UAE: DXB Entertainments Announces First Half 2017 Financial Results
DXB Entertainments (DXBE) – a spin-off company of real estate developer Meraas – has presented its first half 2017 financial results (January 1st until June 30th, 2017). According to DXBE, its Dubai Parks and Resorts theme park complex, which was opened in 2016, welcomed more than one million visitors in the first half of this year. Over 414,400 guests visited the parks in the second quarter – a slight decrease in visitor attendance due to the strong summer heat in the Middle East. In total, DXBE recorded total revenues of around 27.7 million EUR (119.6 AED) in the second quarter, of which the theme parks generated approx. 20 million EUR (86.5 million AED). The LapitaTM Hotel contributed around 2.6 million EUR (11.4 million AED) to the total revenues.
Furthermore, DXBE announced to take over the management of several entertainment and leisure destinations of the Meraas’ portfolio, including Hub Zero, Splash Pad, The Green Planet, Mattel Play Town and Roxy Cinemas. Furthermore, three new divisions have been created to enhance the effective management of DXBE’s assets and their return potential: Theme Parks, Family Entertainment Centers and Retail & Hospitality. Ahmad Hussain has been named General Manager of the theme parks division, Ahmed AlRayyes is General Manager of the retail & hospitality arm. New Vice President of Marketing for all assets is Hani Soubra.
“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,” added DXBE CEO Mohamed Almulla. (eap)
