The number of visits during the third quarter of this year amounted to 501,000 with 5% growth compared with the same period last year, while the number of visits during the first nine months of the year amounted to 1.96 million visits, an increase of 33% compared with the same period. last year.
The company reported a turnover of AU 392 million during the first nine months of 2018, compared to AED 395 million for the same period last year.
Operating profit decreased due to good cost management, down 23% compared to third quarter, while losses for the nine months 2018 were 51% lower than the same period in 2017.
"The third quarter of the year is one of the longest periods of the year due to the warmth of the weather during these months. However, the company achieved an increase of 5% compared to the third quarter of 2017 and 33% for nine months," said Mohamed Sulaiman Al Mulla, President and CEO. Compared to the same period last year.
The occupancy rate at La Pita Hotel is 59% compared to a 30% occupancy rate during the first nine months of 2018. This growth reflects increased awareness of the local and international market in Dubai Parks & Resorts.
"On the business idea, we focused on achieving a cash after a 51% improvement over the first nine months, with operating losses of AED 173 million, compared with AED 353 million for the same period last year."
Revenues for the third quarter of this year amounted to AU 103 million, of which the recreation parks' revenues amounted to 67 million of total revenues. Hospital income amounted to 19 million of total income.
Retail sales were 5 million, ticket sales accounted for 70% of total recreation park revenue and entertainment revenue was 27%.
Good cost management led to a reduction in operating expenses, which decreased during the third quarter to reach AED 176 million, compared with 188 million in the previous quarter and a decrease of 28 million compared with the third quarter of 2017.
"We have set a goal to focus on attracting traffic and have succeeded through a marketing and sales strategy that has led to growth of 33 percent," Mulla said. In the future, it is now a focus on increasing international visits to our leisure parks as one of the most important growth factors. "
"The company has signed several strategic agreements with Dubai Airports, the Emirates Airline and Roads and Transport Authority to help attract tourists to recreation parks in the coming period." Direct Market Initiatives aim to increase visitors' awareness of leisure parks in the most important international markets. "
"There is a further improvement area for the company, namely the improvement of sales. Prior to the winter season, new ticket prices began to increase revenue from ticket sales. We also focus on increasing amusement park expenses, which is one of the areas of increased revenue, so we have undergone extensive restaurants and shops to explore opportunities for improvement.
Improvements have been launched at Bollywood Parks Dubai, where 11 entertainment stories, including popular reviews and cultural performances inspired by Bollywood films, have been launched. The price of the ticket contains all these offers and improvements will be completed in the first half of 2019.
In accordance with the Board's directive, the company's management team evaluates the Company's capital plans, including future projects, including Six Flags Dubai, to determine the time interval and potential options in the light of current demand. The result of this review will be presented to the Board by the end of the year. We can see an impact on the opening date of Six Flags Dubai.