Six Flags reveals it has lost nearly two million customers in the past year. CEO of the company.
The Arlington, Texas-based theme park's stock price plunged 18% to $21.12 on Thursday, while attendance at 27 theme parks in the quarter ended July 3 was up from the previous year. It revealed that it had decreased by 22% from the same period to reach 6.7 million.
The drop is also due in part to Six Flags steadily increasing ticket prices this year, Selim, his chief executive officer, said on Thursday's earnings call. told analysts.
"We became an inexpensive day care center for his teens," he says Bassoul.
In response, Six Flags is raising prices to reduce the number of "his teens running around rough", he added.
The commotion turned violent at times. Last month in Greater Jackson Township, NJ, he was a teenager after he allegedly assaulted a police officer after he pushed him after he was called to a park because of reports of a fight. of youths were arrested.
Last year at Six Flags in Prince George's County, Maryland, multiplebrawls broke out in the parking lot during Fright Fest. According to CBS Baltimore, videos posted on social media showed young women violently attacking each other, car roofs being trampled and people smashing windows.
And her 2017, at Six Flags in Gurnee, Illinois, after a teenager was asked to "punch her with a sucker" by the mother of her 12-year-old boy , the police were called to the park. Soften their cursing. Media reports at the time said the teenagers then attacked the boy's parents by punching and kicking them.
Right now, Six Flags is pushing prices higher because of its focus on 'price increases'. guest experience,” he said Bassoul. Therefore, the company now expects attendance to fall by 20% to 25% this year. However, total guest spending per person increased from $51.94 to $63.87 compared to a year ago, the company said.
After serving on the board since 2020, Bassoul, who took over as CEO inNovember, said, "We discounted too much and filled the parks with the wrong kind of customers. I realized that I was there,” he said. Meanwhile, the number of families attending the park has increased "by a few percentage points," Vasseur said.
class and even lower middle class Layers too,” he said. "I believe our demographic is the average income in the United States, and if I were to say, a little bit of a shift from what I call Kmart, Walmart [customers] to probably target customers.
According to the website of Sea World in Orlando, Florida, tickets are $116 per ticket, while according to the Six Flags website, tickets to Great Adventures in Jackson, New Jersey cost about $45.
“This is a year of transition for Six Flags. We're fixing the price cut," said Bassoul. he said in a statement Thursday.
Six Flags also says that parking takes up to 30 minutes, it takes up to 30 minutes to get through security, he takes 15-25 minutes to use the restroom, and he takes 1-2 Basseur said, He said it would take several hours to get food and ride.
In July, the Great Adventure Park in New Jersey experienced a power outagethat forced park-goers to enter the park in extreme heat. had to wait over 90 minutes.
In the past year, the company said it lost nearly two million season ticket holders who did not renew their memberships. by declining attendance and his $5 million reduction in sponsorship revenue.
Six Flags officials did not respond to requests for additional comment.
