Dubai Parks posts record 45% increase in Q1 visits

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Dubai Parks and Resorts, the region's largest theme park destination, welcomed 851,000 visits during the first quarter of 2018, an increase of 45 per cent compared to the first quarter of 2017, operator DXB Entertainments said on Thursday.

The number of visitation marked an increase of 55,000 visits compared to the last quarter of 2017. This sets a new record quarter visitation figure, the parks and resorts operator, which reported a Dh1.12 billion net loss for 2017, said in a statement.

In March, DXB said it had reached a deal with banks to restructure Dh4.2 billion in debt. After posting a wider-than-expected loss for the full year, DXBE agreed on a Dh1.2 billion convertible bond with its biggest shareholder and a delay to payments on bank debt. The first quarter's record visitor figures follows a fourth quarter of 2017, when Dubai Parks and Resorts attracted close to 796 thousand visits.

The Lapita Hotel average occupancy rose to 62 per cent in the first quarter of 2018, compared to 22 per cent for the same period last year, and 48 per cent in the fourth quarter of 2017.

"This year is the first full year of operations for Dubai Parks and Resorts and the growing visitor numbers and hotel occupancy reflect the ramp up in operations and the implementation of co-ordinated resident and international sales and marketing strategies," said the company

Mohamed Almulla, chief executive officer, DXB Entertainments, said the growth in visitation last quarter is a clear sign the new strategy is delivering results. "Visitor numbers are steadily increasing as we continue to focus on our core markets of GCC residents, annual pass holders and international visitation."

Almulla said it is important to note that in a normal annual cycle the fourth quarter should deliver the highest visitor numbers as it is the peak tourist season for the city of Dubai and therefore quarter-on-quarter improvement is a further sign of our continued growth.

"Theme parks are seasonal in nature and while we expect to deliver year-on-year growth, we anticipate the warmer second quarter to deliver lower visitation than the cooler months of the first quarter," said Almulla.