Jump to content

Recommended Posts

So financial results for 2011-2012 have recently been released and I thought I'd make this topic as a stub for discussion when future results are released as well. Ardent Leisure on the whole improved but the theme park division suffered immensely. Revenue dropped 7.7% as a result of a 21.8% drop in attendance. The company blames this on the rainfall that the coast has received during the holiday periods. Their outlook mentions the destined for December this year. Full results presentation is available here. Village Roadshow also had a drop in profit for its Gold Coast parks ($33.2m to $29.3m) which could be partially attributed to a slight decrease in attendance of 300,000. The US water parks are looking like they will make a profit in the next financial year, settling with a loss of $800,000 this year. They report the best ever launch for the VIP pass this year and plan to spend between $25 and $30 million this financial year on the parks. Also, Wet'n'Wild Sydney is still scheduled to open in December next year. Full results presentation is available here. Below is an article from the Gold Coast Bulletin about the results:

New attractions keep numbers up at parks A $40 MILLION spending spree by Village Roadshow kept people flowing through the gates of its three Gold Coast theme parks last financial year. But it was not such a good year for its rival, Ardent Leisure, which had a 21.8 per cent drop in numbers at its three Coast attractions. Almost 600,000 fewer people visited Ardent Leisure's Dreamworld, White Water World and the Skypoint attraction last year compared to the year before. The park operator blamed bad weather in peak periods and the decision to issue fewer discount park passes for the decline. But the numbers were released on the same day that Village Roadshow reported much better attendance figures for Warner Bros Movie World, Wet'n Wild and Sea World. Village Roadshow local boss Bob White said the $40 million investment in attractions and success of the VIP pass had kept numbers up. "We feel that it is critical to continue to invest, especially in an environment where you have repeat visitation," he said. "The VIP pass has been great for us but we need to keep our parks as fresh as possible as well." Mr White would not reveal the exact number of park goers but said the figures were slightly less than the year before. "We feel pretty good about the result, given the weather conditions," he said. The same was also true for Village Roadshow's overall earnings before tax from the Gold Coast parks, which dropped $800,000 to $82 million. Village Roadshow is intending to sink another $30 million into its Coast parks this year, with new attractions including the Justice League Alien Invasion ride, which opens at Movie World next month, the Constrictor Water Slide, which opens at Wet'n'Wild next month, and Dinosaur Island, which opened in July. Another attraction is also planned for Sea World later this year but Mr White would not reveal any details. Ardent Leisure spent just $13 million on its three Coast attractions last year by comparison and most of that went on the $10 million Dreamworks precinct for Dreamworld. Ardent Leisure CEO Greg Shaw said the company was happy with how the business was being managed, despite the result. "The thing I am most unhappy with is the rain," he said. "During the peak trading periods we actually traded ahead of expectations when it wasn't raining." The Gold Coast recorded 1249mm of rain for the second half of the financial year, which is up from 696mm from the year before. Mr Shaw said the result for the theme parks improved in July, when it was up 1.7 per cent to $9.8 million. The major attraction Ardent plans to open this year is the Kung Fu Panda thrill ride at Dreamworld. The theme park attendance numbers came out in the same week that Gold Coast Airport released its passenger numbers for July. They showed a 10 per cent jump in numbers -- an indication things could be turning around for tourism.

http://www.goldcoast...t-business.html Thoughts?
Link to post
Share on other sites

I think this proves that new and exciting rides bring people through the gates, simple as that. Dreamworld have failed to compete with Village Roadshow and the figures show that.

. i don't think so. Dreamworlds profits have gone down but when you look at Village Roadshows the percentage of loss is very similar Edited by casey96
Link to post
Share on other sites

The number Ardent focus on for results is the EBITDA which is not a similar percentage loss. Ardent is at -10.4% on last year, Village works out to be around -0.97%. The figures do show investing in the wrong attractions has cost them and it is not the weather at fault. Buzzsaw and fine weather will not combat this drop. If Buzzsaw was to help turn the numbers around it would have done so already. The very simple fact is Village compared to Ardent are putting in attractions the public are interested in and combined with a VERY solid pass promotion scheme and branding they are getting results they are after. If Ardent want any hope of turning things around it will take more than Kung Fu Panda area and sunny weather they mention in the report to do so. Any hope of bringing back the thrill seekers to the park will require a large investment in a world class signature coaster (think Gatekeeper, The Outlaw, etc.). This is also an area they are lacking compared to Movie World. They have four thrill coasters with at least two they can be proud to have. One other thing I get from the reports is Village are showing more pride in their parks than Ardent. Village lead their report breakdown with their theme park operations whereas Ardent leave it to last.

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    No registered users viewing this page.

  • Trending Topics

  • Similar Content

    • By BringADecentParkToSydney
      Not sure if this has been discussed,
       
      But does anyone else think that Village Roadshow should sell Sea World to 'Sea World Theme Parks & Resorts'? And if so, does anyone actually know the chances of it actually happening?
      The park seems to have gotten worse over the years and it's honestly just sad, so I'm hoping that a decent company could make it 'good' again.
      Plus if they did sell it, then it could help Village pay off debt. After all, they sold Wet'n'Wild Sydney, so what harm could selling Sea World do?
       
      (By the way - if this has been discussed before then can someone please just link me to the thread?)
    • By FoolishMortal999
      The maze that is taking over the shed where FDTD used to be is Leatherface (2017). As you're going up the lift hill on AA, Look to your right where the shed is and there is a sign that says Sawyer Farm out the front. 

    • By New display name
      CLARK Kirby’s career has come full circle since, as a child, he helped clean the cinema of his then-fledging family business Village Roadshow.

      Village Roadshow commenced operating in 1954, owning and managing one of the first drive-in cinemas in Australia in the Melbourne suburb of Croydon.

      “I have a long history with the theme parks her — my grandfather Rock Kirby started Village Roadshow, back in 1954 in Victoria, the drive-in cinema down in Melbourne.

      “Entertainment is well and truly in the blood. My original background was in the cinema industry — I like to say I worked there when I was four years old when I started to clean the amusement rides down at Sorrento.

      “I worked every school holidays for the family in the cinema we had down there.

      “Then I completed one degree up here at Bond University and then went on to study at a number of other universities and ended up in investment banking associate director of mergers and acquisitions with UBS Investment

      “It was a great opportunity because I advised a lot of entertainment companies here in Australia — including PPL, Channel 7, News Corp.

      “It gave me a broadbased understanding of different business models and management styles within the entertainment world, some incredible companies.

      “It was very diverse, and very interesting trying to impart advice.

      “Then I came back and headed up corporate strategy for the group then since 2012 I’ve been chief operating officer of the Village Roadshow Group and sitting on the board of the theme park group.

      “In May this year I assumed the role of CEO and executive chairman of the theme park group.

      “Really because we do see it as our most important business and a business we see enormous growth in here and internationally.”

      What do you love about the Gold Coast?

      “I don’t believe there is any city in the world that can rival the family friendly lifestyle we enjoy here on the Gold Coast.

      “The weather and sublime beaches promote a healthy lifestyle and world class attractions mean kids and big kids will always be entertained and inspired.

      “I am also in awe of the incredible sense of pride and community spirit of the Gold Coast.

      “Initiatives like the Gold Coast Community Fund have been so generously embraced by locals wanting to help out those doing it tough.”

      What do you think can be done better on the Gold Coast?

      “We need to ensure there is sufficient planning and investment in essential infrastructure such as public transport and traffic management to deal with the existing congestion and to support and encourage private investment and development.

      “Coming from Melbourne, I have also seen the incredible power of sporting events to drive tourism and investment.

      “The Commonwealth Games is already electrifying the city and I would like to see a sustained calendar of major sporting events through the year.”

      In your travels, what have you seen being done elsewhere you think could work well here?

      “Universal City Walk and Downtown Disney are great success stories.

      “These retail, dining and entertainment precincts create a vibrant, fun and safe destination for all ages.

      “We are moving towards creating our own version of this alongside Movie World when Australia’s first Topgolf opens after the Commonwealth Games next year.”

      If money, laws, time and approvals were no issue, what is one big project you’d undertake tomorrow?

      “A cruise ship terminal — provided it meets all environmental requirements and the appropriate traffic mitigation solution is implemented, a cruise ship terminal would be phenomenal for the Tourism industry on the Gold Coast.”

      What conversations should Gold Coast movers and shakers be having?

      “We need to consider what our city is going to look like in five, 10, 20 years. Is our infrastructure going to be able to keep up with rate of growth predicted for the Gold Coast?

      “Where are the jobs going to come from and are we providing our kids with the relevant training and opportunities to succeed?

      “The long term future for the Spit is another important issue for me — there is so much uncertainty around development on The Spit.

      “We desperately need a masterplan to ensure that any development includes sufficient investment in infrastructure to ensure residents and existing businesses are not negatively impacted.

      “In the more immediate future, we need to ensure that we fully capitalise on the incredible exposure the Commonwealth Games will bring to the Gold Coast.”


      http://www.goldcoastbulletin.com.au/news/opinion/village-roadshow-ceo-says-gold-coast-is-golden-but-needs-to-keep-up-with-the-rest-of-the-world/news-story/796eedbff960121e90826c41e46f17ee
       
    • By Jackson13Walasek
      Village Roadshows new video talks about the medias false news about its ride stoppages 
       
       
       
    • By WillowTree64
      Hi there! I haven't visited the gold coast since 2010, and I'm thinking about returning for a trip later this year in December. Could somebody please offer a quick summary of the current state of the parks there? I'm specifically interested in Dreamworld/White Water World, Warner Bros. Movie World, Sea World and Wet n Wild. Those are the parks I'm most familiar with, but I'm sure there's way more worth visiting on/around the coast. So if you could offer what your experiences have been like recently, it would be very much appreciated. What's the best? What's the worst?
      Looking into other forum posts, and the recent news articles - I've got the feeling Village Roadshow Parks isn't doing so hot lately. But maybe I'm mistaken on that, what do you think? 
      Thank you for your time. 
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use. We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.