United Parks & Resorts Inc.

United Parks & Resorts Inc. owns and operates a portfolio of theme parks and entertainment venues in the United States and the United Arab Emirates. Its parks include SeaWorld, Busch Gardens, Aquatica, Discovery Cove and Sesame Place, combining rides, shows, water attractions and zoological exhibits across 13 differentiated properties.

32,5 %

10,1 %

−3,6 %

0.73

0.60

— United Parks & Resorts Inc.
%
Admissions52% Entrance tickets, passes and other admission revenue for the park portfolio.
In-park food and beverage18% Food and beverage purchases made by guests inside the parks.
Merchandise and retail10% Branded merchandise, retail sales and related guest purchases.
Parking and guest services8% Parking, service fees and other ancillary guest spending.
International and other revenue12% Other revenue streams, including international agreements and miscellaneous items.

The company serves families, local day-trippers, regional visitors and destination travelers who buy admission and...

  • Families and leisure visitorsprimary

    Buy admission and in-park food/merchandise for family outings and entertainment.

  • Local and regional day visitorsprimary

    Visit nearby parks for shorter trips and recurring leisure spending.

  • Domestic destination travelerssecondary

    Travel to flagship parks and spend more on admissions and ancillary items.

  • International visitorssecondary

    Visit destination parks, especially in major tourism markets, and support higher per-capita spending.

  • Schools and organized groupsemerging

    Purchase group admissions and educational experiences tied to animal and conservation themes.

United Parks & Resorts operates 13 parks grouped across key U.S. markets and the United Arab Emirates...

  • •Operations span the United States and the United Arab Emirates
  • •Revenue is historically concentrated in Florida, California and Virginia
  • •Parks are near major metro areas and large tourism destinations
  • •Orlando is a highly competitive destination market for the company
  • •Geography affects attendance through weather, travel and tourism flows

The company focuses on improving the guest experience through new attractions, park maintenance and facility upgrades...

01
Refresh parks with new attractions and capital projectsmedium-term

New and maintained attractions help sustain attendance and guest spending.

02
Improve operating efficiency and labor alignmentshort-term

A seasonal park model requires staffing and cost structure to match demand.

03
Protect and extend differentiated brandslong-term

Recognized brands and zoological content support pricing power and repeat visitation.

Attendance and guest spending are sensitive to weather, consumer confidence, travel patterns and discretionary...

high

Attendance and guest spending volatility

Park revenue depends on discretionary leisure demand and weather-sensitive visitation.

Scope
Admissions and in-park spending
Materiality
high
high

Animal welfare regulation and activist scrutiny

The parks feature live animals and zoological exhibits that attract regulatory and public attention.

Scope
SeaWorld-branded and zoological parks
Materiality
high
high

Seasonality and fixed-cost leverage

Theme park operations carry high fixed costs, so lower attendance can quickly reduce margins.

Scope
All parks
Materiality
high
high

Regional concentration

A significant portion of revenue comes from Florida, California and Virginia, increasing exposure to local shocks.

Scope
U.S. coastal and tourism markets
Materiality
high
medium

Cybersecurity and technology interruptions

Ticketing, guest data and park operations rely on IT systems and online channels.

Scope
Websites, ticketing and internal systems
Materiality
medium
Revenue recognition for admissions and in-park spending
Affects reported revenue by period and mix between admissions and ancillary spending
Long-lived asset impairment
Can create material non-cash charges if park economics weaken
Self-insurance reserves
Affects operating expenses and balance sheet liabilities
Seasonality
Makes quarterly revenue and margin trends less comparable
Income taxes and valuation assumptions
Can affect effective tax rate and carrying values of assets

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: 29/04/2026