Dubai Parks and Resorts tickets to get cheaper
The company has been restructured into three business verticals
If you're planning to visit Dubai Parks and Resorts, here is good news for you.
DXB Entertainment said on Wednesday that it's revising annual pass offerings to include competitive pricing, special offers and additional discounts.
"For the remainder of 2017 and into 2018, our primary strategy for Dubai Parks and Resorts is to drive visitor volumes, focusing on repeat visitation from the resident and regional markets. We are in the process of simplifying our pricing structure and revising our annual pass offering to include competitive pricing, special offers and an attractive package of additional discounts and benefits.
"Internationally, we will continue to focus on the core source markets of China, Russia, India, the UK and Germany through our tour and travel network," Mohamed Almulla, CEO, DXB Entertainments, said on Wednesday.
Almulla expects to generate moderate visitor figures due to the hot weather in the third quarter and plans to achieve an increase in visitation and revenue during Q4.
Dubai Parks and Resorts recorded over one million visits during the first six months of the year with over 414,400 during the second quarter, reflecting the anticipated reduction in attendance due to seasonality.
DXB Entertainments (DXBE) said the company has been restructured into three business verticals and also announced Dh578 million loss for the first six months of 2017.
Three new divisions - theme parks, family entertainment centres and retail and hospitality - have been created to enhance the effective management of DXBE's assets and their return potential.
"This strategy will enable DXBE to generate value for its shareholders through the operation of the region's largest portfolio of leisure and entertainment assets. The new structure and the industry-specific talent we are bringing on board will help to drive value across DXBE's leisure and entertainment portfolio," Almulla said.
DXBE has also entered into a management agreement with Meraas to manage a portfolio of leisure and entertainment offerings including Hub Zero, Splash Pad, The Green Planet, Mattel Play Town and Roxy Cinemas. DXBE intends to seek further opportunities to manage complementary leisure and entertainment offerings in the UAE, the company said.
Dh119.6m Q2 revenue
DXBE reported Dh119.6 million in total revenue during the second quarter of the year of which Dh86.5 million was through theme parks. As at June 30, 2017, DXBE had leased out 51 units at Riverland Dubai, representing 84 per cent of the available leasable space, and Dh8 million of total revenue was driven by leasing and non-leasing revenue generated in Riverland Dubai.
The company said rent relief has been provided to tenants during the peak summer months, which is reflected in the lower leasing revenue for the second quarter.
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