Writer: Jerrica DuBois
2 min read November 2022 — Nearing the three-year mark of the beginning of the pandemic, it’s not surprising that the tourism industry has taken a huge hit. A lot of the conversation has surrounded restaurants and hotels, but theme parks and attractions have also struggled to find their footing. While some attractions are back to relative normalcy and out of the red, others are still fighting to improve attendance and stay in the black.
The fight for visitors isn’t lost on Tim Morrow, president and CEO of the San Antonio Zoo. “One of our blessings and challenges at the same time is that we are in a major city with two major theme parks,” he told Invest:. “San Antonio in general has a lot of competition for leisure time with the two theme parks, the zoo, the Alamo, great museums and the Riverwalk.”
The parent company of SeaWorld San Antonio and Aquatica theme parks, SeaWorld Entertainment Inc., appears to be on the upswing. Last week, the organization reported a net income of $134.6 million for the third quarter, setting a new company record. This also highlights the level of bounce back from the pandemic, touting a $36.5 million improvement over the same three-month period in 2019.
SeaWorld also set records for total revenue and per capita spending for the quarter. Attendance numbers reached over 7 million, setting the stage for a total revenue of $565 million. Per capita spending also increased to over $77.
The past few years were not short of challenges, as the company has faced criticism from animal rights activists, the pandemic and a good amount of financial debt. But as one of San Antonio’s largest attractions, its turnaround is a key milestone for the city, which has put heavy emphasis on leisure travel since the pandemic. The park has also set itself up as a hybrid option by adding more traditional rides and features instead of relying so heavily on marine performances.
If attendance numbers are the measure, Six Flags Fiesta Texas is not faring quite as well. With their recently released third-quarter figures, 4 million fewer guests visited the amusement park this year than in the same quarter in 2021. Since the beginning of 2022, total attendance is down by 5.5 million customers.
Inevitably, decreased attendance at Fiesta Texas also leads to decreased revenue, which fell 21% to $505 million for the third quarter. The net income of $116 million for the quarter was a 26% decrease from 2021. According to leadership, increased ticket prices and the decision to cancel free and heavily discounted tickets was the spark to the drop in attendance.
Fiesta Texas could also be feeling the pressure from the local competition. SeaWorld has upped the ante with its upgrades to more traditional attractions, and according to Morrow, the San Antonio Zoo has 20 years of expansion and improvements planned. Six Flags, however, has invested in its San Antonio property. Dr. Diabolical’s Cliffhanger, the latest roller coaster at Fiesta Texas, opened earlier this year with hopes of getting guests back to the park.
The third-quarter report for Fiesta Texas did reveal a 17% increase in per capita spending among its guests, and admissions spending per capita was up 22%.That is a positive sign amid inflation that not only impacts consumer spending but also the cost of operations for area attractions.
“We do see increases just like everyone else,” Morrow told Invest:. “Everyone talks about the price of food at the grocery store that’s going up. The price of our animal food is going up as well. So, we do see that impact and we are constantly looking at budgets and adjusting it and trying to keep attendance up.”
For more information, visit:
