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One Big Change on the Horizon at SeaWorld San Diego

SeaWorld San Diego visitors won’t see many changes following The Blackstone Group’s acquisition of the Mission Bay park and nine other theme parks.

But the financial heft of the new owners, the largest private equity firm in the world, may have influenced the park’s management to roll out one of its most ambitious entertainment shows in years.

“The first and most noticeable impact (to visitors) will be our new blockbuster show, Blue Horizon, which we plan to introduce next May,” said Andy Fichthorn, SeaWorld San Diego’s general manager.

Announced last week, the deal calls for New York-based Blackstone to pay $2.3 billion in cash, and the right to participate in future returns that is capped at $400 million.

The new show will feature dolphins, trainers and birds performing in tandem with aerialists and gymnasts, Fichthorn said.

It’s expected to improve the park’s attendance next year. Fichthorn admitted this year’s gate declined, but would not say by how much.

In recent years, SeaWorld’s annual attendance has ranged from about 4 million to 5 million, he said.

Last year, according to the Themed Entertainment Association, a trade group, its attendance fell to 4.1 million.

“Our performance has improved in recent months and we feel that we’re past the bottom,” Fichthorn said.


Positive Step

From what he knows of Blackstone, Joe Terzi, chief executive of the San Diego Convention & Visitors Bureau, said he thinks the sale bodes well for the theme park and local tourism industry.

“They’re very positive, and we’re very positive. They (SeaWorld) have a long-term lease on the property, 30 years, and they are one of the major reasons why people come to San Diego, and we hope that continues to be the case.”

The sale of three SeaWorld parks (the others are in Orlando, Fla., and San Antonio) and seven other parks had been rumored for weeks, and marked the largest corporate transaction so far this year.

The transaction, which should be completed by the first quarter of next year, was set in motion last year when InBev, the world’s largest beer maker, purchased Anheuser-Busch , SeaWorld’s owner , for $52 billion.

Following that transaction, Belgium-based InBev cut jobs and sold assets to reduce its debt load.

Blackstone is well acquainted with the theme park industry, having acquired Merlin Entertainments Group, the operator of Legoland parks, including one in Carlsbad, and Madame Tussauds wax museums.

Despite the obvious connections, Fichthorn said there are no plans to cross market the parks or work out joint ticket arrangements. He said Blackstone will continue to operate the businesses separately.

Busch Entertainment, the entity that Blackstone acquired, drew about 25 million visitors annually and is the second largest entertainment park operator in the nation, trailing only Disney. It did about $1.3 billion in revenue last year, according to The Wall Street Journal.

Some analysts had estimated that Busch Entertainment would fetch $4 billion.

Anheuser-Busch acquired SeaWorld San Diego in 1989 as part of a package of six theme parks from Harcourt Brace Jovanovich for $1.1 billion. The publisher owned the parks from 1976 to 1989.


Plan To Increase Staffing

The park’s employment ranges from about 2,000 during the offseason to 3,000 to 4,000 in July and August. This year’s high season staffing was slightly lower than last year, but the park is expecting to increase staffing next year, mainly due to the new show, Fichthorn said.

He declined to provide specific numbers.

About the only minor change from the sale will be relocating the Budweiser Clydesdale horses from their current barn next to the Seaport Marketplace restaurant to an Anheuser-Busch facility later this year or next, Fichthorn said.

The Blue Horizon show will be among the biggest changes at SeaWorld San Diego in recent years. In 2004, it built a themed roller coaster ride called Journey to Atlantis. The park also introduced a new Shamu show in 2006, and built a children’s play area last year.

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