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SeaWorld To Reopen 3 Parks After Shares Hit A New High This Week

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SeaWorld To Reopen 3 Parks After Shares Hit A New High This Week

SeaWorld Entertainment Inc (NYSE: SEAS) announced Friday its Orlando, San Antonio and San Diego amusement parks are now open.

What Happened: As of Friday, guests are welcome back to all three SeaWorld parks. The parks will be operating with extended hours and with enhanced health and safety protocols in place to offer visitors a safe experience. Guests will be able to experience animal interactions, presentations and exhibits, as well as enjoy roller coasters and other rides at most locations. ("SeaWorld San Diego is operating in compliance with state safety guidelines for zoos. Rides, rollercoasters and indoor animal exhibits are temporarily closed at this time due to current State of California COVID-19 guidelines," noted the press release.)

Why It Matters: When SeaWorld reported fourth-quarter and full-year earnings on Feb. 25 it was apparent how much the entertainment company has suffered throughout the COVID-19 pandemic.

Total revenue for fiscal 2020 declined $866.5 million year-over-year because of the 16.3 million fewer guests who visited the parks.

Despite the loss, SeaWorld reported positive adjusted EBITDA for its fourth-quarter and things seem to be turning the corner as states continue to reopen and people begin to travel again.

“Our pricing and product strategies are working, and our guests are spending when they visit our parks,” said Marc Swanson, interim CEO at SeaWorld Parks & Entertainment, in the earnings release.

Investors appear to agree and shares of the company hit a high of $50.90 following the release.

What’s Next: Date-specific reservations are required and tickets must be purchased online in advance to allow for the parks to manage capacity limits.

SeaWorld has a number of special exhibits and live entertainment lined up at each of the parks, including Vanilla Ice in concert at SeaWorld Orlando March 13, Sesame Street Kids Weekends at SeaWorld San Diego in May and June, and Fiesta Del Mar running from August to September at SeaWorld San Antonio.

“Our Ambassadors have done an excellent job evolving our operations to allow our guests to enjoy the amazing experiences they expect from SeaWorld, in a safe environment. And we're just getting started,” Swanson said.

(Photo: SeaWorld Orlando courtesy SeaWorld)

 

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