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Merlin Interim Results 2018

Bingo card for excuses at the ready.....
I can easily fill a card with Nickisms but Anne Francoise is a little more random.

Additionally, it's interesting that the challenges Cedar Fair outlined today are similar to those facing Merlin. Six Flags meanwhile, with their much reduced capex is doing far better.
 
Seems like a mixed bag, Six Flags still doing well but not as well as the stock market expected and Cedar Fair doing worse with a decline in attendance/revenue despite huge capital investment in new coasters.

Will be interesting to see how Merlin does tomorrow and if SeaWorld can maintain the momentum that they built in the first quarter. SeaWorld release their results in a week's time I believe.
 
I just relistened to the Cedar Fair call, without distractions and interruptions. It is almost exactly the same as as one of the Merlin ones with the same key themes, excuses and actions, even to the point where they were discussing how next year they will be looking at 'cutting operating hours' and 'removing rides which have run their course'.

The key reason that the similarities are interesting is that Merlin have spoken how they are different to Cedar Fair and Six Flags, but they are seemingly having some of the same issues and are countering them with the same response.
 
Certainly a mixed picture.

Interesting that FX is impacting them as much as it is. <insert 'Merlin don't usually care about fx' comment>.
 
Is weather ever not an excuse? Last year it was too cold, and this year too warm?
I think it will continue to be an excuse in individual operating groups but less so in terms of the wider picture because different types of weather harm/help the various groups. Plus, as the geographic spread continues it will assist with that l.

Cedar Fair had some interesting views on weather, particularly how us all having a weather app at our finger tips changes the way we plan visits and how an app suggesting rain seven days ahead is enough to change your visit profile.

I do wonder if we as a nation are more 'scared' of the rain. It feels like we don't just crack on with stuff as much as we did in the 90s.
 
Indeed, scared of rain has become a strange reality.
Some of my punters don't like me working in the rain...at all!
If you don't want me to mow the lawn, fine, it is neater on a dry afternoon, but there are lots of jobs I can get done, but not at some of my properties.
Skin is waterproof, we do not dissolve in light showers.
We never used to cancel planned outings that have been months in the preparation because of a dodgy forecast...
And the queues are shorter, and the coasters faster, in the rain as well.
Completely off topic, time to skive off to the coasters because of a little light drizzle.
 
What always surprises me is that you still can’t prebook the vast majority of 241 vouchers in advance.

As most visitors use those tickets it’s easy to delay a visit if you think the weather will be dodgy. If you have booked and paid in advance you are going to go regardless.

It also means less staff selling tickets at the ticket booths.
 
I think it will continue to be an excuse in individual operating groups but less so in terms of the wider picture because different types of weather harm/help the various groups. Plus, as the geographic spread continues it will assist with that l.

Cedar Fair had some interesting views on weather, particularly how us all having a weather app at our finger tips changes the way we plan visits and how an app suggesting rain seven days ahead is enough to change your visit profile.

I do wonder if we as a nation are more 'scared' of the rain. It feels like we don't just crack on with stuff as much as we did in the 90s.

I agree. Although stupid over the top rain policies as US parks do not help with this, it is as if they are shooting themselves in the foot.

Cedar Points decline in guest numbers this year is very concerning. It was open until 11pm on Tuesday however the park was practically dead from 7pm onwards.

:)
 
Shares down around 4% in the two days trading since results were announced. In recent months, it's become clear to many investors (and me) that the potential for sustainable significant growth is questionable.
 
I think it will continue to be an excuse in individual operating groups but less so in terms of the wider picture because different types of weather harm/help the various groups. Plus, as the geographic spread continues it will assist with that l.

Cedar Fair had some interesting views on weather, particularly how us all having a weather app at our finger tips changes the way we plan visits and how an app suggesting rain seven days ahead is enough to change your visit profile.

I do wonder if we as a nation are more 'scared' of the rain. It feels like we don't just crack on with stuff as much as we did in the 90s.
It is true about the weather apps. On the midnight finish event at Europa it was meant to be 90% rain literally all day, which meant low crowds.

I think it rained for 15 mins in the afternoon and the rest of the day was lovely. I really don't trust them apps.
 
The worst thing Merlin ever did was go public... if only they had found a better alternative at the time, maybe things could have been different. All my hopes for a brighter furure for the theme parks rest on them somehow managing to reverse that ill fated decision. :(
 
Public ownership was always the objective, and the genie cannot be put back in the bottle. At least not with Varney at the helm. I don't believe he has desire, and certainly not the power.
 
I am not sure it was so much the objective, but was unavoidable given the way they wanted to grow the company. The PE money was invested, I presume, with an understanding they would IPO within x timeframe.
 
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