Legoland owner says yearly sales soared to record high
Legoland owner says yearly sales soared to record high
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The owner of Legoland and Madame Tussauds has said its yearly sales soared to a record high as more visitors flocked to city-centre attractions and it launched new sites. Merlin Entertainments, which is one of the world’s biggest operators of theme parks and attractions, said consumer appetite for digitally immersive experiences was growing.
The group revealed its total revenues jumped by 8% to an all-time high of £2.1 billion over 2023, compared with the previous year. About 62 million people visited attractions – seven million more than in 2022. Merlin makes most of its sales from Legoland Resorts, with sales edging up by 1% compared with the prior year.
Sales at its gateway attractions jumped by nearly a quarter year on year, which refers to its attractions based in busy towns and cities, such as Sea Life, Madame Tussauds and the London Eye. This reflects strong demand of international tourism in cities with more than one site, most notably in London where nearly a quarter of all tourists to the city visited one of its attractions last year, Merlin said.
It also highlighted a stronger performance in cities including Sydney in Australia and Bangkok in Thailand, but said the pace of post-pandemic recovery in China had been slow. However, Merlin revealed it swung to a pre-tax loss of £214 million last year, from a profit of £106 million the previous year, which the company said was due to one-off costs including refinancing some of its debts.
