TEXT-S&P comments on credit trends in European leisure industries

The factors behind the credit stability of leisure industries in Europe, the Middle East, and Africa (EMEA) are examined in two reports by Standard & Poor's Ratings Services titled "Europe's Leisure Industries Hold Firm Against A Sluggish Economic Environment" and "Credit Quality Of European Leisure Industry Largely Unaffected By Current Economic Uncertainty."

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.

Swimmer

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

The Generalitat of Valencia announced Aqualandia will pay €1.8 million (US$2.3 million) annually to lease the park for 10 years. The agreement also calls for the company to retain Terra Mítica’s current staff and pay additional fees based on attendance and income.

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

According to the company, “Market Analysis”, the Russian market for leisure parks and complexes with attractions, is continuing to grow considerably: the growth rate is around 30% per year. The total volume of the attractions market for parks or indoor facilities is valued at 14-15 million roubles.

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British parks 'benefiting from recession'

The UK theme park industry not only enjoyed two years of growth in fiscal 2008 and 2009, but is actually benefiting from the economic downturn, a new study claims.Read more...

Worldwide architectonic buildings

Source: El Mundo Read more...

Museum of Darkness

Barcelona will have a museum to 'see' in the dark.

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?

From these pages, we would like to acquaint you with one of the most emblematic waterparks in Spain, Aqualandia, situated in Benidorm, Alicante. Please access the images and video galleries by clicking on the following links:

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A new Islamic art museum places Qatar on the cultural map

This weekend, Qatar opened its long-awaited Museum of Islamic Art. The building, the work of Ieoh Ming Pei and with a cost of 300 million dollars (233 million Euros), will welcome its first visitors next Monday.Read more...

Parques Reunidos exceeds five million visits in the three Costa del Sol leisure centres

Selwo Aventura in Estepona, Teleférico in Benalmadena and Selwo Marina also in Benalmadena, the three Parques Reunidos leisure centres on the Costa del Sol, have received a total of five million visitors since they opened their doors in 1999, 2001 and 2002.Read more...

Government approves Hermitage-Guggenheim Museum project in Vilnius

The way has been finally opened in Vilnius for the establishment of Hermitage-Guggenheim Museum. The Government Strategic Planning Committee on Wednesday almost unanimously approved this multifunctional culture center project. According to preliminary estimations, the erection and installment of the museum will const about 260 million litas (75.7 million euros) and investments will pay off over seven years.Read more...

Eco Hotels with good prospects on the tourist market

Over the past decade or so eco-tourism has been gaining a progressively increasing role in world tourist industry. The demand for environmentally clean products has been growing year on year, and according to certain estimates eco-tourism already constitutes some 10% of world tourism. Tourists reportedly seem to be willing to take advantage not only of virgin nature, but of environmentally friendly hotels, too.Read more...

Alton Towers bans PDAs

Major British theme park Alton Towers is piloting a scheme this half-term week banning PDAs.Read more...

Getting it right for your waterpark resort

"Now that I built it how do I fill it?"Read more...

Kennywood deal final

The deal to sell Kennywood Entertainment of West Miffllin to Parques Reunidos of Spain was completed on Friday, said spokeswoman Mary Lou Rosemeyer.Read more...

Museum of Islamic Arts prepared for opening

The Qatar Museum Authority (QMA) has announced that the Museum of Islamic Arts in Doha, Qatar, is to open 22 November 2008. Architects I.M Pei, creator of the Pyramide du Louvre in Paris, designed the 3,800 sq ft, 164 ft high, island-based museum which is being built by engineers LERA.Read more...

Seven new wonders of the architectural world

The magazine Conde Nast Traveler published "Seven New Wonders of the Architectural World":Read more...

Deloitte Survey Finds Business Travelers Go Green on the Road, Have Specific Expectations of Hotels

Forty Percent Willing to Pay More for Green Lodging; Clear Gender Divide Found; Gen Y Least Likely to Act Green on Business.Read more...

Owners OK sale of Idlewild, Kennywood parks to Spanish firm

A spokeswoman for Kennywood Entertainment says the family-owned amusement park chain has approved its sale to a Spanish firm that manages dozens of amusement, animal and water parks in the United States and Europe.Read more...

World's Largest Lake Warming Rapidly - Scientists

Siberia's Lake Baikal has warmed faster than global air temperatures over the past 60 years, which could put animals unique to the world's largest lake in jeopardy, US and Russian scientists said.Read more...

Horizon 2020: Helping protect the Mediterranean Sea from pollution

The European Commission and the European Investment Bank today are presenting the results of a study on potential investments addressing pollution hotspots in Southern and Eastern Mediterranean countries.Read more...

San Francisco hotel goes solar

Hotel Carlton, part of boutique hotel company Joie de Vivre Hospitality, is the first in San Francisco to have solar panels installed to offset its energy use.Read more...

Indoor water park opens in Illinois

The US$136m (£70m, 80m euro) Key Lime Cove Water Resort indoor water park in Gurnee, Illinois, has opened to the public.Read more...

Harrow to invest in eco-friendly gym

Harrow Council has unveiled plans to build one of the most environmentally friendly leisure centres in the country.Read more...

New spa brand launches in South Africa

A new wellness brand which aims to integrate fitness, beauty and spa has launched in South Africa.Read more...

Chlorine Poisoning Leads To Closure of Aqua Park

St. Petersburg’s Vasileostrovsky district court closed the city’s Waterville aqua park on Friday after a number of swimmers received medical attention last month when water in the pool was contaminated.Read more...

AQUARIUM IS SET TO MAKE A BIG SPLASH

It was confirmed yesterday that the former Wildwalk at @Bristol will be transformed into a "world class" aquarium by Blue Reef, which will also reopen the Imax cinema. MARTIN BOOTH looks at what Bristol can expect from its newest attraction.Read more...

Six Senses Spa at Ma’in Hot Springs

A famous Middle Eastern hot springs site is to be redeveloped by the Six Senses group and turned into an Evason-branded spa property.Read more...

Calls for industry to invest in positive change

A leading tourism strategist has called for tourism businesses to adopt fresh attitudes towards the environment and corporate social responsibility.Read more...

Disney tops attractions attendance in 2007

Disney’s theme parks attracted more guests than any other attractions operator last year, with more than 115 million people passing through their gates in 2007.Read more...

Slippery when wet

Water & play have become a core element of the modern leisure centre and successful installations can be a key attraction. We look at the history, safety & management of wet play.Read more...

Nakheel plans SeaWorld theme park

Nakheel plans to build four theme parks, including a SeaWorld, on one of its palm-shaped islands, the Dubai-owned developer said on Thursday.Read more...

Attendance boost for IAAPA

Over 27,000 people from 98 countries participated in this year's IAAPA Attractions Expo, which took place the Orange County Convention Center in Orlando, Florida, US, from November 13-16.
This year's total attendance was up 30 per cent over last year's expo.Read more...

Obesity epidemic leads to bigger rides

Major theme park operators are working to accommodate larger riders, while attempting to help prevent obesity in young children through various initiatives.Read more...

Disney plans Hawaiian hotel

The Walt Disney Co has revealed plans to develop a family hotel resort on the western side of Oahu, one of the Hawaiian islands. Read more...

The Leisure Industry Week

The Leisure Industry Week will be held this year from 25th to 27th September in the NEC in Birmingham.Read more...

Intamin founder dies

We regret the death of Reinhold Spieldiener, co-founder of Intamin and Ride Trade, who passed away peacefully in his sleep during the night of September 4, 2007.

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...

Parques Reunidos acquires Palace Entertainment

MidOcean Partners, a private equity firm with offices in New York and London, has signed a definitive agreement to sell Palace Entertainment to one of Europe's leading operators of attraction parks, Parques Reunidos. Read more...

Ritz-Carlton company adds Abama to portfolio

The Abama resort and spa in Tenerife, Spain, has become part of the Ritz-Carlton Hotel Company’s European portfolio. Located in Guia de Isora on the west coast of Tenerife, accommodation at the cliff-top resort includes private villas with swimming pools.Read more...