Overview
- CEO Marc Swanson said the company is evaluating several sale-leaseback proposals and fielding offers to purchase excess land, alongside talks on hotel, timeshare, residential, and commercial co-development.
- United Parks reports roughly 2,000 acres across seven U.S. properties, including about 400 undeveloped acres near SeaWorld, Busch Gardens, and Sesame Place parks.
- No prospective buyers or partners were named, and decisions will be made with a board that is majority owned by a private equity firm.
- The review follows softer results, with attendance down 1.8% to about 21.2 million, revenue down 3.6% to $1.7 billion, and net income down 26% to $168.4 million.
- Management estimates park replacement cost at over $10 billion—about 2.5 times current enterprise value—and notes a lack of onsite hotels as it explores lodging partnerships.