Fiona Eastwood, the CEO of Merlin Entertainments, stated that the company’s primary competition comes from individuals opting to stay at home engaged with their devices. She believes that visiting attractions such as Legoland and Alton Towers in the UK serves as a beneficial alternative to increasing screen time. In a recent interview, Eastwood discussed various challenges the company faces, including economic pressures stemming from rising costs of living, as well as a decrease in consumer confidence and international visitor numbers.
Merlin Entertainments has been experiencing a downturn, with last year’s revenue reported at just above £2 billion and an operating loss of £132 million. Despite these difficulties, the company managed to attract nearly 63 million visitors to its attractions in 2024. Eastwood emphasized that escapism is still a spending priority for many families.
Seasonal attractions, particularly Halloween events such as Thorpe Park’s Fright Nights, have grown in importance, reportedly rivaling summer peak seasons at certain parks. Eastwood highlighted that Halloween festivities generate substantial profits for Merlin.
To engage families and compete with screen time, Merlin plans to invest £85 million in immersive experiences themed around popular children’s franchises, including upcoming attractions based on Minecraft and Bluey. Such themes are intended to draw in family audiences looking for unique experiences.
Eastwood also serves on the board of UK Hospitality and is advocating for a reduction in the VAT rate for the hospitality sector from 20% to 12.5%. She argues that this adjustment would provide a competitive advantage similar to rates in other European nations.
Though she has only been in her current role for less than a year, Eastwood has a longstanding connection with Merlin. She expressed excitement about her role and emphasized the value of firsthand experiences at the company’s attractions.
Source: https://www.bbc.com/news/articles/crl2kz6w3zyo?at_medium=RSS&at_campaign=rss