NEWS
SeaWorld continuing with Chinese expansion plans despite domestic woes
POSTED 10 Aug 2017 . BY Tom Anstey
Despite recent setbacks in its latest earnings report, SeaWorld continues to move forward with its Chinese expansion plans following its partial acquisition by Chinese investment firm Zhonghong Zhuoye Group (ZZG) earlier this year.

Purchasing a 21 per cent stake of SeaWorld in March, ZZG and SeaWorld outlined their intention to design and develop future themed entertainment destinations, including theme parks, waterparks and FECs, in China, Taiwan, Hong Kong and Macau.

In its most recent earnings report, SeaWorld revealed it was not happy with results for the quarter, with plans to further slash costs while attempting to reshape itself following several years of turmoil.

Speaking during an earnings call, CEO Joel Manby said this action, however, would not affect the company’s long-term development plans.

“We're still moving forward in China,” he said. “We have light design work going on, but, really, it's a three-year study to figure out what is our process, what is our priority in China. We're looking at both FEC and theme park, and that's all actively ongoing. We hope to have an official agreement similar to what we had in Abu Dhabi as soon as possible.”

As part of the share purchase deal, two ZZG executives have joined SeaWorld’s board of directors. They are Yoshikazu Maruyama, president of the firm’s US operations, and chief strategy officer Wang Yongli, who has experience in global themed entertainment and business development in China.

“They're extremely good board members,” said Manby, commenting on the appointments. “They are very engaged and they want to see SeaWorld do well, and not only in the United States but also in China.”
 


ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2017

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS
 
Leisure Management - SeaWorld continuing with Chinese expansion plans despite domestic woes...
19 Aug 2017 Leisure Management: daily news and jobs
 
 
HOME
JOBS
NEWS
FEATURES
PRODUCTS
FREE DIGITAL SUBSCRIPTION
PRINT SUBSCRIPTION
ADVERTISE
CONTACT US
Sign up for FREE ezine
Latest news

10 Aug 2017

SeaWorld continuing with Chinese expansion plans despite domestic woes
BY Tom Anstey

SeaWorld's Chinese ventures have already been confirmed not to have orcas, along with any other future parks it develops

SeaWorld's Chinese ventures have already been confirmed not to have orcas, along with any other future parks it develops

Despite recent setbacks in its latest earnings report, SeaWorld continues to move forward with its Chinese expansion plans following its partial acquisition by Chinese investment firm Zhonghong Zhuoye Group (ZZG) earlier this year.

Purchasing a 21 per cent stake of SeaWorld in March, ZZG and SeaWorld outlined their intention to design and develop future themed entertainment destinations, including theme parks, waterparks and FECs, in China, Taiwan, Hong Kong and Macau.

In its most recent earnings report, SeaWorld revealed it was not happy with results for the quarter, with plans to further slash costs while attempting to reshape itself following several years of turmoil.

Speaking during an earnings call, CEO Joel Manby said this action, however, would not affect the company’s long-term development plans.

“We're still moving forward in China,” he said. “We have light design work going on, but, really, it's a three-year study to figure out what is our process, what is our priority in China. We're looking at both FEC and theme park, and that's all actively ongoing. We hope to have an official agreement similar to what we had in Abu Dhabi as soon as possible.”

As part of the share purchase deal, two ZZG executives have joined SeaWorld’s board of directors. They are Yoshikazu Maruyama, president of the firm’s US operations, and chief strategy officer Wang Yongli, who has experience in global themed entertainment and business development in China.

“They're extremely good board members,” said Manby, commenting on the appointments. “They are very engaged and they want to see SeaWorld do well, and not only in the United States but also in China.”



Connect with
Leisure Management
Magazine:
View issue contents
Sign up:
Instant Alerts/zines

Print edition
 

News headlines
Global Wellness Summit 2017 to include industry leaders roundtable workshop
Global Wellness Summit 2017 to include industry leaders roundtable workshop   18 Aug 2017

Set to feature more than 50 speakers and a number of workshops, the Global Wellness Summit (GWS), a leading conference in the wellness industry, has .... more>>
Construction begins on London music venue linking culture and Crossrail
Construction begins on London music venue linking culture and Crossrail   18 Aug 2017

Construction is underway on two new live music venues and a leisure-filled “urban gallery” in central London, designed by British architects Orms. .... more>>
Basic-Fit on track to open 100 gyms this year
Basic-Fit on track to open 100 gyms this year   18 Aug 2017

European low-cost gym chain Basic-Fit is on target to open 100 clubs this year after it reported revenue growth of 26 per cent in the first six months .... more>>
Ritz-Carlton New York partners with Antica Farmacista for signature scent
Ritz-Carlton New York partners with Antica Farmacista for signature scent   18 Aug 2017

The Ritz-Carlton New York, Central Park has introduced a new aroma, 50 Central Park, as well as two new signature spa treatments at its La Prairie .... more>>
Avant-garde artist Yayoi Kusama to open eponymous museum in Tokyo
Avant-garde artist Yayoi Kusama to open eponymous museum in Tokyo   18 Aug 2017

Yayoi Kusama – the Japanese artist famed for her use of repetitive patterns and bold colours – has announced the opening of her own art museum, in .... more>>
DCMS introduces £15m cultural regeneration fund as part of Great Exhibition of the North
DCMS introduces £15m cultural regeneration fund as part of Great Exhibition of the North   18 Aug 2017

Culture and tech projects in the North of England will soon be able to bid for a slice from a £15m (US$19.3m, €16.5m) funding pie, with a new fund .... more>>
Company profile


Syx Ticketing

Syx Automations was established in 1990.

View full profile>>

Catalogue gallery


Featured Supplier

The all new Expresso GO Bike raises the bar for indoor cycling

The all new Expresso GO Bike raises the bar for indoor cycling

Cardio equipment is generally the largest expense that a club makes, but it is often hard for operators to quantify their return on investment. More>>




in this issue

• Eden Project plans global expansion
• Celebrity trainer sells Rush Fitness gyms
• Malhotra Group completes hotel revamp



Latest jobs

Jobs Search



Swim Instructors
Salary: £13.00 per hour
Location: Bexleyheath, United Kingdom
Company: Parkwood Leisure
Personal Trainers
Salary: 100% of your PT earnings
Location: Newcastle City, United Kingdom
Company: The Gym Group
Personal Trainers
Salary: 100% of your PT earnings
Location: Southampton Central, United Kingdom
Company: The Gym Group
Diary dates
Powered by leisurediary.com




19 Aug 2017

teamparkrun

UK Wide,



Leisure Management magazine 2016 issue 1
Leisure Management
2016 issue 1

View issue contents
View on turning pages
Download PDF
  Sports: Play to the crowd
When public sector budgets are tight, crowdfunding is an attractive option More>>
  New opening: Future of leisure
Selby Summit focuses on activity, not sport. Is it a new era for leisure centres? More>>


Leisure Management magazine 2015 issue 1

Leisure Management
2015 issue 1

View issue contents
View turning pages
Download PDF
  Trends: Magnus Lindkvist
The Dutch futurologist explains why the coming decade will bring huge changes for the fitness industry More>>
  Hospitality: Watching your waste
Kath Hudson checks out the trailblazing cafés using leftover food to feed their customers More>>


Published by The Leisure Media Company Ltd Portmill House, Portmill Lane, Hitchin, Herts SG5 1DJ. Tel: +44 (0)1462 431385 | Contact us | About us | © Cybertrek Ltd