I feel that they need to start hiring for this position from within. They need a president who's been with the park/company long enough to want to see change in it and know how corporate above them is going to respond instead of another ex park president at a different chain coming in with no history to BGT, seeing how United Parks works for the first time with the park, and then jumping ship as soon as they can
News Leadership Changes
- Thread starter Jahrules
- Start date
saddly i dont think thats the problem even other united park people that were promoted within the company has left in the past 3-5 years/forced out. until we see less from the private equity the more we lose good employees
"let go" is a euphemism for getting fired, no?
If you’re fired then there is a reasonable expectation that the position will be filled again, this sounds more like a re-org/consolidation where the position was eliminated.
Let Go and Fired are the same thing.
https://www.unitedparksinvestors.co...rts-Announces-Leadership-Updates/default.aspx
They made some leadership changes last week.
https://www.unitedparksinvestors.co...rts-Announces-Leadership-Updates/default.aspx
already writing off the park using @northdetective ride relocator tool since at the current rate the park is going to be appartments/usf by the end of the decade
Our only hope is a hostile takeover or divestiture to an owner based in hospitality. Pray they sell off assets to Hershey. My dream was always UNI acquiring the park. Nature and animal experiences are some of the few categories UOR can't match WDW. Imagine the creative boundaries Universal could exceed. Entire park themed around exceptional original storytelling, ala Lost Continent. Until we have an operator focused on long-term hospitality, this park will spiral into a defunctland video.
sadly i think if they do sell file for bankruptcy/sell the land only SeaWorld texas and bgw will stay open under most likely hershend. BGT would probably become the college campus. seaworld san diego would become houses and orlando will be flatten for more univerisal property
Seaworld Orlando ain’t going nowhere. I don’t know who would buy it since Six Flags is struggling, heading for bankruptcy. Hearchend, I don’t see buying Texas or Orlando because they’re too smart to buy a park with the Seaworld name or anything related to a marine animal, and Enchanted is broke af. Besides that, the Seaworld parks do fine to my knowledge. I simply think BGT is the problem and it’s not gonna get better. Montu can only live so long. Cheetah is costing probably 250-500k bucks a year at this rate. The Sesame Land is probably fucked. Falcons is costing god knows how much. They just lost Kumba. The maintenance team is looking like they don’t give a shit about Gwazi. It’s looking like absolute dog shit. And not to even mention how much animals cost!! I can’t simply see this park being feasible down the road.
its also dogshit happening at orlando attendance down. plus the hiring freeze when they are desperate for people to work on weekends only . maintence is also a wreck at seaworld. plus a bunch of other stuff that just never opens anymore or are falling appart
This may not be for this thread but Enchanted Parks isn't broke. They only spent $27 million on the acquisitions themselves whereas the rest came from EPR. They're responsible for maintenance, upkeep, the lease payments, etc... They keep all of what they make beyond all of that. The lease payment is all EPR sees. EPR has a 2.0x requirement for their amusement parks. That means they won't even get into a Triple Net Lease with an operator unless the baseline net operating income is double the cost of the annual rent payment. They're still in the beginning stages but they aren't presently hurting moneywise unlike some of the other chains. They don't have the physical assets to help in that department though either as they all are owned by EPR.
With that said, Six Flags estimated that the parks generated $260 million in revenue and the EBITDA of said parks was around $45 million. Which means that EPR could safely charge around $22 million across the board. Those numbers will fluctuate based off what Enchanted may have spent this year. But, hypothetically speaking, subtracting EPR's rent and then subtracting La Ronde out of the equation seeing as they aren't operating that, they're set to clear $15 million to $18 million in year one before taxes and corporate overhead (which they are already streamlining). Again, they don't have the physical capital to their gain, but this also helps them. They can push EPR to help fund a new ride or something of that like. That cost then gets factored into the master lease and spread out over multiple years, hopefully being offset by increased ticket sales. EPR and Enchanted also have a really great relationship. Outside of other industries (where Top Golf is one of their largest partners), Enchanted is now the operator who operates the most parks in EPR's portfolio.
It's a different type of Wall Street being involved as its a real estate investment trust, but private investment hasn't been working too great for United. It wasn't bad under Blackstone but they weren't set on squeezing as much equity out of the place as possible. HillPath seems to be on the path of getting as much of that moolah as possible.
However, back to the topic at hand, I just don't see EPR and Enchanted going in on something like this together. Enchanted is still working on finding their footing and I think the leases of Frontier City and Darien Lake would be next, if anything (and Enchanted has already stated that they do plan to expand with further parks within the next few years). They may view these parks (SeaWorld and Busch), while being in great markets, as too much of a risk.
Just think back to when Cedar Fair, in the Matt Ouimet era, was considering a merger with SeaWorld. Ultimately, Blackfish was released a few months later and caused it not to move forward. But imagine a "what if". Maybe Cedar Fair would still be doing just fine and the SeaWorld plus Busch Gardens parks would be faring better (whether Blackfish happened or not). Of course, Six Flags may still be suffering, but maybe something else would've happened there. The merger between Cedar Fair and Six Flags most definitely would NOT have happened though.