DXB Entertainments PJSC (DFM:DXBE) today announced that Dubai Parks and Resorts, the region’s largest integrated theme park destination, attracted over 1.96 million visits during the first nine months of 2018, an increase of 33% compared to the same period last year.
The growth in visitor numbers for the nine-month period ended September 30 follows sustained growth in visits for the past three quarters. In Q3 2018, Dubai Parks and Resorts recorded over 501 thousand visits, compared to 479 thousand in the same period last year. August saw an increase in visits as the parks benefited from the Eid holidays, whereas September saw a slow down as the new school year started. Q3 2018 visits are in line with, and reflect, the expected impact of seasonality.
The Lapita™ Hotel average occupancy rose to 59% in the first nine months of the year, showing significant improvement compared to the 30% occupancy reported during the same period last year.
Mohamed Almulla, CEO and Managing Director, DXB Entertainments, said “We are pleased to progress according to our strategic plan and to deliver growth in visitor numbers, as Dubai Parks and Resorts continues to establish itself as a leading leisure and entertainment destination for the region. The first nine months of the year delivered a 33% increase in visits compared to last year, despite the seasonal slowdown of the third quarter. The Lapita™ Hotel average occupancy has seen a steady increase this year reaching 59% in the first nine months, compared to 30% last year. As we head into our peak fourth quarter we are optimistic that we will continue on this growth trajectory.”
During the quarter, MOTIONGATE™ Dubai was awarded the best theme park in the UAE and the LEGOLAND® Water Park was awarded the best water park in the UAE at the Time Out Kids Awards 2018.
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DXB Entertainments PJSC
DXB Entertainments PJSC (previously Dubai Parks and Resorts PJSC) is a Dubai-based operator of leisure and entertainment destinations and experiences. The Company is traded on the Dubai Financial Market (DFM) under the trading symbol DXBE. We bring together a diverse portfolio of world-class brands to offer entertainment in the areas of theme parks, family entertainment centres and retail and hospitality.
DXB Entertainments is the owner of Dubai Parks and Resorts, the region’s largest integrated theme park destination, with five Theme Parks (Six Flags Dubai under development), two Hotels (LEGOLAND® Hotel under development), and one retail and dining facility all spread over 30.6 million sq.ft of land, with an estimated AED 13.2 billion in development costs.
DXB Entertainments also manages six Dubai-based mid-way attractions in addition to a chain of cinemas, all owned by Meraas.
With a diverse portfolio of 16 leisure and entertainment assets, DXB Entertainments is the largest leisure and entertainment company in the region.
For more information, go to: www.dxbentertainments.com
For further information, please contact:
Marwa Gouda
Head of Investor Relations
DXB Entertainments PJSC
+97148200820
IR@dxbentertainments.com
Jon Earl
Managing Director
FTI Consulting
+97144372104
jon.earl@fticonsulting.com
Anca Cighi
Director
FTI Consulting
+97144372111
anca.cighi@fticonsulting.com
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