PRODUCT NEWS
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| Revenue falls at Ardent's theme parks |
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| 19 Feb 2010 . BY Tim Nash |
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Ardent Leisure, owner of Dreamworld theme park and Whitewater World waterpark in Queensland, Australia, saw revenue and earnings at the parks fall in the second half of 2009 as international and interstate visitor numbers fell.
The parks reported total revenues of AUD$54.3m (US$48.4m, £31.4m, €35.9m) a 4.7 per cent fall year on year, and earnings down 5 per cent to AUD$21.5m (US$19.2m, £12.5m, €14.2m).
Ardent's CEO, Greg Shaw, said: "During the period, the theme parks generated strong Queensland attendance - up 22.4 per cent - driven by a successful annual World Pass promotion.
"Lower interstate patronage reflected more cautious spending by domestic visitors to the Gold Coast and aggressive competitor discounting. Global economic conditions also saw a decline in international visitations from traditional growth markets of China and the boarder Asian region."
January this year saw park revenues of AUD$12.7m, (US$11.3m, £7.4m, €8.4m) down 9.6 per cent on January 2009.
The company said it expects discounting in the local market to continue but is planning to unveil a new water thrill ride and family attraction in time for Easter this year.
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