Dubai Parks and Resorts report decline in resident visitor numbers
Attractions and entertainment complex, Dubai Parks and Resorts which comprises Bollywood, Hollywood and Legoland theme parks, has posted a decline of almost 20% in visits in the third quarter of the year due to a drop in visitation from residents.
According to Gulf Business and a released statement, Dubai Parks recorded 401,000 visits in Q3, compared to 501,000 for the same period last year.
The statement noted: “The decline was primarily due to a reduction in visitation from the resident market which is not unusual for a destination such as Dubai Parks and Resorts in its second full year of operations.”
DXB Entertainments runs Dubai Parks & Resorts with Mohamed Almulla, Chief Executive and Managing Director DXB Entertainments, advising: “We are progressing with our strategy of shifting the visitor mix in favour of more international visitors with 42% of visits now coming from international markets.
“We continue to receive positive feedback for our key assets. Looking ahead, we are gearing up for a busy fourth quarter, with a variety of activities and events planned for the last months of the year.”
Overall, the destination recorded over 1.8 million visits during the first nine months of 2019, down 8% compared to 1.96 million visits during the same period in 2018.
Over 42% of the 1.8 million visits came from international markets, compared to 40% during the same period in the prior year.
The destination’s Lapita Hotel maintained its average occupancy at 60% in the first nine months of 2019.
DXB Entertainments also announced in February that it was cancelling plans to build the $454 million Six Flags, citing financing constraints.
The planned Six Flags theme park was expected to feature the world’s biggest rollercoaster among its 27 rides and attractions.
Construction began in July 2016, with expectations of a 2019 opening. However, it was put on hold earlier this year since the financing for the project was no longer available.
DXB Entertainments will, according to Gulf News, reportedly pay US $7.5 million to Six Flags after abandoning its plans to build a version of the U.S. amusement park in the United Arab Emirates.
DXB Entertainments advised it had agreed with Texas-based Six Flags Entertainment Corp. to pay the amount as "a right of first refusal."
DXB Entertainments PJSC (previously Dubai Parks and Resorts PJSC) is traded on the Dubai Financial Market (DFM), since it was listed in 2014.
Image of Bollywood opening
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