Six Flags CEO John Duffey has his sights on expansion overseas
When CEO John Duffey took the reins at Six Flags early this year, things were in great shape. Last year marked the company’s sixth consecutive year of record performance and during that time more than US$2bn (€1.8bn, £1.4bn) was returned to shareholders.
The success is due to its regional parks – 16 in the US, one in Mexico and one in Canada. But now, Six Flags is heading East.
“Developing Six Flags parks in various parts of the world is part of our long-term growth strategy,” Duffey told
Attractions Management. “Given the global strength of the Six Flags brand, we believe we have tremendous growth opportunity to partner with other firms that are interested in building Six Flags-branded theme parks in markets outside North America.”
“There is growing interest from other countries who want to be a part of our signature brand of thrills and innovation,” he said.
The operator – the world’s fifth-largest, seeing an overall attendance increase of 11.4 per cent in 2015 to 28.5 million – is about to break ground on its first Six Flags in Asia. Six Flags Haiyan, not far from Shanghai, China, is the first step in the plan to build “multiple” Six Flags in China in the next 10 years, all in partnership with real-estate developer Riverside Investment Group.
Plans for
theme parks in Dubai and in
Vietnam have also been announced.
“China is an excellent market and one that has the potential to support multiple Six Flags-branded parks," added Duffey.
"Dubai is an emerging entertainment destination with incredible potential and Vietnam is another exciting market where we believe the brand will be well-received. All of these markets have large populations with growing disposable incomes, strong economies and a void of entertainment similar to what Six Flags offers."
A franchise model is set to support the upcoming parks, sending a clear signal that Six Flags is committed to potentially unlimited expansion abroad.
“We have an operating model that works and our international properties will follow that model, but these parks will be also tailored to their specific region. The theming, the shows, along with the food and retail offerings will reflect the customs and cultures of the local markets,” Duffey said.
To read the full interview, see the new edition of Attractions Management, out now.
