SeaWorld Interim CEO Marc Swanson’s Address at IAAPA Virtual Conference Focuses on Resilience

April 9, 2021

The International Association of Amusement Parks and Attractions (IAAPA) serves as a cohesive force within the global attractions community. The respected industry organization’s annual conference offers opportunities for learning, networking, and sharing best practices across the industry. SeaWorld’s Interim CEO, Marc Swanson, served as one of the keynote speakers for this year’s virtual event. Swanson discussed the Management Team’s strategy for navigating the pandemic collaboratively.

Forecasted Increases in Revenues and Margins

Increased revenue prospects and sustained cost reduction measures will potentially produce $155 million to $285 million in Adjusted EBITDA. These projections are based on the parks’ aggregate 2019 guest attendance levels.

Assuming the 2019 gate figures, the total implied Adjusted EBITDA is estimated to range between $600 million and $750 million. 2019’s Adjusted EBITDA margin was 32.7 percent.

With revenues projected to increase, and continued cost reductions, the implied Adjusted EBITDA margin would have risen at 2019 attendance levels. Given these parameters, the margin would have positioned itself in the 41.3 percent to 48.9 percent range. This represents an increase of more than 800 basis points.

Strategies for Achieving Business and Revenue Growth

SeaWorld’s Interim CEO, Marc Swanson, described the benefits of collaborative partnerships in addressing “operational costs and maximizing our financial flexibility, giving us some breathing room to make the difficult decisions with some degree of confidence.”

Speaking to the effective communication between SeaWorld’s Chairman of the Board of Directors, Scott Ross, and the leadership team, Swanson added, “Our partnership with our Chairman and our other Board Members allowed our company to adjust and move forward with more creativity and nimbleness than we had before. Having a large investor on the Board allows us to align our goals and move even more confidently and decisively.”

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The Board’s decisive actions could help to realize $135 million in increased revenues. This estimate uses 2019’s aggregate attendance levels of 22.6 million guests as a baseline, and focuses on:

Stronger focus on revenue generation with a dynamic parks’ pricing model as the foundation of this strategy.
Enhanced park features including new and/or improved venues, additional food and beverage options, and updated merchandise choices.
Buildout of an in-park mobile app that encourages onsite guests to experience additional venue offerings.
Development of an innovative CRM framework to improve guest and valued pass holder communications and create mutually beneficial partnerships.
Reorganization of the marketing team to increase promotional campaigns’ reach and effectiveness.

Actions Completed to Enable Strategic Goal Achievement

As one of the keynote speakers at the IAAPA Virtual Conference, Marc Swanson outlined ongoing actions led by SeaWorld Entertainment Inc.’s Board and Scott Ross, Chairman of the Board of Directors. These developments began in 2019, and will bring sustained benefits throughout 2021 and into the future:

Top-down departmental centralization, such as human resource management and revenue management aimed to streamline internal processes, with a strong focus on the cultivation of internal centers of excellence, decreasing the need for use of third-party consultants.
Redesign of Corporate-level operations to better anticipate parks’ attendance fluctuations, and updated line schedules to more closely reflect in-park guest attendance numbers. Operational flexibility is enhanced through a variable cost framework.
Consolidation of media agencies and enhanced utilization of in-house creative resources will lower marketing costs. Developing right-sized media spend and flexing that responds to current market conditions and relevant restrictions.
Continued emphasis on company-wide utility cost reductions with the ongoing adoption of energy-efficient practices and negotiated utility rate savings.
The utilization of undeveloped land facilitates the completion of targeted construction initiatives, increasing warehouse space while decreasing leased building expenses. Complete cessation of off-site equipment rentals and storage facility use.

Sustained Health and Safety Emphasis

While pursuing desirable revenue enhancement and cost reduction goals, SeaWorld will continue to prioritize guests’ and team members’ health and safety. The Management Team will consistently devote all needed resources to this goal, and funds allocation will not be affected by cost reductions and/or operational limitations.

SeaWorld will continue to follow health and safety recommendations from state and local health authorities. To inform the Management Team’s decisions, updated scientific knowledge about COVID-19 transmission and evolving protocol recommendations are regularly reviewed.

Through an ongoing emphasis on maintaining stringent health and cleanliness standards, SeaWorld has allowed guests to keep enjoying memorable park experiences, while every effort is made to ensure their collective well-being.

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Looking for a Rehab Center? How to choose the right one?

There are many factors to consider when it comes to finding the right rehab center. It can be overwhelming and even daunting to figure out where to start. But by considering certain factors, you can confidently choose a rehab center that will provide the support and resources necessary for your recovery journey. Below are some tips that will help make the process easier: 1. Determine What Type of Treatment is Needed The first step in finding the right rehab center is determining what type of treatment is needed. This may seem daunting, but it can be simplified by breaking it down into smaller categories. The Delray Beach rehab center offers various treatments, including substance abuse, mental health, and dual diagnosis. Here’s an overview of each treatment. Substance Abuse: If you are struggling with addiction, you will need a rehab center specializing in substance abuse treatment. This rehab center will provide a safe and supportive environment where you can detox from your drug or alcohol addiction and begin to heal the damage that has been done to your body and mind. Mental Health: If you are struggling with a mental illness such as depression, bipolar disorder, or schizophrenia, then you will need a rehab center that specializes in mental health treatment. This rehab center will provide therapies and treatments specifically designed to address the root causes of your mental illness. Dual Diagnosis: If you are struggling with addiction and a mental illness, you will need a dual diagnosis rehab center. This rehab center provides specialized treatment for people with co-occurring disorders. It is important to note that not all rehab centers offer dual diagnosis treatment, so be sure to check before making a decision. 2. Research the Rehab Center’s Reputation and Success Rates A good reputation indicates that the rehab center has a history of helping people overcome addiction or mental illness. One way to gauge a rehab center’s reputation is by looking at its success rates. Success rates can be measured in several ways, such as the percentage of patients who complete treatment, the percentage of patients who remain sober after treatment, or the percentage of patients who relapse after treatment. Looking at all three success rates is important because they can give you different insights into how well a rehab center works. It is also important to look at how long people stay in treatment. The longer someone stays in treatment, the more likely they will succeed. So if you are looking for a long-term solution, you will want to choose a rehab center with high success rates and long-term programs. 3. Consider Treatment Options Offered The next step in choosing the right rehab center is considering its treatment options. It is important to find a rehab center that offers a variety of treatment methods, as different approaches work for different individuals. Some common types of treatment include cognitive behavioral therapy, individual and group therapy, experiential therapy, and 12-step programs. Make sure the rehab center offers aftercare support once you have completed your treatment program. This can include continued therapy or attending support groups such as Alcoholics Anonymous or Narcotics Anonymous. 4. Take into Account Cost and Insurance Coverage When looking for a rehab center, the cost is one of the most important factors to consider. Rehab centers can be very expensive, and unless you have insurance coverage or money to spare, you will need to find a center that fits your budget. There are many ways to reduce the cost of rehab, including choosing a center that offers payment plans or sliding scales, seeking out scholarships or grants, and negotiating with the center for a lower price. Be sure to consider all the costs associated with rehab, including room and board, therapy sessions, and transportation. 5. Consider the Location of the Rehab Center One of the most important factors to consider when looking for a rehab center is its location. The best rehab centers are located in peaceful and relaxing environments, far away from the hustle and bustle of city life. This can be crucial for those who need to focus on their recovery without distractions. However, it’s important to note that not all rehab centers are created equal. Some are better suited for those who need a quiet and remote environment, while others are better for those who need easy access to medical care and support systems. 6. Look Into the Staff Qualifications When looking for a rehab center, it is important to consider the qualifications of the staff. The staff should be qualified to help you or your loved one recover from addiction. They should have experience in treating addiction and be able to provide support and guidance throughout the process. You can ask the rehab center about the qualifications of their staff. You can also do your research to find out more about the staff’s qualifications. You can read reviews online to understand what other people have said about the staff’s qualifications. You can also contact past patients to get feedback on their quality of care. It is important to feel confident in the staff at the rehab center. They will play a crucial role in your or your loved one’s recovery. You want to ensure they are qualified and capable of providing the best possible care. 7. Take Into Account the Overall Atmosphere and Amenities Offered You want to ensure that the center provides a comfortable and supportive environment for recovery. The atmosphere and amenities offered can play a big role in this. Consider factors such as the cleanliness and layout of the facility, access to outdoor activities or recreational facilities, comfortable living accommodations, and availability of nutritious meals. These aspects can make a difference in your overall experience at the rehab center and contribute to your success in recovery. Additionally, consider what other amenities are offered beyond just the treatment program. Some centers may offer holistic therapies, art therapy, exercise programs, nutrition education, or family therapy. These additional amenities can enhance your recovery and provide a well-rounded >>Read more
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When it comes to hiring an employee, there are a lot of potential mistakes that can be made. From not having a clear idea of what you’re looking for, to not checking references thoroughly, there are plenty of ways to mess things up. And if you make any of these mistakes, it can end up costing you time and money down the road. We’ll take a look at some of the most common hiring mistakes, and we’ll discuss how to avoid them. So whether you’re about to start your search for a new employee, or you’ve been through a few rounds of interviews and still haven’t found the right person, read on for some helpful tips. Not Using Technology In The Recruitment Process In today’s day and age, there’s no excuse for not using technology in the recruitment process. There are plenty of online tools that can help you find candidates, and there are even more that can help you screen them. Not to mention, there are several ways to use social media to your advantage when it comes to recruiting. If you’re not using any of these tools, you’re likely missing out on some great candidates. The recruitment team behind Solutions Driven indicated that working with a recruitment agency will help ensure you’re using the latest technology in your recruitment process. For example, they can help you post your job on the right platforms, and they can also help you screen candidates using their software. Not Having a Clear Job Description When you’re hiring someone, you must have a clear idea of the job that you want them to do. This may seem like an obvious point, but you’d be surprised how many employers don’t take the time to think about what they need from a new hire. Sit down and make a list of the tasks that you need this person to perform. Be as specific as possible. Once you have your list, you can use it to create a detailed job description. This will help you attract candidates who are a good fit for the position, and it will also make the selection process easier. Additionally, a detailed job description will help you avoid any legal trouble down the road. Not Checking References Thoroughly When you’ve found a candidate that you like, it’s important to check their references thoroughly. This is often one of the most overlooked steps in the hiring process, but it’s also one of the most important. Don’t just take the references at their word – actually call them and ask questions. Find out if the candidate is truly as good as they seem, and see if there are any red flags that you should be aware of. It may take some extra time, but it’s worth it to make sure you’re not making a mistake. References also provide an opportunity to ask more detailed questions about a candidate’s skills and experience. Not Asking The Right Questions When you’re interviewing candidates, it’s important to ask the right questions. This will help you get a better sense of who they are, what they can do, and how well they’ll fit into your company. Avoid asking questions that are too personal, or that could be seen as discriminatory. Instead, focus on questions that will help you assess their skills and experience. If you’re not sure what questions to ask, there are plenty of resources available online. Additionally, working with a recruitment agency can help ensure you’re asking the right questions. They can provide you with a list of questions to ask, or they can even conduct the interviews for you. Not Making a Decision Once you’ve interviewed all of the candidates, it’s important to make a decision and move forward. If you wait too long, you run the risk of losing out on the best candidates. Additionally, dragging out the process can be frustrating for everyone involved. If you need some help making a decision, there are plenty of resources available online. You can also reach out to your network for advice, or you can work with a recruitment agency. They can help you assess the candidates and determine who is the best fit for the position. Not Following Up With Candidates After you’ve made your decision, it’s important to follow up with the candidates. This is a courtesy that you should extend to everyone who applied for the position, even if they weren’t selected. Let them know that you appreciate their interest, and thank them for their time. Additionally, provide feedback on why they weren’t selected so that they can improve their chances in the future. If you don’t follow up with candidates, you run the risk of damaging your company’s reputation. Not Training Your New Hire Once you’ve found the perfect candidate and brought them onboard, it’s important to properly train them. This will help them be successful in their new role, and it will also help them feel like they are a valuable part of your team. There are several different ways to train your new hire, so take some time to figure out what will work best for your company. You can provide them with written materials, have them shadow another employee, or have them participate in online training courses. Whichever method you choose, make sure you give them the tools they need to be successful. Not Checking In Regularly After you’ve hired and trained your new employee, it’s important to check in with them regularly. This will help you ensure that they are settling into their new role and that they understand their responsibilities. Additionally, checking in allows you to provide feedback and answer any questions they may have. Checking in doesn’t have to be a formal process, but you should make sure you do it regularly. There are a few key things to avoid when hiring an employee. First, don’t make any hasty decisions. Take your time to interview multiple candidates and ask the right questions. Additionally, follow up >>Read more
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Know The Updated facts To Lodge Student Visa 500 Application

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SeaWorld Interim CEO Marc Swanson’s Address at IAAPA Virtual Conference Focuses on Resilience

Forecasted Increases in Revenues and Margins

Strategies for Achieving Business and Revenue Growth

Actions Completed to Enable Strategic Goal Achievement

Sustained Health and Safety Emphasis

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