Six Flags: Summer Bounce-Back Boosts Attendance
Record Attendance
Six Flags reported a 2% increase in visitors this summer, with 17.8 million people attending their parks over nine weeks.
"We are pleased with our summer performance and believe our strategies are working well."
- Richard A. Zimmerman, CEO
The company is gearing up for a busy fall season, including Halloween events.
Lower Revenue Per Guest
Despite the rise in attendance, Six Flags saw a decline in earnings per visitor due to heavy discounts. For example, they offered nearly 50% off tickets at Six Flags Over Texas, which attracted more guests but reduced revenue.
Industry-Wide Trends
Other entertainment companies also resorted to promotions:
- Topgolf and Live Nation ran sales.
- Disney lowered prices for park and hotel bookings.
Summer is a crucial season for these businesses, but Six Flags needed a strong performance after a weak spring caused by bad weather.
Post-Merger Challenges
The company is still adjusting after merging with Cedar Fair last year, relocating its headquarters to Charlotte, N.C. Despite challenges, Six Flags remains confident in its $900 million earnings goal for 2023.
Future Investments
Six Flags is investing in new attractions, including a new rollercoaster at Six Flags Over Texas. Zimmerman emphasized the company's strong decision-making post-merger and expressed optimism for a successful 2025, aiming to meet cost-saving targets and earnings guidance.
