Dubai – Mubasher: DXB Entertainments on Sunday reported higher visitor numbers and average occupancy in the third quarter of 2017, whereas revenues were down slightly.

Visitors grew 16% quarter-on-quarter to 478,987 in Q3-17 from 414,457, while average occupancy jumped to 42% from 27%.

Meanwhile, revenues amounted to AED 115 million, down slightly from AED 120 million in Q2-17, the company revealed in a statement to the Dubai Financial Market (DFM).

DXB said that this slight quarter-on-quarter decline was due to lower revenue from admissions as a large number of visits was “generated through the Lapita™ Hotel where room rates are inclusive of theme park access.”

A number of summer season “offers and revised GCC resident pricing for the winter season effective from 1 September 2017” also contributed to the decline.

The theme park firm’s losses amounted to AED 284 million in Q3-17, a slight quarter-on-quarter decline from AED 286 million.

Year-to-date, revenues DXB Entertainment’s revenues amounted to AED 395 million, while gross profits stood at AED 349 million, and losses for the period hit AED 862 million.

“We made progress during the third quarter of the year against our strategic plan. We have simplified our pricing structure to focus on repeat visitation from the GCC resident market and we have so far received very positive feedback from our guests,” commented DXB Entertainments CEO Mohamed Almulla.

DXB Entertainment’s main asset, Dubai Parks and Resorts recorded 1.5 million visits during the first nine months of the year, while Q3-17 visits alone stood at 478,000.

Average revenue per visit reached AED 142 in Q3-17, according to the statement.

DXB Entertainment’s World of The Hunger Games attractions and rides, which are part of the LIONSGATE zone, were officially inaugurated on 20 October 2017. Accordingly, the company has completed all the rides and attractions at Dubai Parks and Resorts.

“Now that the parks are fully operational with all rides open to the public, we are focused on our marketing efforts to promote the individual parks by leveraging our world-class IP partners and the multitude of experiences through advertising campaigns and special events,” the CEO highlighted.

As for DXB’s strategy “to drive footfall”, the top official revealed that it resulted in  “an all-time-high visitation number, during our DPR Big Day Out event on 29 September 2017, when we recorded more than 25,000 visits to Dubai Parks and Resorts.”

DXB Entertainment’s were recognised over the past period and given a number of awards, such as the Time Out Dubai Kids Awards 2017, where the LEGOLAND® Water Park won the Best Water Park, and Lapita™ Hotel won the award for the Best Family Hotel.

DXB reported “an adjusted EBITDA loss of AED 91 million during the quarter, reflecting an EBITDA improvement despite the lower revenue, as a result of our continuing cost efficiency measures,” Almulla highlighted.

The CEO concluded that going forward, DXB Entertainments “will be able to show lower operational costs and therefore improved EBITDA.”