Latest News

Back to Latest News back

 

Wet’n'Wild Sydney operator Parques Reunidos reports rising profits

Wet’n'Wild Sydney operator Parques Reunidos reports rising profits
April 6, 2019

Global attractions operator Parques Reunidos, the new owner of the Wet'n'Wild Sydney waterpark, has reported a €13 million (US$14.5 million) net profit on its global operations over its last fiscal year, which ended on 30th September 2018.

The figure represents a 14.5% increase on the previous year and a significant reversal from the the first quarter of the year when the Spain-based operator recorded losses of €45.8 million (US$51.3 million).

Submitting its accounts for shareholders' approval, the Parques Reunidos board also ratified the appointment of José Díaz as Chief Executive for the statutory term of four years.

Diaz is currently leading the development of a new strategic plan that will be announced to the market in the coming months that will focus on returning to the path of organic growth, integrate and achieve the expected profitability of the acquisition of Tropical Islands and execute the plan of investments efficiently.

The group has also recently completed its largest ever acquisition, the purchase of the Tropical Islands indoor waterpark in Germany, for €226 million euros (US$253 million), as reported by the leisure group to the National Securities Market Commission (CNMV).

The purchase was financed through an additional tranche of the group’s existing syndicated credit line.

Attraction about 1.3 million visitors a year, Tropical Islands is the largest covered waterpark in the world and offers a range of attractions over a 600 hectares. It is located about 60 kilometres south of Berlin and close to the cities of Dresden and Leipzig, as well as Poland and the Czech Republic.

One of the world's largest attractions businesses, Parques Reunidos operates more than 60 theme and amusement parks, zoos, waterparks, family entertainment centres and cable car attractions in 14 countries.

The company has made no statement on operations at Wet'n'Wild Sydney since completing its acquisition of the waterpark in October last year.

Image: The Tropical Islands indoor waterpark in Germany.

Related Articles

28th February 2019 - US-based aquatic safety consultants award Wet’n'Wild Sydney lifeguards

31st January 2019 - José Díaz appointed Chief Executive of Parques Reunidos

11th October 2018 - Parques Reunidos completes Wet’n'Wild Sydney acquisition

3rd September 2018 - Dubai Safari to reopen under Meraas management

23rd August 2018 - Village Roadshow blames Commonwealth Games and Dreamworld deaths for disappointing results

2nd July 2018 - Village Roadshow sells Wet’n'Wild Sydney to Spanish attractions operator

17th February 2018 - Village Roadshow reveals ‘incredibly disappointing’ results for Wet’n'Wild Sydney

27th August 2014 - New General Manager to steer Wet’n’Wild Sydney’s second season

31st December 2013 - NSW Fair Trading Minister slams ‘unacceptable’ Wet’n'Wild Sydney New Year’s Eve event cancellation


Asking a small favour
We hope that you value the news that we publish so while you're here can we ask for your support?

The news we publish at www.ausleisure.com.au is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.

However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.

Published bi-monthly since 1997, the printed Australasian Leisure Management differs from this website in that it publishes longer, in-depth and analytical features covering aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues management.

Subscriptions cost just $90 a year.

Click here to subscribe.

 

supplier directory

The Complete Guide to Leisure Industry Products & Services.

See the directory see all

State Wide Pool Services

Known as Hydrilla since September 2020 - see www.ausleisure.com.au/suppliers/hydrilla-pty-ltd

read more

Aquatics

 
 

PRIAVA

About Priava's Technology -  Priava is a cloud-based and centralised venue and event management system aimed at venues of all sizes. With its familiar and easy-to-use web interface, the…

read more

Attractions / Billing / Entertainment / Events / Technology

 
 

Worldwide Sports Management

Principal Consultant Simon Weatherill has spent the last 20 years developing the world renowned Melbourne Sports Hub, as former Chief Executive Officer of the State Sports Centres Trust…

read more

Aquatics / Consultants / Recreation / Sport / Venues

 
 

BH Fitness

BH Fitness, part of the long-standing and iconic bike manufacturer BH Group, is a global leader in fitness equipment for both Commercial and Home markets. The company, with the headquarters based in…

read more

Fitness / Recreation / Sport / Technology / Wellness

 
 

AUSTRALIAN WATERSLIDES AND LEISURE

A leading designer and manufacturer of innovative waterslides and attractions, Australian Waterslides and Leisure (AWL) is also able to advise clients in the areas of concept and design, feasibility…

read more

Aquatics / Attractions / Play / Waterparks

 
 

Centaman Entrance Control

Turnstile Entry Systems and Access Control Centaman Entrance Controls’ Award Winning Range of Access Control Systems includes tripod & triarm turnstiles, speedgates, full height…

read more

Access / Entertainment / Sport / Ticketing / Venues

 
 

Aflex Inflatables

Aflex Inflatables are the leaders for obstacle courses, pool toys, waterparks and land-based watersides and fitness runs. They are industry leaders offering the widest range of pool, lake and beach…

read more

Aquatics / Play / Waterparks

 
 

Anti Wave International

Anti Wave International is the original suppliers of top performance swim, aquatic sports, leisure and pool programming equipment. Founded in 1971, Anti Wave International is proud of its…

read more

Aquatics / Play / Sport

 
 
 
 

get listed with our suppliers directory

Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!

list your business