TEXT-S&P comments on credit trends in European leisure industries
As the first report points out, almost 80% of the issuers we rate in these industries have stable outlooks. Our view of credit stability for the sector takes into account the lack of material short-term debt maturities and refinancing needs, and generally supportive financial policies, with a number of companies having material headroom at their current rating level.
"Companies' generally prudent financial policies to date are a key driver underpinning our view of stable credit quality for the EMEA leisure industries in 2012," said Standard & Poor's credit analyst Carlo Castelli. "Nevertheless, we anticipate only limited potential for further debt reduction in 2012, on account of declining discretionary cash flow. We base this view on our expectation of increased investments as maintenance capital expenditure (capex) returns to normal levels, and as some companies resume expansion and development capex.
"In addition, we've started to see a pickup in mergers and acquisitions. And for companies rated 'BB' and above, we see a possibility that shareholder returns may increase, continuing a trend evident in 2011."
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New swimming industry report published
The majority of the UK population (84 per cent) live within 2 miles (3.2km) of a swimming pool, according to the 2011 State of the UK Swimming Industry report.
Published by The Leisure Database Company, the study has found that the public is able to choose from 4,674 pool facilities across more than 3,300 public and private sites.
In the year to 31 March 2011, there was a decrease in the number of pool facilities at private health clubs. However, this was offset by a rise in provision and public sector venues.
The report has also revealed that the South East region has the most swimming facilities per geographic region, with Northern Ireland offering the least amount.
Sport and Recreation Alliance chair Andy Reed said: "We know that swimming remains a massive participation sport and activity, but we still need to grow the market and the numbers participating regularly.
"Reports suggest that latent demand for swimming remains high so providing this kind of detailed information can help us all plan to meet this growth."
David Minton, director of The Leisure Database Company, added: "Swimming's popularity will only be heightened with the 2012 Olympics and we need to ask whether we have the facilities and programmes for a true Olympic legacy."
Details: The 2011 State of the UK Swimming Industry report
Image: Benis Arapovic/shutterstock.com
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Aqualandia to Operate Terra Mítica in Benidorm, Spain
Aqualandia has an option to purchase the park for €75 million (US$97.6 million). Ten-year-old Terra Mítica entered bankruptcy protection in 2005 with €218 million (US$283.7 million) in debt and a loss of €120 million (US$156 million). The park was initially projected to attract 4 million annual visitors; however, attendance peaked at 1.5 million.
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Safety in public and private pools
In France, owing to a law enacted in 2003, which came into force in all its aspects in 2006, it is mandatory for all swimming pools, public or private, to have safety systems. The main objective of this law is to reduce the risk of drowning amongst children, as they are the most vulnerable to suffer this type of accidents.
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The most visited theme parks in 2009
TEA and AECOM have just published the latest edition of the annual report devoted to the number of visitors in the most visited parks in the world. This 2009 data is obtained through several sources: financial reports, tourist agencies, statistics provided by the parks, ... Since not all the parks report their visitor numbers, it is a very interesting report, however we must take into account the fact that in some cases, there may be a difference between this data and the real data.
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Russia: The family entertainment complexes market is not yet saturated
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British parks 'benefiting from recession'
Museum of Darkness
A journey into the heart of darkness, a walk in pitch black. In the depths of darkness, when the eye fails to see, the remaining senses are revealed. Barcelona will be the first Spanish city to host a museum of permanent darkness, called Diàleg a la Fosca (Dialogue in the Dark). Visitors will put their sight aside to live a sensory experience, led by a guide who is used to getting by in the darkness, a blind person.
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A great summer for French-speaking parks
It is a subject that fascinates all the media: leisure parks are withstanding the crisis! And they are doing more than simply resisting, they're in good shape with attendance growth generally greater than 10% this summer. The success is due to the confirmation of short stays, a new trend towards domestic tourism and a great summer.
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Spanish leisure parks lost half a million visitors in 2008
10 years after experiencing growth, the number of visitors to Spanish leisure parks fell 1,5% in 2008, dragged down by the fall registered in theme parks (-8,5%) and attraction parks (-2,5%). In contrast, the influx in the segment of zoos, aquariums and nature parks rose 1,5%, thanks to the opening of new facilities during the year. The turnover of the group of parks was around 633 million Euros, 1,4% less than in 2007.Read more...
Caja Madrid leases Faunia to Parques Reunidos
Faunia assures in its publicity that it has one of the most comprehensive Polar ecosystems in Europe. Amongst its attractions are several species of penguin, Caribbean manatees, seals, fur seals and lynx. But the offer of this biological park located in the district Vicálvaro does not appear to be enough for the visitors.
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Terra Mitica ends 2008 with losses and fewer visitors
Terra Mitica ended 2008 with losses of some 15 million Euro, four more than predicted in the business plan, as a consequence of the depreciation of new assets of the investments carried out for the Ocionia opening, the financial costs and "especially due to the decrease in visitor numbers", 10% less than in 2007, according the theme park's explanations.
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Action Park in payments suspension
Finally the bad omens of recent years are confirmed and the Valencian company Action Park Multiforma Group has started insolvency proceedings (formerly known as Suspension of Payments).
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IAAPA trade show to be held in Las Vegas this year
IAAPA Turns the Spotlight on Its First Major Event in Las Vegas!
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Action Park Multiforma Group makes redundancies
We are echoing the news that the well-known Valencian company ACTION PARK MULTIFORMA GROUP is experiencing difficulties, which, during 2008 has forced them twice to make redundancies, the latest ones being just before the last Christmas holidays.Read more...
Ruler of Umm al-Quwain passes away
With a great sorrow we have learned of the death of Sheikh Rashid bin Ahmed Al-Mualla, Supreme Council member and Ruler of Umm al-Quwain in the United Arab Emirates.
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¿Do you know Aqualandia waterpark?
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Attendance boost for IAAPA
This year's total attendance was up 30 per cent over last year's expo.Read more...
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The Leisure Industry Week
Intamin founder dies
Reinhold, born in Austria in 1941, will be remembered first and foremost as a loving husband, devoted brother, caring father and a wonderful mentor and friend to his colleagues. Read more...


