29yrswithaGApass Posted May 15, 2009 Report Share Posted May 15, 2009 Source: CNBC Six Flags Prepares For Make Or Break Season Published: Friday, 15 May 2009 | 9:24 AM ET By: Christina Cheddar Berk News Editor As Six Flags prepares for a make-or-break season, it may have budget travellers and "staycationers" on its side. Six Flags Chief Executive Mark Shapiro said travellers are looking for value and that means he is "cautiously optimistic" about the theme park's prospects this summer. "It's about value this summer," Shapiro told CNBC, speaking from the company's Great Adventure theme park in Jackson, N.J. That park begins its full-time operations Friday. Shapiro expects consumers to be drawn to Six Flags' parks by promotions that have lowered ticket prices, and by consumers' desire to save money by sticking close to home, which is a trend that favors regional theme park operators such as Six Flags. Still, the company [sIXF 0.349 0.009 (+2.65%) ] has been on its own financial roller coaster of late. Laden with debt, the company was delisted from the New York Stock Exchange in April, and is in the process of preparing for a debt-for-equity offering set to end late next month. If that offering is a success, Six Flags may avoid a bankruptcy filing and complete its restructuring by the end of the year. Despite its struggles, Six Flags remains the world's largest regional theme park operator, and it is the second largest theme park operator after Walt Disney [DIS 23.84 0.36 (+1.53%) ]. "We're coming off a record year," Shapiro said. "It's a healthy business. It's a strong and resilient brand. It's a business that does well in a recession time." According to Shapiro, most of Six Flags' parks have had a busy spring, but the crucial time is the summer months. "We're selling a lot of season passes," he said. "Early on, we're seeing a lot of folks are staying pretty close to home, especially with gas prices being where they are." One weak spot has been its Mexico City park, which was closed for eight days due to the H1N1 swine flu outbreak. Although the park has reopened, visits are down and when consumers come out to the park they are wearing masks to avoid catching the virus. "We're even seeing a little hit in our Texas business," Shapiro said. However, he expects that to be temporary. One factor that could bode well for Six Flags is an improved outlook for travel during the upcoming Memorial Day weekend. According to AAA survey released earlier this week, travel is expected to rise over the holiday weekend to 1.5 percent this year. Visit CNBC to see an interview with Mark Shapiro from Great Adventure. Quote Link to comment Share on other sites More sharing options...
Great Adventurer Posted May 16, 2009 Report Share Posted May 16, 2009 Here we go, GA. I'll be buying lots of stuff to aid the cause! Quote Link to comment Share on other sites More sharing options...
DarkKnight Posted May 16, 2009 Report Share Posted May 16, 2009 they're gonna do fine this season... Quote Link to comment Share on other sites More sharing options...
GAcoaster Posted May 16, 2009 Report Share Posted May 16, 2009 They should do well, but so much is completely out of their control. Weather and the economy are so unpredictable. That and any amusement ride accidents (even if they are other non-Six Flags parks) can really impact attendance. Quote Link to comment Share on other sites More sharing options...
29yrswithaGApass Posted May 16, 2009 Author Report Share Posted May 16, 2009 With so many great Six Flags images to use, CNBC picks film footage of the submerged Six Flags New Orleans park. You have to love that. Quote Link to comment Share on other sites More sharing options...
Mike13 Posted May 16, 2009 Report Share Posted May 16, 2009 The video doesn't work for me for some reason =/ it doesn't load I hit the play button but it just stays at a black screen anyone know what to do to help? And I'm hoping for the best for this season!But I think SF will do well since the economy is getting alittle better and 2 parks already had record breaking numbers in Spring. Quote Link to comment Share on other sites More sharing options...
DarkKnight Posted May 17, 2009 Report Share Posted May 17, 2009 i liked the video... i thought it was pretty cool... Quote Link to comment Share on other sites More sharing options...
southview2 Posted May 19, 2009 Report Share Posted May 19, 2009 The video doesn't work for me for some reason =/ it doesn't load I hit the play button but it just stays at a black screen anyone know what to do to help? And I'm hoping for the best for this season!But I think SF will do well since the economy is getting alittle better and 2 parks already had record breaking numbers in Spring. Me to, I cant see it, its just a black screen then says the film is no longer available. Quote Link to comment Share on other sites More sharing options...
DarkKnight Posted May 19, 2009 Report Share Posted May 19, 2009 i was just about to watch it again now and it says unavailable... oh well =/ Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.