United Parks and Resorts (NYSE: PRKS ) is without a doubt my highest conviction investment at this time. In early 2024, the company, previously known as SeaWorld Entertainment, changed its name to United Parks and Resorts. For simplicity, I will refer toBackground in corporate finance at multiple Fortune 200 companies including real-estate, media, and banking. Believe strongly in detailed analysis of company balance sheets and income statements, going into deeper detail than the average investor. Look to id ...

Core Points - SeaWorld Orlando is launching a promotion offering free draft beer for guests aged 21 and older, available daily from 12 p.m. until one hour before park close [1][4] - The park is hosting a Summer Spectacular celebration featuring new attractions, including a drone show and live entertainment [2][5] Promotions and Offers - Guests can enjoy one complimentary 7 oz. draft beer per visit, while Pass Members can receive up to two per day [1][4] - An Annual Pass promotion includes a free upgrade to the next tier, unlimited visits, and special benefits such as discounted drinks at select bars [5][6] New Attractions and Events - The newly opened Expedition Odyssey offers an immersive Arctic flying theater experience with real wildlife encounters [5] - A first-of-its-kind drone show will synchronize with music and transition into a fireworks display, enhancing the park's evening entertainment [5] - Other new shows include Hydro Surge, Baby Shark's Big Celebration, and fan-favorite events like the Shamu & Crew Parade and Rescue Tails [5] Company Overview - SeaWorld is a leading marine life theme park and accredited zoo, focusing on education and conservation of marine life [7] - The organization has rescued over 42,000 animals and has contributed more than $20 million to conservation efforts globally [7]

Core Insights - Busch Gardens Williamsburg has launched its newest family attraction, The Big Bad Wolf: The Wolf's Revenge, which is North America's longest family inverted coaster featuring over 2,500 feet of track and speeds up to 40 miles per hour [1][2] Group 1: Attraction Details - The ride is designed to provide a highly immersive experience set in a Bavarian village, where riders encounter a terrifying creature [1] - The coaster is accessible for children with a minimum height requirement of 42 inches when accompanied by an adult and 48 inches unaccompanied, making it suitable for families [1] Group 2: Opening and Reception - The park held a Grand Opening Ceremony that included a ribbon cutting, ceremonial first ride, and a DJ dance party, attended by local dignitaries and Wolf Scouts [2] - Early reviews from park members who previewed the ride were enthusiastic, indicating a strong positive reception and eagerness to experience the ride again [3] Group 3: Company Background - Busch Gardens Williamsburg is part of United Parks & Resorts Inc. and features over 100 acres of attractions, including top-rated roller coasters and award-winning entertainment [5]

Core Insights - Universal's new theme park, Epic Universe, opens in Orlando, featuring attractions from major franchises like Harry Potter and Super Mario, posing a competitive challenge to Disney World [1][2] - Disney's parks chief, Josh D'Amaro, views the opening of Epic Universe as an opportunity rather than a threat, suggesting it could attract more tourists to the area, benefiting Disney as well [3][4] Market Impact - If Epic Universe succeeds, it may divert attention from Disney's parks, but Universal aims to be a strong competitor rather than directly overtake Disney [3][10] - Disney's US parks bookings are projected to increase by 4% to 7% in the next two quarters, with a 9% rise in parks revenue reported despite economic challenges [9][10] Consumer Behavior - Travel agents report a 9% increase in Universal bookings ahead of Epic's launch, while Disney bookings are expected to grow by 18% this year, indicating strong demand for both parks [10][11] - Some analysts express skepticism about the "rising tide lifts all boats" sentiment, suggesting that Epic Universe may still impact Disney's market share negatively [11][12] Economic Considerations - Economic conditions may influence consumer choices between Disney and Universal, with some potential visitors indicating they would prefer Universal if the economy were better [14]

Core Concept - Busch Gardens Tampa Bay is set to open Wild Oasis, a new immersive adventure realm for families, with previews for Pass Members starting May 30 and a full opening on June 6 [1][2]. Group 1: Wild Oasis Features - Wild Oasis is inspired by rainforests and includes animal encounters, rides, and interactive play zones designed for family entertainment [1][2]. - The new area will feature Habitat Hideaway, showcasing over 200 animal species, including capybaras, giant anteaters, squirrel monkeys, and tropical birds, with unique viewing perspectives [3]. - The Tree Top Drop, a 35-foot drop tower with multimedia experiences, will be introduced later in June, catering to younger thrill-seekers [4]. Group 2: Attractions and Activities - Wild Oasis will offer various attractions such as the Canopy Climb, an expansive climbing structure, and Enchanted Falls, an interactive splash pad for younger visitors [5]. - The Rainforest Quest will provide a self-guided educational scavenger hunt, promoting exploration and understanding of nature's interconnectedness [5]. Group 3: Annual Pass Benefits - Busch Gardens is promoting its Annual Pass program, which offers early access to Wild Oasis and significant savings during a limited-time Memorial Day Sale, with discounts up to 50% on tickets and passes [6]. - The Annual Pass includes benefits like unlimited year-round admission, free parking, in-park discounts, and monthly payment options starting at $15 [6]. Group 4: Company Overview - Busch Gardens Tampa Bay spans 300 acres and combines thrilling rides with an AZA accredited zoo featuring over 16,000 animals from more than 200 species, providing diverse experiences for all ages [8][9].

I gave a hold rating to United Parks & Resorts (NYSE: PRKS ) in March, with my key concern being that the demand outlook is highly uncertain because of the upcoming launch of Universal’sI'm a passionate investor with a strong foundation in fundamental analysis and a keen eye for identifying undervalued companies with long-term growth potential. My investment approach is a blend of value investing principles and a focus on long-term growth. I believe in buying quality companies at a discount to their intrins ...

Summary of Walt Disney Company (DIS) Conference Call - May 14, 2025 Company Overview - **Company**: Walt Disney Company (DIS) - **Date of Conference**: May 14, 2025 Key Points Industry and Market Insights - **Theme Park Demand**: For every theme park visitor, there are believed to be 10 potential visitors who have not yet had the opportunity to experience Disney parks [1][3] - **Abu Dhabi as a Strategic Location**: The company identified Abu Dhabi as a significant market, with a four-hour flight radius encompassing one-third of the world's population and 120 million annual passengers arriving in the region [2][3] - **Consumer Base**: There are approximately 5 billion consumers in the region with the right affinity and income to visit Disney parks [3] Strategic Partnerships and Investments - **Partnership with Morale Group**: Disney will control all creative and design elements while Morale Group will fully fund and operate the new theme park in Abu Dhabi, indicating a strategic partnership model tailored to the market [5][6][8] - **Investment Plans**: A ten-year roadmap includes a $60 billion investment in new attractions, lands, hotels, and ships, reflecting a commitment to growth and innovation [24][32] Brand and Experience Enhancement - **Disney Flywheel Effect**: The opening of new parks enhances Disney's premium intellectual property (IP) and creates brand ambassadors, as seen with the success of Shanghai Disney Resort [10][11] - **Integration of Technology**: The company is leveraging technology to enhance guest experiences, including the Disney Genie app, which optimizes park visits based on guest preferences [35][36] Financial Performance and Projections - **Return on Invested Capital (ROIC)**: The ROIC has increased by 3x over the past decade, demonstrating effective capital deployment strategies [39][40] - **Operational Income Growth**: Domestic parks reported a 13% year-over-year growth in operating income, while consumer products saw a 14% increase [52] Competitive Landscape - **Response to Universal's Epic Universe**: Disney maintains a proactive investment strategy to ensure its parks remain competitive, emphasizing that new attractions in Central Florida will not cannibalize Disney's existing visitor base [42][50] Consumer Accessibility and Pricing Strategies - **Affordability Initiatives**: Disney is focused on creating flexible pricing structures to make visits more affordable for families, while maintaining high value in the guest experience [57][61] - **Dynamic Pricing Models**: The company uses data-driven pricing strategies to manage attendance and maximize guest satisfaction [63] Cruise Line Expansion - **Growth in Cruise Business**: Disney Cruise Line plans to double its fleet to 13 ships, with strong demand and high customer satisfaction reported [64][66] - **Brand Ambassadorship**: Cruise ships serve as effective brand ambassadors, enhancing Disney's market presence in new ports [66][68] International Expansion - **Success of International Parks**: The international parks, including Disneyland Paris and Shanghai Disney Resort, have shown strong performance and brand elevation, contributing positively to the overall portfolio [71][73] Future Outlook - **Long-term Vision**: The company remains focused on long-term growth, continuously adapting to consumer preferences and market changes [76][78] - **Excitement for Upcoming Projects**: There are numerous ongoing projects and expansions across parks globally, indicating a robust pipeline for future growth [81][82] This summary encapsulates the key insights and strategic directions discussed during the conference call, highlighting the company's commitment to growth, innovation, and enhancing guest experiences across its diverse portfolio.

Core Concept - SeaWorld Orlando has launched a new attraction called Expedition Odyssey, which offers an immersive Arctic experience combining advanced ride technology, real-world footage, and close encounters with Arctic wildlife [1][2][3] Attraction Features - Expedition Odyssey features a next-generation ride system with dynamic motion, providing a realistic experience as guests journey through glaciers, tundra, and the Arctic Ocean [2][3] - The attraction includes custom-shot video footage from remote Arctic locations, enhancing authenticity and guest immersion with wildlife such as polar bears, orcas, and beluga whales [3] Family-Friendly Experience - Designed for adventurers of all ages, Expedition Odyssey has a height requirement of only 39 inches, allowing families to enjoy the experience together [4] - The attraction is fully indoors, ensuring a year-round experience regardless of weather conditions [4] Animal Encounters - Guests can transition from the ride to real-life encounters with Arctic animals, including beluga whales, seals, and walruses [5] - A notable feature is Uki, an orphaned Pacific walrus calf, who is part of the attraction and provides a unique connection for guests [6] Additional Experiences - SeaWorld offers exclusive behind-the-scenes experiences, such as the Beluga Whales Up-Close Tour, allowing guests to learn about marine mammals [7] Promotional Offers - SeaWorld is currently running a Memorial Day Sale, offering up to 55% off on tickets, Fun Cards, and Annual Passes until May 18 [8][9] - The 2025 Fun Card is available for $139.99, providing park admission through December 31, 2025, at a lower price than a single-day ticket [9] Company Overview - SeaWorld is a leading marine life theme park and accredited zoo, focusing on education and conservation of marine life [10] - The organization has rescued over 42,000 animals and has contributed more than $20 million to marine conservation efforts globally [10]

Core Insights - United Parks & Resorts Inc. reported strong financial results for Q1 2025 despite challenges from the timing of Easter and Spring Break holidays, which shifted to Q2 compared to the previous year [3][6] - In-park per capita spending reached a record level, increasing by 1.1% for the quarter, marking growth for 19 of the last 20 quarters [3][6] - The company anticipates significant revenue and Adjusted EBITDA growth for 2025, driven by new attractions and improved offerings across its parks [3][4] Financial Performance - Attendance for Q1 2025 was approximately 3.4 million guests, a decrease of 59,000 guests or 1.7% from Q1 2024 [6][7] - Total revenue was $286.9 million, down $10.5 million or 3.5% from the same quarter in 2024 [6][9] - The net loss for the quarter was $16.1 million, an increase of $4.9 million from Q1 2024 [6][9] - Adjusted EBITDA was $67.4 million, a decrease of $11.7 million or 14.8% from the prior year [6][9] Key Metrics - Total revenue per capita decreased by 1.8% to $84.62, while admission per capita fell by 4.2% to $46.04 [6][31] - In-park per capita spending increased to $38.58, reflecting a 1.1% rise [6][31] - The company repurchased approximately 100,000 shares for about $4.6 million during the quarter [10][6] Future Outlook - The company is optimistic about 2025 bookings for its Discovery Cove property, group bookings, and international ticket sales, all of which are ahead of 2024 [3][4] - Significant investments have been made in new rides and attractions, with a focus on enhancing guest experiences [3][4] - The company expects to achieve new records in revenue and Adjusted EBITDA in 2025, with 75% of historical attendance and revenue opportunities still ahead as of April 30, 2025 [3][4] New Attractions - New attractions include "Jewels of the Sea" at SeaWorld San Diego and "Expedition Odyssey" at SeaWorld Orlando, among others [4][12] - The company continues to enhance its offerings with family-friendly attractions and themed events across its parks [4][12] Animal Rescue Efforts - In Q1 2025, the company aided 205 animals in need, contributing to a total of over 42,000 animals helped throughout its history [11][12] - The company is recognized as a leader in animal rescue, working closely with various agencies to provide urgent care to wildlife [12][22]

Core Insights - Disney's announcement of a new theme park in Abu Dhabi reinforces the UAE's position as a global consumer hub in the Middle East [1][2] - Yas Island, developed since 2006, is projected to attract 38 million visitors by 2024, showcasing its growth as a major entertainment destination [1][2][9] Economic Context - The UAE is the second-largest economy in the Arab world, with a diversified market-based economy, and aims to reduce oil revenue to less than 40% of its GDP [2][3] - Abu Dhabi holds 90% of the UAE's oil reserves and derives 60% of its GDP from petroleum, contrasting with Dubai's reliance on non-oil revenue [3][4] Investment and Development - The Disney park will be developed by Miral, with no direct capital investment from Disney, which is focusing $60 billion on other global theme parks [5][10] - The UAE's investment strength is expanding beyond its borders, including recent projects in the U.S. [6] Tourism and Consumer Economy - The new theme park is part of a broader strategy to enhance quality of life for residents and tourists, although Dubai remains more dependent on tourism [7][8] - Abu Dhabi's approach to economic diversification has been more measured compared to Dubai, which has faced uneven success in consumer attractions [8][9] Future Outlook - The UAE is in a growth phase, with Abu Dhabi and Yas Island developing a critical mass of leisure entertainment, positioning them as a prime location for future investments [9][10]