weather-related impacts reduced attendance by over 370,000 visits for the full year,” he said.
Swanson continued: “Our attendance levels for fiscal 2023 were still below levels achieved in 2019, primarily due to a decline in international and group attendance, which we are confident will recover to and surpass pre-Covid levels.
New attractions at SeaWorld parks
“We are also still more than 3 million visitors below our historical high attendance of approximately 25 million guests achieved in 2008.”
Several new attractions and experiences are coming to SeaWorld parks this year, including the new Penguin Trek coaster at SeaWorld Orlando, a jellyfish experience at SeaWorld San Diego, and Catapult Falls at SeaWorld San Antonio.
In the earnings statement, Swanson confirmed that “our new rides and attractions are all currently scheduled to open before the peak summer season”.
Images courtesy of United Parks & Resorts
