VILLAGE Roadshow Limited (VRL) today reported a 37% increase in pre-tax earnings, with the result reflecting a particularly strong recovery in its Theme Parks division over the last 12 months.
The company noted the success of a “high yield ticket strategy” which reflects the ongoing trend for guests to pay for high-quality experiences.
“There is a worldwide phenomenon of people increasingly seeking ‘experiences’ more than ‘things’, which plays to the strength of VRL’s expertise and portfolio of assets,” the company said.
Marketing activity had focused on reinvigorating the fashion of visiting theme parks, with the teen market activated through a commercial showcasing the DC Rivals HyperCoaster and families attracted through a partnership with popular Queensland athlete Sally Pearson.
VRL also noted the success of Aquaman – The Exhibition, its reimagined Scooby Doo roller coaster and the evolution of the Australian Outback Spectacular which ensured there was “always something to talk about” without extensive capital expenditure.
The current financial year also started strongly, with record attendances in Jul driving higher in-park spending.
VRL theme parks include Warner Bros. Movie World, Sea World and Wet’n’Wild Gold Coast, with the division recording a $12.9m profit – a big turnaround from last year’s $24.4m loss.
Source: traveldaily