{"id":1605276,"date":"2022-08-14T07:49:06","date_gmt":"2022-08-14T11:49:06","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1605276"},"modified":"2022-08-14T07:49:57","modified_gmt":"2022-08-14T11:49:57","slug":"six-flags-ceo-says-they-hiked-prices-because-parks-turned-into-a-cheap-day-care-for-teenagers","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/six-flags-ceo-says-they-hiked-prices-because-parks-turned-into-a-cheap-day-care-for-teenagers\/","title":{"rendered":"Six Flags CEO Says They Hiked Prices Because Parks Turned Into a &#8220;Cheap Day Care for Teenagers&#8221;"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">34<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fsix-flags-ceo-says-they-hiked-prices-because-parks-turned-into-a-cheap-day-care-for-teenagers%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1605276&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<div class=\"featured featured-video video-ct\">\n<div class=\"contain\">\n<div class=\"info\">\n<div class=\"caption\">\n<p>Check out what&#8217;s clicking on FoxBusiness.com.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Amusement park operator <a href=\"https:\/\/www.foxbusiness.com\/category\/entertainment\" target=\"_blank\" rel=\"noopener\">Six Flags <\/a>has become &#8220;day care center for teenagers&#8221; after offering too many discounts, according to its chief executive officer.\u00a0<\/p>\n<p>During an earnings call with analysts, Selim Bassoul \u2014 who took over the role in November \u2014 talked about the company&#8217;s new strategy to keep &#8220;rowdy&#8221; teenagers from running amok. The plan includes hiking prices and trying to attract a more affluent customer.\u00a0<\/p>\n<p>&#8220;Our aggressive strategic shift is still a work in progress, but my first nine months at Six Flags as Six Flags CEO has only reinforced my initial belief in Six Flags potential,&#8221; Bassoul said.\u00a0<\/p>\n<div class=\"inline image-ct\">\n<div class=\"m\"><source media=\"(max-width: 767px)\" \/><source media=\"(min-width: 768px) and (max-width: 1023px)\" \/><source media=\"(min-width: 1024px) and (max-width: 1279px)\" \/><source media=\"(min-width: 1280px)\" \/><img decoding=\"async\" src=\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2020\/09\/931\/523\/Six-Flags-Texas-Getty.jpg?ve=1&#038;tl=1\" alt=\"six flags\" \/><\/div>\n<div class=\"caption\">\n<p><span>A roller coaster at the reopened Six Flags Fiesta Texas in San Antonio, Tex.\u00a0<\/span><span> (Photo by Lie Ma\/Xinhua via Getty) (Xinhua\/ via Getty Images \/ Getty Images)<\/span><\/p>\n<\/div>\n<\/div>\n<p>Throughout the second quarter, total attendance dropped 22% to 6.7 million guests compared to a year ago due in part to the elimination of free tickets and low margin product offerings &#8220;coupled with increased pricing into a market that had become accustomed to discounts,&#8221; Six Flags CFO Gary Mick told analysts. \u00a0<\/p>\n<p><a href=\"https:\/\/www.foxbusiness.com\/business-leaders\/six-flags-names-new-ceo\" target=\"_blank\" rel=\"noopener\"><strong>SIX FLAGS NAMES NEW CEO AS THEME PARK ATTENDANCE BOUNCES BACK<\/strong><\/a><\/p>\n<p>The theme park operator has been in the process of an <a href=\"https:\/\/www.foxbusiness.com\/category\/business-leaders\" target=\"_blank\" rel=\"noopener\">aggressive shift in strategy<\/a> after realizing that it &#8220;had discounted too much&#8221; and that &#8220;the philosophy of filling our parks&#8221; was not the right one, he added.\u00a0<\/p>\n<p>As a result, &#8220;we only got the discounter or we became a day care center for teenagers,&#8221; Bassoul told analysts.\u00a0<\/p>\n<p>Part of the new strategy is to institute new pricing, which means catering to customers with families or young adults &#8220;who are willing to come and spend the money in our parks,&#8221; he added.\u00a0<\/p>\n<div class=\"inline image-ct\">\n<div class=\"m\"><source media=\"(max-width: 767px)\" \/><source media=\"(min-width: 768px) and (max-width: 1023px)\" \/><source media=\"(min-width: 1024px) and (max-width: 1279px)\" \/><source media=\"(min-width: 1280px)\" \/><img decoding=\"async\" src=\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2020\/05\/931\/523\/Six-Flags-Getty-002.jpg?ve=1&#038;tl=1\" alt=\"six flags\" \/><\/div>\n<div class=\"caption\">\n<p><span>Six Flags Magic Mountain on May 22, 2008 in Valencia, Calif.\u00a0<\/span><span> (Photo by Mathew Imaging\/WireImage \/ Getty Images)<\/span><\/p>\n<\/div>\n<\/div>\n<p>He said Six Flags expanded its advertising to pursue a broader market. In the past, the company focused on previous guests.<\/p>\n<p>&#8220;Now, we&#8217;re changing that philosophy, and we&#8217;re going to a broader market. We&#8217;re going to, what I call, more affluent neighborhoods where we would like to bring people from those neighborhoods to come to our park who have not been targeted before,&#8221; Bassoul said.<\/p>\n<p><a href=\"https:\/\/www.foxbusiness.com\/lifestyle\/california-amusement-park-announces-chaperone-policy-teen-fights-force-early-closures\" target=\"_blank\" rel=\"noopener\"><strong>CALIFORNIA AMUSEMENT PARK ANNOUNCES CHAPERONE POLICY AFTER TEEN FIGHTS FORCE EARLY CLOSURES<\/strong><\/a><\/p>\n<p>Although Six Flags experienced a decline in attendance over the past three months, the company said it was able to offset much of the drop in revenue through <a href=\"https:\/\/www.foxbusiness.com\/economy\" target=\"_blank\" rel=\"noopener\">increased guest spending.<\/a>\u00a0<\/p>\n<p>Admissions spending per capita increased 27% to $36.35 per person and in-park spending per capita increased 18% compared to the same period a year ago.\u00a0<\/p>\n<p><a href=\"http:\/\/foxbusiness.com\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>CLICK HERE TO READ MORE ON FOX BUSINESS<\/strong><\/a><\/p>\n<p>The increase in admission spending was &#8220;driven primarily by higher realized ticket prices and a higher mix of single day tickets,&#8221; Mick added.\u00a0<\/p>\n<p>Heading into fall, the company plans to add new offerings in an attempt to increase visitations such as introducing a new dining plan, creating a bigger Fright Fest with activities to attract more families as well as introducing an Oktoberfest event.<\/p>\n<p>Six Flags second quarter revenue fell 5% to $435 million. Net income tumbled 36% to $45 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Check out what&#8217;s clicking on FoxBusiness.com. Amusement park operator Six Flags has become &#8220;day care center for teenagers&#8221; after offering too many discounts, according to its chief<\/p>\n","protected":false},"author":1,"featured_media":1605458,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1605276","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1605276","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1605276"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1605276\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1605458"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1605276"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1605276"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1605276"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}