Lapita™ Hotel occupancy rose to 55% compared to 24% last year
DXB Entertainments PJSC (DFM:DXBE) today announced that Dubai Parks and Resorts, the region’s largest integrated theme park destination, attracted over 1.4 million visits during the first half of 2018, an increase of 46% compared to the first half of 2017.
April was another peak month, with the theme parks attracting over 300 thousand visits driven by the influx of tourists during the international school holiday season. In addition, the second annual ‘Big Day Out’ on the 20th of April 2018 set new records for single day visitation with over 36 thousand visits.
Dubai Parks and Resorts reported over 612 thousand visits in Q2 2018, compared to 414 thousand in the same period last year, growth of 48%. Theme parks are seasonal in nature and whilst Dubai Parks and Resorts has delivered year-on-year growth, the warmer second and third quarters of the year typically deliver lower visitation than the cooler months of the first and fourth quarter.
The Lapita™ Hotel average occupancy rose to 55% in the first half of the year, showing significant improvement compared to 24% occupancy reported during the same period last year.
Mohamed Almulla, CEO and Managing Director, DXB Entertainments, said “We are pleased to announce continued year on year growth in our visitor and hotel occupancy numbers. The first half of 2018 has delivered over 46% growth compared to the same period last year and our results demonstrate Dubai Parks and Resorts is on a clear growth trajectory. We remain confident in our growth potential as we progress through our first full year of operations.”
A significant development for the quarter, Dubai Parks and Resorts and Dubai Airports signed an exclusive agreement to feature the theme park destination at all Dubai Airport terminals. Under this agreement, Dubai Parks and Resorts will be promoted to the over 88 million passengers travelling through Dubai Airport annually.
Dubai Parks and Resorts also recently announced a partnership with Emirates, the largest airline in the Middle East, to offer its customers special bundled offers, exclusively available for Emirates passengers.
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
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
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