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NEWS
Zhonghong Group snaps up Blackstone’s shares in SeaWorld with plans to bring brand to China
POSTED 24 Mar 2017 . BY Alice Davis
SeaWorld Entertainments biggest shareholder, Blackstone, is selling its 21 per cent stake in the theme park operator to a Chinese investors Zhonghong Zhuoye Group.

The deal, worth hundreds of millions of dollars, includes an agreement that SeaWorld will exclusively advise Zhonghong Group on the design and development of future themed entertainment destinations, including theme parks, waterparks and FECs, in China, Taiwan, Hong Kong and Macau.

“Zhonghong Group is making a significant, long-term investment in SeaWorld, reflecting their appreciation of the strength of our brand, our potential to grow the company and a shared commitment to protect wildlife and the environment,” said SeaWorld CEO Joel Manby.

“Zhonghong Group has a strong track record of performance in the leisure and travel industries, and a solid management team with valuable experience in theme parks, family entertainment and real-estate development in Asia.”

Earlier this month, Manby said financial discipline was a top priority for the embattled operator, after end of year results saw both revenue and attendance decline on 2015 figures.

The deal will also see two Zhonghong Group executives joining SeaWorld’s board of directors, Yoshikazu Maruyama, president of the firm’s US operations, and chief strategy officer Wang Yongli, who will offer “substantive expertise in global themed entertainment and business development in China”.

Blackstone, who bought SeaWorld for US$2.3bn in 2009, is selling to Zhonghong Group at a price of US$23.00 per share. The New York-based investment firm took SeaWorld Entertainments public in 2013, but has reduced its stake in the years since.

“We are delighted to engage with SeaWorld to bring this iconic, world-class family entertainment brand to China. SeaWorld’s commitment to inspiring guests to protect animals and our oceans is increasingly relevant to people all around the world,” said Maruyama.

“Zhonghong Group hopes to contribute our experience and resources in global tourism and project development to enhance long-term value to all of SeaWorld's shareholders. We look forward to a highly collaborative relationship and to serve as a key partner to grow its business and further its mission.”
RELATED STORIES
Joel Manby says financial discipline 'a top priority' as SeaWorld aims to cut US$40m from budget by 2018


SeaWorld CEO Joel Manby has said that financial discipline remains a top priority for the operator, after end of year results saw both revenue and attendance decline on 2015 figures.
Tough year for SeaWorld as operator reports lacklustre figures


SeaWorld has submitted its end of year results, with revenues and attendance both down on 2015 as the company continues to try and transform its image, putting “fun but meaningful” at the forefront of its PR campaign.
SeaWorld's Doug Stagner named new IAAPA COO and EVP


IAAPA has named attractions veteran Doug Stagner as its new COO and executive vice president – a newly created position designed to help the organisation achieve its goals and handle growth and global infrastructure.
SeaWorld’s Tilikum dies as controversial orca shows laid to rest


Just days since SeaWorld San Diego announced its final orca show would be on 8 January, the marine park brand’s most famous animal, Tilikum, has died.
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V&A Dundee, Scotland’s first design museum, will open to the public on Saturday 15 September 2018, it has been revealed.
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Danish architects COBE and Norwegian beer maker Lervig have unveiled plans for a major waterfront visitor centre and brewery in Stavanger, Norway.
Designs revealed for new aquatics centre on an artificial quay in Copenhagen’s harbour
Stunning designs have been revealed for Copenhagen's new Water Culture Centre, which will feature outdoor and indoor pools, waterfalls, harbour baths and sports facilities.
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The Bayeux Tapestry is set to be loaned to a British museum for the first time in nearly a millennium.
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NEWS
Zhonghong Group snaps up Blackstone’s shares in SeaWorld with plans to bring brand to China
POSTED 24 Mar 2017 . BY Alice Davis
SeaWorld Entertainments biggest shareholder, Blackstone, is selling its 21 per cent stake in the theme park operator to a Chinese investors Zhonghong Zhuoye Group.

The deal, worth hundreds of millions of dollars, includes an agreement that SeaWorld will exclusively advise Zhonghong Group on the design and development of future themed entertainment destinations, including theme parks, waterparks and FECs, in China, Taiwan, Hong Kong and Macau.

“Zhonghong Group is making a significant, long-term investment in SeaWorld, reflecting their appreciation of the strength of our brand, our potential to grow the company and a shared commitment to protect wildlife and the environment,” said SeaWorld CEO Joel Manby.

“Zhonghong Group has a strong track record of performance in the leisure and travel industries, and a solid management team with valuable experience in theme parks, family entertainment and real-estate development in Asia.”

Earlier this month, Manby said financial discipline was a top priority for the embattled operator, after end of year results saw both revenue and attendance decline on 2015 figures.

The deal will also see two Zhonghong Group executives joining SeaWorld’s board of directors, Yoshikazu Maruyama, president of the firm’s US operations, and chief strategy officer Wang Yongli, who will offer “substantive expertise in global themed entertainment and business development in China”.

Blackstone, who bought SeaWorld for US$2.3bn in 2009, is selling to Zhonghong Group at a price of US$23.00 per share. The New York-based investment firm took SeaWorld Entertainments public in 2013, but has reduced its stake in the years since.

“We are delighted to engage with SeaWorld to bring this iconic, world-class family entertainment brand to China. SeaWorld’s commitment to inspiring guests to protect animals and our oceans is increasingly relevant to people all around the world,” said Maruyama.

“Zhonghong Group hopes to contribute our experience and resources in global tourism and project development to enhance long-term value to all of SeaWorld's shareholders. We look forward to a highly collaborative relationship and to serve as a key partner to grow its business and further its mission.”
RELATED STORIES
Joel Manby says financial discipline 'a top priority' as SeaWorld aims to cut US$40m from budget by 2018


SeaWorld CEO Joel Manby has said that financial discipline remains a top priority for the operator, after end of year results saw both revenue and attendance decline on 2015 figures.
Tough year for SeaWorld as operator reports lacklustre figures


SeaWorld has submitted its end of year results, with revenues and attendance both down on 2015 as the company continues to try and transform its image, putting “fun but meaningful” at the forefront of its PR campaign.
SeaWorld's Doug Stagner named new IAAPA COO and EVP


IAAPA has named attractions veteran Doug Stagner as its new COO and executive vice president – a newly created position designed to help the organisation achieve its goals and handle growth and global infrastructure.
SeaWorld’s Tilikum dies as controversial orca shows laid to rest


Just days since SeaWorld San Diego announced its final orca show would be on 8 January, the marine park brand’s most famous animal, Tilikum, has died.
MORE NEWS
Revealed: Opening date for Scotland's first design museum, created by Kengo Kuma
V&A Dundee, Scotland’s first design museum, will open to the public on Saturday 15 September 2018, it has been revealed.
Norwegian brewery partners with COBE to create Stavanger waterfront attraction
Danish architects COBE and Norwegian beer maker Lervig have unveiled plans for a major waterfront visitor centre and brewery in Stavanger, Norway.
Designs revealed for new aquatics centre on an artificial quay in Copenhagen’s harbour
Stunning designs have been revealed for Copenhagen's new Water Culture Centre, which will feature outdoor and indoor pools, waterfalls, harbour baths and sports facilities.
Bayeux Tapestry coming to Britain for first time in 950 years
The Bayeux Tapestry is set to be loaned to a British museum for the first time in nearly a millennium.
More news>
LATEST JOBS
Casino Manager
Landers Recruitment
Salary: £30,000
Location: Manchester, United Kingdom
Director of Operations
WWT
Salary: £78,000 p.a.
Location: Slimbridge, Gloucestershire, United Kingdom
Head of Product Excellence
Legoland
Salary: Competitive
Location: Winter Haven, FL, United States
Customer Insights and Analytics Manager
Merlin Entertainments Group
Salary: Competitive
Location: New York, NY, United States
General Manager
Sea Life
Salary: Competitive
Location: Concord, NC, United States
Duty Manager
Madame Tussauds
Salary: Competitive
Location: Washington, DC, United States



 
 
ADVERTISE . CONTACT US

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Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2018

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NEWS
Zhonghong Group snaps up Blackstone’s shares in SeaWorld with plans to bring brand to China
POSTED 24 Mar 2017 . BY Alice Davis
SeaWorld Entertainments biggest shareholder, Blackstone, is selling its 21 per cent stake in the theme park operator to a Chinese investors Zhonghong Zhuoye Group.

The deal, worth hundreds of millions of dollars, includes an agreement that SeaWorld will exclusively advise Zhonghong Group on the design and development of future themed entertainment destinations, including theme parks, waterparks and FECs, in China, Taiwan, Hong Kong and Macau.

“Zhonghong Group is making a significant, long-term investment in SeaWorld, reflecting their appreciation of the strength of our brand, our potential to grow the company and a shared commitment to protect wildlife and the environment,” said SeaWorld CEO Joel Manby.

“Zhonghong Group has a strong track record of performance in the leisure and travel industries, and a solid management team with valuable experience in theme parks, family entertainment and real-estate development in Asia.”

Earlier this month, Manby said financial discipline was a top priority for the embattled operator, after end of year results saw both revenue and attendance decline on 2015 figures.

The deal will also see two Zhonghong Group executives joining SeaWorld’s board of directors, Yoshikazu Maruyama, president of the firm’s US operations, and chief strategy officer Wang Yongli, who will offer “substantive expertise in global themed entertainment and business development in China”.

Blackstone, who bought SeaWorld for US$2.3bn in 2009, is selling to Zhonghong Group at a price of US$23.00 per share. The New York-based investment firm took SeaWorld Entertainments public in 2013, but has reduced its stake in the years since.

“We are delighted to engage with SeaWorld to bring this iconic, world-class family entertainment brand to China. SeaWorld’s commitment to inspiring guests to protect animals and our oceans is increasingly relevant to people all around the world,” said Maruyama.

“Zhonghong Group hopes to contribute our experience and resources in global tourism and project development to enhance long-term value to all of SeaWorld's shareholders. We look forward to a highly collaborative relationship and to serve as a key partner to grow its business and further its mission.”
RELATED STORIES
Joel Manby says financial discipline 'a top priority' as SeaWorld aims to cut US$40m from budget by 2018


SeaWorld CEO Joel Manby has said that financial discipline remains a top priority for the operator, after end of year results saw both revenue and attendance decline on 2015 figures.
Tough year for SeaWorld as operator reports lacklustre figures


SeaWorld has submitted its end of year results, with revenues and attendance both down on 2015 as the company continues to try and transform its image, putting “fun but meaningful” at the forefront of its PR campaign.
SeaWorld's Doug Stagner named new IAAPA COO and EVP


IAAPA has named attractions veteran Doug Stagner as its new COO and executive vice president – a newly created position designed to help the organisation achieve its goals and handle growth and global infrastructure.
SeaWorld’s Tilikum dies as controversial orca shows laid to rest


Just days since SeaWorld San Diego announced its final orca show would be on 8 January, the marine park brand’s most famous animal, Tilikum, has died.
 


ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2018

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS