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Tom
TS Member
Chessington seems to be an exception with the investment it has had both recently, and continues to have planned under O'Neil. Perhaps there was a significant effect from World of Jumanji, which gives them some confidence there. They could be packaging it up to sell I guess, but don't expect so.
Bert2theSpark
TS Member
I've been thinking about this a fair bit recently. Resort Theme Parks definitely aren't the priority for the new Merlin leadership, and they have been burdened with resolving the historic issues within the various parks. However, I'd still argue that they provide a lot of value to the company as a whole. Firstly, having the experience of running theme parks, the Midway attractions and Legoland parks already have a framework and synergies that they can share with. We don't see a lot of it from a customer perspective, but the different divisions are always consulting each other with their various strengths and weaknesses, and occasionally we've seen Merlin use economies of scale for use across the different divisions within the business. I suspect contributing as to why the Lego parks are now receiving family B&Ms date back to when Tussauds first established a working relationship with them with Nemesis.
Secondly, the RTPs bring a lot of value to the Merlin Annual Passes, which essentially serve as a big source of cashflow predominately towards the start of the new financial year. If they sold off the RTPs, then I can almost guarantee you that they'd see a permanent slump in attendance in many of their Legoland and Midways. Conversely, the Resort Theme Parks provide more consistent revenue compared to the Midway attractions, Merlin would be more exposed to their profits tanking if the popularity of Midway attractions were to, again, slump. Investors want to see growth, but equally they want to see reliable, consistent revenue.
It's becoming really obvious that Merlin currently are attracted towards growth within the Midway and Legoland divisions, especially in the Asia market. Merlin are the only regional Western theme park operator that has established a foothold in the gigantic market that is China, as well as having a footprint in the American market. I think the investments we're about to see in Chessington are a continued committment to the UK RTPs and look like Merlin really do want their answer to Super Nintendo World with the Minecraft Wild Asia replacement. I think Merlin realise there's a lot of untapped potential for growth still in the UK parks, the question is will the new additions be enough to see significant returns to outweigh the creaking infrastructure in the rest of parks. This Merlin doesn't seem interested in incrimential changes left and right, and more of a "go big or go home" approach, at least when it comes to capital expenditure.
owenstreet7
TS Member
- Favourite Ride
- Taron
I see a degree of truth behind this however I believe before Covid and even that dreaded train in a shed a few years earlier, Merlin had been doing consistent 3/4 year investment cycles across their portfolio. It might be the case that Merlin are back on those cycles again after the pandemic.
With Chessington, it does seem that Project Refresh and Renew and Project Play do indicate that there's a investment cycle as Project R&R is 4 years after Jumanji.
This might vary slightly as factors could include Hyperia's success when running and constant cuts at Alton Towers and to some degree the other parks.
Alton Towers hasn't had a major new attraction since 2018 however had a major overhaul of Nemesis.
One thing we do seem to be seeing is the parks adding more supporting rides again in recent years. This is primarily for Chessington however we're starting to see this for Towers with Project Ocean and things do seem to be developing for Thorpe Park with Slammer and the Beach being prime sites for future investments.
I'd say it is possible that the Resort Theme Parks are a focus lately due to Universal and competition from rising parks such as Paultons Park and Drayton Manor along with established parks such as Blackpool or overseas and attractions such as the Warner Bros Studio Tour.
Towers4ever
TS Member
If you had said that Chessington would have a B&M inverting coaster and potentially a Intamin multi-dimensional coaster plus a host of new or repurposed flats in the space of 5 years you'd have been laughed off the forum.... Yet here we are
I can see huge investment continuing for Chessington and Thorpe Park with the whole London catchment. Towers seems strangely neglected
I can see huge investment continuing for Chessington and Thorpe Park with the whole London catchment. Towers seems strangely neglected
owenstreet7
TS Member
- Favourite Ride
- Taron
Exactly, especially if this was suggested in 2019 before the Croc Drop plans got submitted.
It's the same with Paultons Park with it's 2026 Viking Area and saying they're getting an extreme coaster with at least one inversion, possibly multiple.
At that point, none of the UK Merlin parks have had flat rides (that aren't specifically for kids) installed since Kobra at Chessington in 2010.
We do seem to be seeing a bit of a renaissance of investment for the Merlin Parks at the moment. How long it lasts, that's a different matter.
Towers4ever
TS Member
Arguably the flats at Chessington are all 'family' as opposed to kids rides... Barrell Bail Out, Trawler Trouble, Mamba Strike and Ostrich Stampede. Legoland had Fire and Ice and Sky Lion. Towers will have a topspin back finally and a couple of decent rethemes and upgrades. Thorpe investment will continue and Chessington seems to be well in favour. Jumanji, Waterpark if approved, new accomodation (albeit it losing Glamping) and a huge new themed area plus more. Merlin have some dross to sort out or remove but I can see a decade long cycle of updating and extending some classics (Vampire, Oblivion) and also a lot of removals (Rattlesnake, Galactica)
It'll be nowhere near Disney or Universal standard but I think Merlin certainly are chucking 10's of millions at the parks even if the rides or IP's aren't to your liking
It'll be nowhere near Disney or Universal standard but I think Merlin certainly are chucking 10's of millions at the parks even if the rides or IP's aren't to your liking
owenstreet7
TS Member
- Favourite Ride
- Taron
That is true, anything after Croc Drop was when Merlin started to change it's tune on Flat Rides and install more of these.
Most of them are Family and Family-Thrill however Alton Towers are getting the first thrill flat from Merlin in years.
Before 2019, the flat rides that got installed was rides for Cbeebies Land at Alton Towers or have come from other parks run by Merlin secondhand.
Towers4ever
TS Member
Towers suffers in the sense that adding 4 decent flats would transform the park and take the pressure off the coaster line up. X-Sector was the jewel in the crown and it's now a sad excuse for an area. Getting Sub Terra back despite it being lame is also a good start but they have space for a few decent flats including indoor attractions to bolster the 24/7 365 operations they may look to get onboard with. Horizon if it's happening again a decent step if Chessington hasn't stolen it
Towers4ever
TS Member
Scott O'Neill is very pro Chessington by all accounts. If the rumoured investment figures are true then Shipwreck Coast at £1m, World of Jumanji at £18m, Waterpark £35m and whatever Wild Asia going to become allegedly £50-70m total (phase 1 & phase 2) then over £100m investment in a decade or less is some decent numbers. A fraction of Universal but still not to be sniffed at. Arguably Chessington needs the most TLC as the true 'theme' park of the portfolio even if it does become IP heavy
Thorpe baffles with Swarm Island fabulous and Hyperia shocking