TJS Services is a leading national facility services provider. We deliver quality cleaning, maintenance, construction and facility management services to over 1,500 sites Australia wide. Our…read more
Ardent Leisure raises Dreamworld ticket costs
Following Village Roadshow's decision to move away from ticket discounting for its Gold Coast theme parks, Ardent Leisure is to raise the cost of entry at its Dreamworld and WhiteWater World attractions.
Having recently announced $50 million of investments in new rides, Ardent is anticipating rising interest in its Gold Coast parks and, while visitor numbers may well fall with the increased ticket cost, it will be looking for overall guest yield to rise.
Currently experiencing ongoing steady rises in visitor numbers, Dreamworld’s was recently described as “inferior” to its competitor theme parks by Citi analyst Sam Teeger said in a note to clients.
Teeger’s analysis also indicated that findings from the Coronal inquest into four guest deaths at Dreamworld in 2016 - which are expected to be released before the end of the year - could also hurt attendance numbers while indicating that Ardent would have been advised to delay the ticket price rise.
Teeger advised “we would prefer to see Dreamworld raising prices once its new $30 million steel rollercoaster is completed in calendar year 2021.”
Citi’s ticket price analysis found the pricing gap between Dreamworld and rival Village Roadshow’s theme parks had significantly narrowed. Dreamworld’s new adult annual pass is now between 7 and 12% cheaper compared to Village’s pass, which includes access to Movie World, Sea World and Wet’n’Wild.
Previously the price gap between annual tickets of the two theme park groups was between 13 and 14%. Citi also noted Dreamworld’s one-day pass was more expensive than similar tickets at Village, though it provided access to Dreamworld and WhiteWater World, compared to just one park at Village.
Ardent Leisure's recently released 2018/19 figures showed its losses for the year narrowed to $60.9 million in the year to June as increased spending on safety, repairs and maintenance and a higher tax bill more than offset higher revenue from new US entertainment centres and theme parks including Dreamworld.
Ardent's net loss marked an improvement on the prior year's $90.7 million figure, due largely to a $75 million devaluation it suffered a year earlier on its Dreamworld-centred theme parks division. An increase in revenue from continuing operations lifted the company to EBITDA earnings of $11.7 million from a loss of $54 million in 2018.
The 2018/19 report confirmed that the Coronial hearing had impacted visitor numbers, advising “the current year continued to be impacted by challenging post-incident trading conditions for the Theme Parks business, associated costs due to Coronial Inquest hearings, non-recurring restructuring costs, as well as further impairment charges at the previously impaired US centres.”
The company also said it was close to completing a master plan for its Gold Coast site setting out its footprint for future theme park development and showing land that could be made available for commercial development.
Lower image shows Dreamworld's new Mack Blue Fire Launch coaster.
27th September 2019 - Details revealed of WhiteWater World’s new waterslides
27th August 2019 - Ardent Leisure looks to shrinking of Dreamworld’s footprint for development
23rd August 2019 - Dreamworld’s long-awaited Sky Voyager takes flight
9th August 2019 - Dreamworld looks to recruit for the upcoming holiday season
13th May 2019 - Dreamworld Tiger Cubs make first public appearance
27th August 2018 - Dreamworld looks to attract visitors with entry fee drop and LEGO exhibition
29th November 2017 - Village Roadshow moves away from low cost theme park passes
20th January 2016 - Growing importance of memberships to Gold Coast theme park revenue
19th January 2016 - Fine weather boosts performance of Gold Coast theme parks
4th January 2016 - Dalian Wanda’s Gold Coast theme park plan would hit existing attractions
13th June 2012 - Dreamworld looks to added value with annual pass
29th October 2011 - Price war hits revenue at Ardent attractions
Support our industry news service
We hope that you value the news that we publish so while you're here can we ask for your support?
As an independent publisher, we need reader support for our industry news gathering so ask that - if you don't already do so - you back us by subscribing to the printed Australasian Leisure Management magazine and/or our online news.
Click here to view our subscription options.
The Complete Guide to Leisure Industry Products & Services.
Compliant chemical storage and decanting solutions. Includes spill kits, spill containment pallets, chemical decanting decks and safety shower and eyewash equipment. See our full range of solutionsread more
Gladstone Health & Leisure (Gladstone MRM Pty Ltd Australia) is a leading supplier of leisure management and fitness software and is endorsed by leading health and fitness professionals and…read more
Augmented Creative is an open organization of like-minded and highly dedicated, creative people who conceive, plan and execute visual solutions. We pursue new and innovative visual ideas to help…read more
Developed in Europe, this innovative system offers a safety management solution for swimming pools that checks individual swimmers via their wristband - monitoring their depth and time. Sensors…read more
At easyemployer we've come up with a software solution that manages one of your most important, and often most costly, business resources - your staff. We are helping 100s of clients to…read more
Fun Wheels Pty Ltd are the premium dealer in Australasia for the Dutch company BERG’s commercial and domestic products. Our flagship product is their revolutionary pedal go-kart – the…read more
Whether your goal is increasing your centre's revenues or creating an engaging environment, why not add play to your project? If you're looking for stylish aquatic play features, kid-tested…read more
get listed with our suppliers directory
Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!