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Theme Parks: The Thrills Continue to be Record Breaking

Thomas Paulson
Sep 9, 2022
Theme Parks: The Thrills Continue to be Record Breaking

  • At the Bank of America investor conference this week, Disney’s Head of Parks Josh D’Amaro shared, “Our demand pipeline looks robust. We have mechanisms to look at demand. Bookings of our hotel rooms...remains very, very strong. We keep launching new initiatives to keep attention high and demand coming at us…[G]uests can't get enough of that, and we continue to launch new products. We just launched a brand-new coaster in Epcot. The demand profile that [we talked about early August remains] the same."
  • At the same event, Comcast's Jason Armstrong shared a similar view on Universal, “Domestic attendance is strong, but international is still lacking. And so that's an additional future driver. There was some concern at some point, the gas prices limit sort of domestic travel and attendance. I don't think we've seen that. Attendance trends have been strong. Per cap trends have been strong. The message on the domestic parks is business as usual from what we saw in the second quarter, which is pretty great.
  • Cedar Fair positively pre-announced 3Q22 results with CEO Dick Zimmerman saying, “We are very pleased with our record results and expect continued outperformance driven by our extremely popular Halloween celebrations, which are set to debut in just a few short weeks. Despite weather challenges in several key markets, particularly over this past weekend, our operating trends have been consistently strong throughout the peak summer months, with performance during the critically important period between the Fourth of July and Labor Day in line with our expectations. As attendance channels recover to pre-pandemic levels, record in-park per capita spending and out-of-park revenues are driving double-digit top-line growth as planned."

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Thomas Paulson

Director of Research and Business Development, Placer.ai

Thomas Paulson spent 20 years as a Wall Street analyst and a member of asset management teams at AllianceBernstein and Cornerstone Capital, representing top-50 ownership positions including Target, Home Depot, Nike, Amazon, Google, and many more.

He brings consumer related expertise and knowledge of enterprises in retail, CPG, financial services, telecom, and entertainment.

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