SeaWorld Entertainment has officially released the full-year earning for 2016, and the numbers are overwhelmingly negative. The fourth quarter of the year showed a decrease in revenue and attendance, which SeaWorld attributes to two factors: Over a day’s worth of park closure in Orlando due to Hurricane Matthew, and an expected drop in visitors from Latin America.
Full-year earnings show a net loss of $12.5 million for 2016. Attendance and revenue both decreased, with annual passholder visitation dropping by double digits during the first two quarters. Spending per visitor increased slightly, raising from $61.01 to $61.10 per person; although paying less for tickets, guests made up the difference by spending on food, products, and “Quick Queue” access.
SeaWorld cites weather, competition, and an overall slow tourism season for Orlando as the factors leading to its drop in attendance of 2% this year. To explain the 18% drop for annual passholder visits in the first half of the year, SeaWorld stated that a lack of discounts was the primary reason. In the second half of the year, after offering new promotions, passholder attendance grew 4%.
Fourth quarter revenue was $267.6 million for its 12 parks, as compared to 2015’s fourth quarter revenue of $267.9 million. A net loss of 14 cents per share was reported as well, as opposed to 2015’s loss of 13 cents per share.
Source: The Orlando Sentinel