Ardent Leisure, Village Roadshow splash out on theme parks

Both of the Gold Coast’s major theme park operators have pledged to invest more funds to attract more visitors.

An artist’s impression of Dreamworld’s new waterslide.

Both of the Gold Coast’s major theme park operators have pledged to invest more funds in their assets to attract more visitors as they look towards a “recovery phase” after attendance levels dropped last financial year.

Attendance at the Gold Coast’s five major theme parks has fallen by about 1.6 million people since the 2016 financial year, largely as sentiment fell in the wake of the Dreamworld tragedy in which four people died.

But Ardent Leisure — the ­operator behind Dreamworld and WhiteWater World — and Village Roadshow, which runs Movie World, SeaWorld and Wet n Wild, are looking to make a comeback, announcing new ride and experience offerings to make up lost ground.

“If we deliver a great experience, that’s our future. And that’s what we’re about,” Village Roadshow’s exiting chief Graham Burke told investors when unveiling the company results.

Attendance at both operators’ parks fell last financial year, but a ticket pricing restructure and special promotions helped revenue rise. While Ardent’s overall revenue was down last financial year compared with the previous ­period, the theme park arm lifted a slight 0.5 per cent to $67.1m.

Village Roadshow’s Gold Coast parks revenues rose 8.9 per cent to $271.4m.

Punters are spending an extra 13.1 per cent per capita at Ardent parks, which theme parks division chief John Osborne attributes to rising market demand.

“This thematic suggests that there is pent-up demand in the market and, with careful investment in new product, Dreamworld can win more than its fair market share of the expected industry recovery and restore its earnings to historical levels or better over the next three to five years,” he said.

To coax visitors back, both operators are banking on the appeal of rollercoasters.

Mr Burke admitted SeaWorld had become “a little tired”, but hoped the latest investment could restore it to its former glory with the delivery of Australia’s first wooden rollercoaster slated for 2021.

Learning from the delays of its Space Voyager coaster addition, Dreamworld says it will start building a 1.2km rollercoaster later this year with a longer delivery timeline.

WhiteWater World will also be transformed, with a new water slide complex to be added, followed by a refurbishment of existing assets, while portions of Movie World’s “The New Atlantis” will be delivered next year.

SeaWorld Resort delivered a record operating profit through strong occupancy and an increase in average room rates.

“People want to stay at the park. If we had another 400 rooms, I think we could fill them,” Mr Burke said.

No expansion to the resort’s current offering is in the works.