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FILE – This Jan. 31, 2017, file photo, shows the entrance to SeaWorld, in Orlando, Fla. SeaWorld Entertainment Inc. on Tuesday, Feb. 11, 2020, agreed to pay $65 million to settle a lawsuit in which the theme park company was accused of misleading investors over the impact the documentary “Blackfish” was having on its bottom line. SeaWorld did not admit to any wrongdoing under the terms of the settlement filed with the U.S. Securities and Exchange Commission. .(AP Photo/John Raoux, File)
ORLANDO, Fla. (WESH) – SeaWorld Entertainment revealed Thursday its theme parks suffered a $79 million loss in the third quarter as attendance dropped over 81% this summer due to the pandemic.
“To me, it’s really in line with what the other companies are seeing. Of course, it’s disappointing. No company wants to see this but you really have to keep in mind they closed for a full quarter,” said Carissa Baker, an assistant professor of theme park and attraction management at the University of Central Florida’s Rosen College of Hospitality Management.
Baker says there were some bright spots in the report.
Attendance improved later in the summer, and by the end of September, 10 of the company’s 12 parks, including five in Florida, were reopened after closing for the pandemic.
“SeaWorld has a lot of locals, and I just think that’s a big target market for them and they’ve been doing their best to leverage the situation. Unlike the other major companies, they did a Halloween event and they will be doing a Christmas event,” Baker said.
SeaWorld has tightened its belt, cutting operating costs and laying off at least 1,900 workers at its Orlando properties.
As for the company’s future, Baker said as long as SeaWorld does not have to close down again, it can survive.
“I think as long as they are able to stay open, all three of the major companies in Florida will survive,” Baker said.
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