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NEWS
DXB reshapes business following poor second quarter
POSTED 11 Aug 2017 . BY Tom Anstey
Almost a year on from the launch of its multi-billion pound theme park and resort development in Dubai, operator DXB Entertainments has announced a significant losses for the second quarter of 2017.

Losses for the second quarter grew by almost six times, with AED286.2m (US$77.9m, €66.3m, £55.9m) losses compared to AED41.3m (US$11.2m, €9.6m, £8.6m) for the same period in 2016.

Revenue for the quarter was AED119.6m (US$32.6m, €27.7m, £25m), down from AED159.9m (US$43.5m, €37m, £33.5m) in the first quarter of the year shortly after the staggered launch of Dubai Parks and Resorts.

As a result, DXB has announced a new business strategy, introducing three new business units to better manage its existing assets.

Divided into theme parks, family entertainment centres (FECs), and retail and hospitality, the company says each division will be led by a regional industry specialist “with proven management experience”.

According to DXB, a similar third quarter is expected thanks to the extremely hot weather during the period, though it expects growth in the final three months of the year when temperatures lower.

As part of its reorganisation, DXB has also announced a deal with Meraas Leisure and Entertainment to manage assets including Hub Zero, Mattel Play Town and Roxy Cinemas among others, with the operator intending to “seek further opportunities to manage contemporary leisure and entertainment offerings in the UAE.”

“We are re-organising the business into three operating business units which aligns DXB with our strategic growth objectives,” said DXB chief executive, Mohamed Almulla. “The new structure and the industry specific talent we are bringing on board will help to drive value across DXB’s leisure and entertainment portfolio.

“We already own a great asset in the form of Dubai Parks and Resorts. With the addition of Meraas’ leisure and entertainment portfolio, DXBE will be able to identify and build significant cross-marketing synergies and additional revenue from the coordinated management of our diversified portfolio of assets.”
RELATED STORIES
DXB Entertainments names Almulla as new CEO following Al Nuaimi departure


DXB Entertainments, owner of Dubai Parks and Resorts, has named Arab Media Group (AMG) chief executive Mohamed Almulla as its new CEO.
DXB cutting costs by 20 per cent after posting Q1 loss


DXB Entertainments, the operator of Dubai Parks and Resorts, has said it will cut operating costs by 20 per cent this year after posting losses of AED292m (US$79.5m, €73.1m, £61.8m) in the first quarter of 2017.
DXB plans expansion of Lapita hotel brand to entertainment destinations worldwide


DXB Entertainments – the parent company of Dubai Parks and Resorts – has announced its intention to expand its Lapita Hotel brand beyond the UAE, with plans to establish a collection of themed hotels, tailored to theme park and family entertainment destinations.
Dubai Parks and Resorts planning fifth theme park


Dubai Parks and Resorts’ three major zones are now open, and the fourth Six Flags- branded park is under construction, but it seems operator DXB Entertainments is not about to rest on its laurels, with plans for a fifth park currently in the works.
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NEWS
DXB reshapes business following poor second quarter
POSTED 11 Aug 2017 . BY Tom Anstey
Almost a year on from the launch of its multi-billion pound theme park and resort development in Dubai, operator DXB Entertainments has announced a significant losses for the second quarter of 2017.

Losses for the second quarter grew by almost six times, with AED286.2m (US$77.9m, €66.3m, £55.9m) losses compared to AED41.3m (US$11.2m, €9.6m, £8.6m) for the same period in 2016.

Revenue for the quarter was AED119.6m (US$32.6m, €27.7m, £25m), down from AED159.9m (US$43.5m, €37m, £33.5m) in the first quarter of the year shortly after the staggered launch of Dubai Parks and Resorts.

As a result, DXB has announced a new business strategy, introducing three new business units to better manage its existing assets.

Divided into theme parks, family entertainment centres (FECs), and retail and hospitality, the company says each division will be led by a regional industry specialist “with proven management experience”.

According to DXB, a similar third quarter is expected thanks to the extremely hot weather during the period, though it expects growth in the final three months of the year when temperatures lower.

As part of its reorganisation, DXB has also announced a deal with Meraas Leisure and Entertainment to manage assets including Hub Zero, Mattel Play Town and Roxy Cinemas among others, with the operator intending to “seek further opportunities to manage contemporary leisure and entertainment offerings in the UAE.”

“We are re-organising the business into three operating business units which aligns DXB with our strategic growth objectives,” said DXB chief executive, Mohamed Almulla. “The new structure and the industry specific talent we are bringing on board will help to drive value across DXB’s leisure and entertainment portfolio.

“We already own a great asset in the form of Dubai Parks and Resorts. With the addition of Meraas’ leisure and entertainment portfolio, DXBE will be able to identify and build significant cross-marketing synergies and additional revenue from the coordinated management of our diversified portfolio of assets.”
RELATED STORIES
DXB Entertainments names Almulla as new CEO following Al Nuaimi departure


DXB Entertainments, owner of Dubai Parks and Resorts, has named Arab Media Group (AMG) chief executive Mohamed Almulla as its new CEO.
DXB cutting costs by 20 per cent after posting Q1 loss


DXB Entertainments, the operator of Dubai Parks and Resorts, has said it will cut operating costs by 20 per cent this year after posting losses of AED292m (US$79.5m, €73.1m, £61.8m) in the first quarter of 2017.
DXB plans expansion of Lapita hotel brand to entertainment destinations worldwide


DXB Entertainments – the parent company of Dubai Parks and Resorts – has announced its intention to expand its Lapita Hotel brand beyond the UAE, with plans to establish a collection of themed hotels, tailored to theme park and family entertainment destinations.
Dubai Parks and Resorts planning fifth theme park


Dubai Parks and Resorts’ three major zones are now open, and the fourth Six Flags- branded park is under construction, but it seems operator DXB Entertainments is not about to rest on its laurels, with plans for a fifth park currently in the works.
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
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Salary: Competitive
Location: New York, NY, United States
General Manager
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Salary: Competitive
Location: Concord, NC, United States
Duty Manager
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Salary: Competitive
Location: Washington, DC, United States



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

©Cybertrek 2018

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NEWS
DXB reshapes business following poor second quarter
POSTED 11 Aug 2017 . BY Tom Anstey
Almost a year on from the launch of its multi-billion pound theme park and resort development in Dubai, operator DXB Entertainments has announced a significant losses for the second quarter of 2017.

Losses for the second quarter grew by almost six times, with AED286.2m (US$77.9m, €66.3m, £55.9m) losses compared to AED41.3m (US$11.2m, €9.6m, £8.6m) for the same period in 2016.

Revenue for the quarter was AED119.6m (US$32.6m, €27.7m, £25m), down from AED159.9m (US$43.5m, €37m, £33.5m) in the first quarter of the year shortly after the staggered launch of Dubai Parks and Resorts.

As a result, DXB has announced a new business strategy, introducing three new business units to better manage its existing assets.

Divided into theme parks, family entertainment centres (FECs), and retail and hospitality, the company says each division will be led by a regional industry specialist “with proven management experience”.

According to DXB, a similar third quarter is expected thanks to the extremely hot weather during the period, though it expects growth in the final three months of the year when temperatures lower.

As part of its reorganisation, DXB has also announced a deal with Meraas Leisure and Entertainment to manage assets including Hub Zero, Mattel Play Town and Roxy Cinemas among others, with the operator intending to “seek further opportunities to manage contemporary leisure and entertainment offerings in the UAE.”

“We are re-organising the business into three operating business units which aligns DXB with our strategic growth objectives,” said DXB chief executive, Mohamed Almulla. “The new structure and the industry specific talent we are bringing on board will help to drive value across DXB’s leisure and entertainment portfolio.

“We already own a great asset in the form of Dubai Parks and Resorts. With the addition of Meraas’ leisure and entertainment portfolio, DXBE will be able to identify and build significant cross-marketing synergies and additional revenue from the coordinated management of our diversified portfolio of assets.”
RELATED STORIES
DXB Entertainments names Almulla as new CEO following Al Nuaimi departure


DXB Entertainments, owner of Dubai Parks and Resorts, has named Arab Media Group (AMG) chief executive Mohamed Almulla as its new CEO.
DXB cutting costs by 20 per cent after posting Q1 loss


DXB Entertainments, the operator of Dubai Parks and Resorts, has said it will cut operating costs by 20 per cent this year after posting losses of AED292m (US$79.5m, €73.1m, £61.8m) in the first quarter of 2017.
DXB plans expansion of Lapita hotel brand to entertainment destinations worldwide


DXB Entertainments – the parent company of Dubai Parks and Resorts – has announced its intention to expand its Lapita Hotel brand beyond the UAE, with plans to establish a collection of themed hotels, tailored to theme park and family entertainment destinations.
Dubai Parks and Resorts planning fifth theme park


Dubai Parks and Resorts’ three major zones are now open, and the fourth Six Flags- branded park is under construction, but it seems operator DXB Entertainments is not about to rest on its laurels, with plans for a fifth park currently in the works.
 


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
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