Group 1 - SeaWorld parks are offering free one-day admission for U.S. military veterans and up to three guests as part of Military Appreciation Month, with registration open until May 11 and visits allowed until July 6 [1][3] - The Waves of Honor program has provided complimentary park access to over 10 million military guests, including active-duty members, veterans, and their families over the past 20 years [2] - Active-duty military personnel and their dependents can enjoy one complimentary admission per year, with additional discounts available through military base programs [4] Group 2 - SeaWorld is recognized as a leading marine life theme park and accredited zoo, focusing on education and conservation, welcoming millions of guests annually [6] - The company has contributed over $20 million to nearly 1,400 organizations for marine conservation research since the establishment of the SeaWorld Conservation Fund in 2003 [6] - SeaWorld operates parks in Orlando, San Antonio, San Diego, and Abu Dhabi, and is part of the United Parks & Resorts portfolio [6]

Core Concept - SeaWorld Orlando is set to open Expedition Odyssey, an innovative Arctic-themed attraction on May 1, 2025, which combines advanced ride technology with real-world footage and wildlife encounters to create an immersive experience [1][8]. Attraction Features - Expedition Odyssey features a next-generation ride system that offers a wide range of motion, enhancing the realism of the experience as guests navigate through glaciers, tundra, and the Arctic Ocean [2][3]. - The attraction includes custom-shot video footage from remote Arctic locations, providing authenticity and showcasing iconic Arctic wildlife such as polar bears, orcas, and walruses [3]. Family-Friendly Experience - Designed for adventurers of all ages, Expedition Odyssey has a height requirement of only 39 inches, allowing both children and adults to enjoy the experience together [4]. - The attraction is fully indoors, ensuring a year-round experience regardless of weather conditions [4]. Animal Encounters - After the ride, guests can engage in face-to-face encounters with real Arctic animals, including beluga whales and seals, enhancing the educational aspect of the attraction [5][6]. - Uki, a rescued Pacific walrus calf, will be introduced in her new habitat, providing a unique connection for guests [6]. Exclusive Experiences - SeaWorld offers behind-the-scenes experiences, such as the Beluga Whales Up-Close Tour, allowing guests to learn about marine mammals and their conservation [7]. Annual Pass Benefits - An Annual Pass provides unlimited visits, early access to Expedition Odyssey, free parking, and discounts on food and merchandise [9][10]. Company Overview - SeaWorld is a leading marine life theme park and accredited zoo, focusing on education and conservation, welcoming millions of guests annually [11]. - The company has a strong commitment to marine life conservation, having rescued over 41,000 animals and contributed more than $20 million to research initiatives [11].

DOWNLOAD MEDIA ASSETS HERE ORLANDO, Fla., March 26, 2025 /PRNewswire/ -- SeaWorld Orlando has reached a historic milestone – 1,000 manatee rescues – marking a significant step in the ongoing fight to protect this vulnerable species. This achievement highlights SeaWorld's leadership in marine conservation, reinforcing its critical role in rescue, rehabilitation and return efforts. SeaWorld Orlando has spent nearly five decades committed to marine wildlife conservation and rescue. Since 1976, SeaWorld Orlando ...

Core Insights - SeaWorld and The Pinkfong Company are collaborating to celebrate the 10th anniversary of Baby Shark with exclusive live character interactions and a new animated music video [1][2] - The celebration will feature immersive Baby Shark-themed experiences across SeaWorld parks, enhancing family engagement and promoting marine life conservation [2][6] Company Overview - SeaWorld is a leading marine life theme park and accredited zoo and aquarium, focusing on education and conservation while welcoming millions of guests annually [6] - The company has a strong commitment to marine life conservation, having helped over 41,000 animals and contributed more than $20 million to nearly 1,400 organizations since 2003 [6] Event Details - The new 2-minute animated music video will premiere on April 30, showcasing Pinkfong and Baby Shark as veterinarians at SeaWorld [3][4] - The Baby Shark celebration will include live character meet-and-greets, themed activities, food, and merchandise across SeaWorld parks [7] Marketing and Engagement - The collaboration aims to create memorable experiences for families, reinforcing the educational aspect of marine life conservation [2][6] - A national sweepstakes will be held for fans to win Baby Shark merchandise and tickets to SeaWorld [7]

Core Insights - SeaWorld San Diego has launched "Jewels of the Sea: The Jellyfish Experience," the largest standalone jellyfish exhibit in the United States, now open to the public [1][2] Exhibit Features - The exhibit features nine unique jellyfish species displayed in over 15 aquariums, including one of the largest jellyfish cylinders in the country and a fully interactive LED gallery [3] - Visitors can explore three distinct galleries that provide insights into jellyfish biology, life cycle, and their habitats, from shallow mangrove forests to deep ocean trenches [2][4] Educational and Conservation Focus - The exhibit emphasizes marine education and conservation, showcasing the importance of jellyfish in ocean ecosystems [4][6] - A life-sized Lion's Mane Jellyfish sculpture made from upcycled marine debris has been installed to raise awareness about plastic pollution and its impact on marine life [5][6] Visitor Engagement - SeaWorld offers a "Jelly Up-Close Tour," allowing guests to engage with jellyfish in an educational setting and learn about the jellyfish propagation program [6] - Special promotions are available, including discounts of up to 55% on tickets and annual passes, encouraging visitors to experience the new attraction [8][9] Company Background - SeaWorld is a leading marine life theme park and accredited zoo and aquarium, dedicated to marine conservation and education, welcoming millions of guests annually [10] - The organization has a strong commitment to marine life rescue, having helped over 41,000 animals and contributed more than $20 million to conservation efforts globally [10]

Core Concept - SeaWorld Orlando has announced the launch of "Expedition Odyssey," a groundbreaking Arctic-themed attraction set to open in Spring 2025, combining advanced ride technology with immersive real-world footage and wildlife encounters [1][2][11]. Attraction Features - "Expedition Odyssey" is described as a first-of-its-kind adventure that merges dynamic motion, state-of-the-art visuals, and real animal interactions, providing an exhilarating journey through the Arctic environment [2][3]. - The attraction features a revolutionary ride system that allows for a wide range of motion, enabling guests to experience the fluidity of ocean currents while navigating through the Arctic [3][4]. - Guests will encounter real wildlife, including beluga whales and polar bears, through stunning live-shot video footage captured in remote Arctic locations, enhancing the immersive experience [5][6]. Guest Experience - The ride includes seamless transitions to real-world encounters with live Arctic animals, offering guests opportunities to learn about marine life and conservation [7][8]. - Designed to be family-friendly, the attraction has a height requirement of just 39 inches, making it accessible for both children and adults [9]. Company Commitment - SeaWorld emphasizes its commitment to innovation and conservation through this new attraction, aiming to create memorable experiences that resonate with guests [11]. - The company has a long-standing history of marine life conservation, having rescued over 41,000 animals and contributed more than $20 million to conservation efforts globally [13].

Core Insights - SeaWorld San Antonio has launched a new attraction called Rescue Jr., aimed at children aged three to five, featuring interactive rides and educational experiences related to animal rescue and rehabilitation [1][2][3] - The park is offering a free Preschool Card for young children, allowing unlimited admission throughout 2025, which is part of a promotional strategy to attract families during the Spring Break season [1][3] - The new attraction includes various rides such as Beach Rescue Racer, Ocean Quest Express, Tide Pool Tumble, Seabird Swing, and Ocean Rescue Carousel, designed to engage young visitors in fun and educational ways [6] Company Overview - SeaWorld is a leading marine life theme park and accredited zoo and aquarium, focusing on education and conservation efforts while providing enriching experiences for guests [5][7] - The company has a strong commitment to marine life conservation, having rescued over 41,000 animals and contributed more than $20 million to various conservation organizations through its SeaWorld Conservation Fund [7] Promotional Strategies - The park is currently running a Spring Break Sale, where parents can purchase a SeaWorld Pass and receive free access to Aquatica, enhancing the value proposition for families [1][3] - The free Preschool Card registration is time-limited, encouraging quick sign-ups to maximize attendance during the attraction's debut [3]

Group 1 - The analyst assigned a hold rating to United Parks & Resorts (NYSE: PRKS) in December, citing uncertainty in near-term demand due to the macroeconomic environment and the impact of the Epic Universe opening [1] - The investment approach focuses on value investing principles, emphasizing the purchase of quality companies at a discount to their intrinsic value for long-term growth [1] - The analyst believes in allowing companies to compound their earnings and shareholder returns over time [1]

Theme Parks and Attractions - The company operates 12 theme parks, which include three of the top 20 theme parks and four of the top 10 water parks in North America, as measured by attendance[30]. - The combined theme park portfolio features over 800 attractions, including 74 animal habitats, 162 programs, and 206 rides, along with 360 other attractions[30]. - SeaWorld Orlando opened Penguin Trek in 2024, a multi-launch family coaster, and was ranked among the top 10 theme parks in North America by attendance[34]. - SeaWorld San Antonio opened Catapult Falls in 2024, the world's first launched flume coaster, and is one of the largest marine-life theme parks, covering 397 acres[34]. - Busch Gardens Tampa Bay ranked among the top 20 theme parks in North America by attendance according to the TEA/AECOM 2023 Report[35]. - Aquatica Orlando was ranked the 3 most attended water park in North America according to the TEA/AECOM 2023 Report[35]. - Aquatica San Antonio was ranked the 6 most attended water park in North America according to the TEA/AECOM 2023 Report[35]. - Discovery Cove was ranked the 19 most attended water park in North America according to the TEA/AECOM 2023 Report[35]. - Sesame Place Philadelphia was the first theme park in the world designated as a Certified Autism Center[35]. - Sesame Place San Diego opened in 2022 and features an interactive Sesame Street Neighborhood[36]. - Water Country USA was ranked the 5 most attended water park in North America according to the TEA/AECOM 2023 Report[38]. - Adventure Island was ranked the 7 most attended water park in North America according to the TEA/AECOM 2023 Report[38]. - In 2024, Busch Gardens Tampa Bay opened Phoenix Rising, a family suspended coaster[35]. - In 2024, Aquatica Orlando opened Tassie's Underwater Twist, an immersive water slide[35]. - The company opened numerous new rides and attractions in 2024, including 2 of the top 10 Best New Amusement Park Attractions of 2024[42]. - The company features new attractions such as the immersive flying experience at SeaWorld Orlando and the longest family inverted coaster in North America at Busch Gardens Williamsburg[43]. Financial Performance and Investments - The company generates significant annual operating cash flow, even in years of declining performance, aided by some parks being open year-round[30]. - The company is committed to annual targeted investments to support existing theme park facilities and attractions, which is critical for revenue growth and guest experience[41]. - The company has a total of 74 animal habitats, 206 rides, 162 shows, and 360 other offerings in its theme park portfolio for 2024[40]. - The company ranked 9 for the Nation's Best Amusement Park for 2024 and 8 for 2023, with Iron Gwazi being recognized as the 1 Best New Roller Coaster for 2022[39]. - The parks utilize demand-based pricing and advance purchase discounts to manage capacity and maximize revenue[68]. Animal Care and Conservation - The company is committed to animal rescue and conservation, having helped over 41,000 ill, injured, orphaned, and abandoned wild animals[32]. - SeaWorld has helped over 41,000 animals across various species, including over 300 manatees in the past six years[54]. - The SeaWorld Coral Rescue Center, opened in 2023, is the largest public-facing coral-recovery exhibit dedicated to Atlantic coral conservation in the U.S.[56]. - The company provides care for one of the largest zoological collections globally, with a commitment to world-class animal care standards[49]. - The company supports community initiatives focused on animal preservation, youth development, and environmental sustainability[32]. Environmental and Social Responsibility - The company emphasizes environmental and social responsibility, aiming to inspire guests to protect animals and the planet[48]. - The company has removed all plastic straws and shopping bags since 2018 as part of its waste management initiatives[61]. - The company has invested in renewable energy and energy efficiency projects, including solar panels and LED lighting retrofits[59]. - The solar carport at SeaWorld San Antonio, opened in 2024, is expected to generate approximately 16% of the park's annual energy needs[59]. - SeaWorld's Responsible Food Sourcing Policy includes sourcing seafood from environmentally responsible suppliers and offering cage-free eggs[62]. - SeaWorld's in-park dining programs focus on providing quality food options, including sustainable and locally grown ingredients[70]. Corporate Structure and Strategy - The company changed its corporate name from SeaWorld Entertainment, Inc. to United Parks & Resorts Inc. on February 12, 2024, with the ticker symbol changing from "SEAS" to "PRKS" on February 13, 2024[105]. - As of December 31, 2024, approximately 49.4% of the company's total outstanding common stock is owned by Hill Path Capital LP[104]. - The company has secured long-term corporate sponsorships, including partnerships with Coca-Cola, contributing to marketing and conservation efforts[76]. - The license agreement with Anheuser-Busch grants a perpetual, exclusive, worldwide, royalty-free license for the Busch Gardens trademark, enhancing brand presence[80]. - The Sesame License Agreement allows the company to operate Sesame Place theme parks and utilize Sesame Street elements, with an initial term through December 31, 2031[84]. - The company has expanded its brand appeal through strategic alliances with well-known external brands, enhancing consumer loyalty[72]. Regulatory and Compliance Issues - Regulatory compliance is crucial, with operations subject to various federal, state, and local laws, including animal welfare and environmental regulations[94]. - Recent regulatory developments include proposed amendments to the Animal Welfare Act, which may impact operations in the future[95]. - The company is subject to complex federal and state regulations governing the treatment of animals, which can change and may impact operations[101]. - The company has adopted a Code of Business Conduct and Ethics applicable to its directors, officers, and employees, ensuring compliance with legal and ethical standards[106]. - The company has not reintroduced the SWIMS Act or the National Amusement Park Ride Safety Act in the 119th Congress, which may affect regulatory compliance and operational strategies[99][100]. Market Conditions and Competition - The theme park industry is characterized by a proven business model that generates significant cash flow and offers strong consumer value compared to other entertainment options[90]. - The competitive landscape includes major players like The Walt Disney Company and Universal Parks, with competition based on location, price, and quality of attractions[91]. - The company continues to evaluate international opportunities for growth, assessing potential value in various markets[89]. - The COVID-19 pandemic significantly impacted group events and attendance in 2022 and parts of 2023, affecting both domestic and international travel[75]. Operational Challenges - The company faces significant inflationary pressures affecting costs of food, merchandise, fuel, construction, and labor, which may impact operations[109]. - Approximately $1.5 billion of the company's outstanding long-term debt represents variable-rate debt, with a hypothetical 100 bps increase in Term SOFR potentially increasing annual interest expense by approximately $22.4 million[327]. - The company has no interest rate swap agreements outstanding as of December 31, 2024, and manages interest rate risk primarily through the amount, sources, and duration of its debt funding[326]. - The company has formed various committees to enhance oversight over operations in the current challenging labor market[26]. - SeaWorld employs approximately 3,300 full-time and 13,400 part-time and seasonal employees as of December 31, 2024[63].

Financial Data and Key Metrics Changes - In Q4 2024, total revenue was $384.4 million, a decrease from Q4 2023, primarily due to a decrease in attendance, partially offset by an increase in total revenue per capita [66] - Attendance decreased by approximately 79,000 guests or 1.6% compared to the prior year quarter, largely due to adverse weather conditions [67] - For the full year 2024, total revenue was $1.73 billion, a decrease of $1.3 million or 0.1%, with total attendance at 21.5 million guests, a decrease of approximately 59,000 guests or 0.3% [71] Business Line Data and Key Metrics Changes - Total revenue per capita increased by 0.4%, while admission per capita decreased by 1.9%, and in-park per capita spending increased by 3.5% [68] - The increase in in-park per capita spending was attributed to pricing initiatives compared to Q4 2023 [68] Market Data and Key Metrics Changes - The company reported a strong balance sheet with approximately $798.4 million in total available liquidity and a net total leverage ratio of 2.94 times as of December 31, 2024 [72][22] - The deferred revenue balance decreased by approximately 1.9% compared to December 2023, indicating a shift in customer payment preferences [76] Company Strategy and Development Direction - The company plans to invest approximately $225 million in CapEx for 2025, with $175 million allocated for core CapEx and $50 million for expansion and ROI projects [78] - Strategic initiatives include hotel development, real estate monetization, and international partnerships, with expectations for significant revenue growth from these areas [36][38] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving record revenue and adjusted EBITDA in 2025, assuming normal weather conditions [14] - The company anticipates benefiting from increased visitation to the Orlando market due to the opening of Universal's Epic Universe Park [41] Other Important Information - The company repurchased 9.4 million shares, approximately 15% of total shares outstanding, at a total cost of approximately $482.9 million in 2024 [75] - The company has a disciplined capital allocation strategy focusing on business investment, debt paydown, M&A, and returning capital to shareholders [24][27] Q&A Session Summary Question: How does the company view the impact of the new Epic Universe Park on attendance? - Management views the opening of Epic Universe as a positive opportunity, expecting it to increase overall visitation to the Orlando market, which could benefit their parks [87][90] Question: What are the expectations for 2025 EBITDA compared to Wall Street consensus? - Management believes Wall Street consensus estimates for 2025 EBITDA are significantly below their internal expectations, indicating confidence in achieving higher performance [93][94] Question: What are the trends observed in Q1 2025 so far? - Management noted that January was abnormally cold, impacting attendance, but February showed improvement, with overall attendance up on a day-to-day basis [100] Question: Is there any evidence of visitation deferral ahead of the Epic opening? - Management does not currently see clear evidence of visitation deferral, emphasizing that a significant portion of their attendance comes from local visitors [104] Question: What are the key factors affecting attendance growth and pricing strategy? - Management aims to grow total revenue while also focusing on pricing, with expectations to capture more attendance through new attractions and events [110][112]