Drayton Manor Park

[Jb85]

Drayton Manor deserves success, they have had a rough time but found an IP which is working and quite frankly isn't expensive to expand. A new ride or two for that market won't cost as much as a thrill machine.

Unfortunately a look at their Accounts shows just how much money they owe banks in the next 5 years or so. Their strategy must be to clear the debt and the ludicrous levels of interest being paid out before they are able to really plan for larger future expansion.

*I am not an accountant so excuse my ignorance if I have read their latest accounts incorrectly.

I’ve said t before in this thread their debt levels are high and the issues will come when / if they cannot service them. There of course is the option of renegotiating their debt. Which is highly likely I would say.

Debt isn’t an issue really - Merlin have debt

 

[Themeparksandy1981]

Really?

The haunted house was a excellent attraction but it’s a ride just full of red and yellow targets now. Like you hit then and the lights so out and back on again. At least when you hit the targets on the shootout they interact. The heat been the biggest problem with the shootout as the compressor room been very warm so it’s not working as good as it should do with Drayton closed on the 9th and 10th September they can sort it out again.

 

[Rick]

If Alton decided to invest some serious money into taking on the competition (really not outside the realms of possibility) Drayton could be in serious trouble.

I think that's true in theory, but the reality of it is quite different. There are a number of 'softer' reasons to visit Drayton if you're a family that Alton can't or won't solve. It's an easier visit for a young family, for a number of reasons.

Plus, if Drayton do concentrate all their resources on the family market they can still spend more than Alton will, because Alton's pot (albeit bigger - historically at least...) has to go around everything that they're doing.

There's room for both, I have little doubt. Without Thomas Land, I think we'd be having a different conversation.

 

[Funcone]

I really don’t think Drayton Manor sat around saying, “Let’s stick to adding cheap Zamperla flat rides from now on”. Unfortunately, it’s the way things seem to have panned out. As JB85 said, their debt levels are high according to Companies House. They were already vulnerable, and then the Splash Canyon accident has pushed them into a really tough position.

People often mention the money they’ve spent on Thomas Land, but I’m pretty sure the hotel cost a lot more. For the cost of the hotel I recon they could have added at least two major rides. Possible three. I do understand that a lot of theme parks have done very well out of their hotels and certainly the Macks have cited their early entry into the theme park hotel market as a key factor behind Europa Park’s rapid growth. Merlin certainly seem to feel they get a better return on their investment with accommodation than rides. But in Drayton Manor’s case I wonder whether the hotel worked out for them.

 

[D4n]

Ultimately I think you need to have a product / products that either make two days spent there worthwhile (Europa Park) OR a product that is so good that people are willing to come from much further afield to experience it and thus require an overnight stay (Alton Towers, at least as the public perceives it) OR be located near enough to other tourist attractions which could be incorporated into a visit (Flamingo Land) in order to make a hotel work.

My instinct is that Drayton Manor is none of those things, and therefore a hotel was a very risky investment. But I honestly have no idea if it is profitable for them.

 

[Themeparksandy1981]

The hotel most weekends is full or nearly full as 2 wedding evening do’s I been to in the hotel has been sold out and they host many wedding in there on the same day plus they also got there other 2 suites and been in the middle of nowhere guests have 2 options have a drink and stay or stay sober and drive home. I paid £70 for a night for me and my wife to stay in a standard room with a nice breakfast in the morning.

 

[Ciaran]

The hotel was a risky investment but it’s paid off now. I’m pretty sure the hotel recently broke even, so they should now be making a slow profit from it, meaning hopefully more money will be available for investment in the near future.

 

[Rick]

Ultimately I think you need to have a product / products that either make two days spent there worthwhile (Europa Park) OR a product that is so good that people are willing to come from much further afield to experience it and thus require an overnight stay (Alton Towers, at least as the public perceives it) OR be located near enough to other tourist attractions which could be incorporated into a visit (Flamingo Land) in order to make a hotel work.

My instinct is that Drayton Manor is none of those things, and therefore a hotel was a very risky investment. But I honestly have no idea if it is profitable for them.

I think it's very much that for young families who are travelling for Thomas Land. The park is 2 hours door to door for us if we use the toll road, or 30 minutes extra if we don't. The rates are low enough that if you if you had a 2 and 4 year old, doing that trip in a day would be a push - you might as well stay for the convenience that affords.

The occupancy rate must be pretty high, I've stayed a number of times with work and often some attendees haven't been able to get rooms and have had to stay at the Holiday Inn Express in Tamworth. Plus, as mentioned they're smashing it with weddings. They've created a hotel that works great for park guests but also for those just using it as a hotel - I'd be hard pressed to use an Alton hotel for work.

Some people do a WEEK at Flamingo Land in a caravan and don't even leave the place from start to finish.

 

[DistortAMG]

Occupancy rates are always really really high around here in Tamworth. In the close vacinity of DMP and in Tamworth itself, we have Holiday Inn Express at the Snowdome, Premier Inn Beefeater, Premier Inn Centurian, Travelodge Central, Travelodge M42 and a plethora of privately run hotels in the town center such as the Globe Inn, Castle Hotel and Colin Grazier Hotel.

Most of these see high occupancy rates to the best of my knowledge. Drayton obviously benefit from the huge demand around here too, with their product being competively priced in some cases.

There is something about our not so small town which makes demand sky high. We get alot of business and tourism customers here to be fair.

 

[IanSR]

Debt isn’t an issue really - Merlin have debt

Not normally no but it only takes one of two big losses for banks to go calling in debts from smaller customers to cover/deflect away for a business to go under overnight, or even a change in management at local branch/chain level for overdrafts and loans to be called in.

Don't ask me how I know about this.

 

[Themeparksandy1981]

This half price sale at Drayton Manor has really brought the park back to life. Thomasland has always been busy but every queueline around the park was full. 3 car parks were nearly full.

 

[Jb85]

Not normally no but it only takes one of two big losses for banks to go calling in debts from smaller customers to cover/deflect away for a business to go under overnight, or even a change in management at local branch/chain level for overdrafts and loans to be called in.

Don't ask me how I know about this.

Very much aware of this - I have made a career out of credit risk management

 

[Themeparksandy1981]

They must have had a good summer season.

 

[Doublethink]

Lots of mesages on my twitter feed that various dates have been sold out. That can only be good news for the park.

 

[Rick]

Nice read from Blooloop about George Bryan's consultancy firm for family businesses. Talks about how they managed the transition from each generation to the next at DMP.

 

[RoyJess]

I visited Drayton yesterday. It was the quietest that I've ever seen it, and I have been on very quiet days before.

I only visit now for Apocalypse and you can only do that so many times in one day.

As we are all aware, G force is shut off awaiting some new development, apparently if going to be something aimed at the younger generation. As mentioned in some of the previous post, Drayton are moving away from the thrill sector and going to focus more on kids up to young teenagers.

It's a shame as Drayton was once a lovely theme park with a lot to offer and a lot of potential.

I just came away yesterday feeling like I had enough (I got bored) and was happy to leave. A good theme park should leave me coming away feeling that I had a great day and wanting more.

 

[Rick]

@RoyJess what else did you ride?

 

[RoyJess]

@RoyJess what else did you ride?

I did the sheriff's showdown out several times and got the highest score of the day of 34700. Apparently the previous highest score of the day was set by a staff team leader.

I did the haunting several times
Shockwave x 1 not an enjoyable or re-ride-able ride
Storm force 10, but it did brake down when I was on it and it never reopened for the rest of the day
Accelerator x 1 not an enjoyable or re-ride-able ride
Buffalo coaster x 2 perhaps the slowest coaster going
Pandemonium x 1
Dodgems x 1 not so much fun when you are the only one on them, no one to bump into
Lost count on how many times I did Apocalypses, I did the floor less just the once as it's not at all good on my manhood.

Apparently the park is holding back any investment at the moment as they are awaiting the results of the inquest, they are expecting to payout some sort of fine.

 

[Rob]

That is sad to hear but not at all surprising. I've not visited Drayton for a few years now despite it being the closest park to where I live (just!). I can't see that changing in the next few years either. I would sooner visit most other UK parks ahead of Drayton these days.

 

[Doublethink]

I tried out the Verkoma launched ride Formula at Energylandia the other coaster and felt that would be an ideal ride for Drayton. Tiny footprint, decent launch, some fun forces and airtime and ultimately a very inexpensive ride to build.

Would fill the void gforce left very nicely