Mr. Letamendia is VP of Business Development at Parques Reunidos. Be sure to download the entire presentation here.
The list of potential operational issues is lengthy, but a quick summary of some salient points is as follows.
At all costs, the vicious circle must be avoided. This is a cascading set of problems that results from the development and operational issues above.
Premature opening dates and operational issues result in poor performance, and can cause the park to come under criticism on social media and elsewhere.
In response to this, owners often undertake drastic decisions such as aggressive discounting.
This further exacerbates underperformance, which may lead to staff reductions and an inability to provide the level of service demanded by guests. In some cases, a reduction in staff, staff training, and services can lead to accidents and security incidents.
In extreme cases, this cycle can lead to the collapse of a park.
About Parques Reunidos:
One of the leading global operators of regional leisure parks and one of the three truly global leisure park operators.
After 50 years in the sector, we now operate a well-diversified portfolio of more than 60 different assets (theme parks, zoos and marine parks, water parks, indoor entertainment centers and other attractions), spread out over various countries across Europe, North America, the Middle East, and Australia. Our asset diversity has placed us as the second-largest leisure park operator in Europe and the eighth-largest leisure park operator worldwide.
Overall, our parks received a total of approximately 20 million visitors every year, a number that materializes the success of our three-format business model: operation of fully-owned parks, operation of third-party parks, and consultancy for park developers.
We have a highly experienced and committed management team with a proven track record across different geographical areas and economic cycles.
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