Strategy analysis theme parks

2,320 views
2,093 views

Published on

A strategic analysis of Italian theme parks, trends, future perspectives and challenges.

Published in: Education

Strategy analysis theme parks

  1. 1. BusinessBusinessBusinessBusiness StrategyStrategyStrategyStrategy –––– MasterMasterMasterMaster TourismTourismTourismTourism Management XManagement XManagement XManagement X Costanza Castellani Lisa Gruber Carol Kantor Pierangela Mancuso
  2. 2. Approximately 240 ◦ Mostly in the North Theme Parks Family Natural Aquarium Thematic DidacticLuna Aqua Zoo Adventure
  3. 3. Number of Parks per Category Concentration of Parks per Region 8%8%8%8% 31%31%31%31% 9%9%9%9% 34%34%34%34% 1%1%1%1% 5%5%5%5% 3%3%3%3% 6%6%6%6% 2%2%2%2% 1%1%1%1% family park aqua park zoo park adventure park natural park aquarium thematic park didactic park Luna park botanic park 11% 11% 11% 9% 9%9% 40% EMILIA ROMAGNA LOMBARDIA PIEMONTE TOSCANA VENETO LAZIO OTHER REGIONS
  4. 4. Demographic : -Mainly families with kids -Teenagers Geographic : -Italian market -Foreigners (especially in hahahahahahahahaGardaland and Mirabilandia) Length: -Day trips / weekend
  5. 5. •Analysis Characteristics • From these 240 parks, most are very small permanent parks • Theme Parks and Aqua Parks are the largest and account for around 90 structures • The industry analysis was made based on figures of these 90 parks, especially the Top 10 Capital Intensive Seasonal Competes with several other types of entertainment or leisure activities
  6. 6. Top 10 Parks based on Sales Last available year / in € thousands Year Sales GARDALAND S.R.L. 2012 101,006 PARCO DELLA STANDIANA S.R.L. 2013 35,401 RAINBOW MAGICLAND SRL 2012 29,702 ZOOMARINE ITALIA S.P.A. 2012 12,998 CANEVAWORLD RESORT S.R.L. 2012 10,904 IDRORAMA S.R.L. 2013 9,704 LEOLANDIA S.P.A. 2012 8,894 BLUWATER S.P.A. 2012 7,329 L ANCORA SRL 2012 7,257 SOCIETA' EMILIANA PARCHI ATTRAZIONI RAVENNA - S.E.P.A.R. - S.P.A. 2012 6,366
  7. 7. GardalanGardalanGardalanGardalan dddd 35%35%35%35% MirabilanMirabilanMirabilanMirabilan diadiadiadia 12%12%12%12% RainbowRainbowRainbowRainbow MagiclandMagiclandMagiclandMagicland 10%10%10%10% Other 7Other 7Other 7Other 7 22%22%22%22% OthersOthersOthersOthers 20%20%20%20% Market ShareMarket ShareMarket ShareMarket Share 2012201220122012 GardalandGardalandGardalandGardaland 34%34%34%34% MirabilandiMirabilandiMirabilandiMirabilandi aaaa 8%8%8%8%RainbowRainbowRainbowRainbow MagiclandMagiclandMagiclandMagicland 19%19%19%19% Other 7Other 7Other 7Other 7 18%18%18%18% OthersOthersOthersOthers 22%22%22%22% Total AssetsTotal AssetsTotal AssetsTotal Assets 2012201220122012
  8. 8. -160.000-160.000-160.000-160.000 -140.000-140.000-140.000-140.000 -120.000-120.000-120.000-120.000 -100.000-100.000-100.000-100.000 -80.000-80.000-80.000-80.000 -60.000-60.000-60.000-60.000 -40.000-40.000-40.000-40.000 -20.000-20.000-20.000-20.000 ---- 20.00020.00020.00020.000 2008200820082008 2009200920092009 2010201020102010 2011201120112011 2012201220122012 €€€€thsthsthsths Net Income TOP10Net Income TOP10Net Income TOP10Net Income TOP10 2008200820082008 ---- 2012201220122012 Gardaland Mirabilandia Rainbow Magicland Zoomarine Canevaworld Idrorama Leolandia Bluwater L'Ancora Ravenna
  9. 9. -15.000-15.000-15.000-15.000 -10.000-10.000-10.000-10.000 -5.000-5.000-5.000-5.000 ---- 5.0005.0005.0005.000 10.00010.00010.00010.000 15.00015.00015.00015.000 2008200820082008 2009200920092009 2010201020102010 2011201120112011 2012201220122012 €€€€thsthsthsths Net Income TOP10Net Income TOP10Net Income TOP10Net Income TOP10 excluding Gardalandexcluding Gardalandexcluding Gardalandexcluding Gardaland 2008200820082008 ---- 2012201220122012 Mirabilandia Rainbow Magicland Zoomarine Canevaworld Idrorama Leolandia Bluwater L'Ancora Ravenna
  10. 10. -15.000-15.000-15.000-15.000 -10.000-10.000-10.000-10.000 -5.000-5.000-5.000-5.000 ---- 5.0005.0005.0005.000 10.00010.00010.00010.000 15.00015.00015.00015.000 2004200420042004 2005200520052005 2006200620062006 2007200720072007 2008200820082008 2009200920092009 2010201020102010 2011201120112011 2012201220122012 €€€€thsthsthsths Net IncomeNet IncomeNet IncomeNet Income 2004200420042004 ---- 2012201220122012 Mirabilandia Rainbow Magicland Zoomarine Canevaworld Idrorama L'Ancora Ravenna
  11. 11. NOT ANOT ANOT ANOT A PROFITABLEPROFITABLEPROFITABLEPROFITABLE INDUSTRYINDUSTRYINDUSTRYINDUSTRY
  12. 12. IncumbentsIncumbentsIncumbentsIncumbents SupplierSupplierSupplierSupplier SubstituteSubstituteSubstituteSubstitute BuyersBuyersBuyersBuyers PotentialPotentialPotentialPotential EntrantsEntrantsEntrantsEntrants Incumbents:Incumbents:Incumbents:Incumbents: - High concentration (oligopoly) - Diversity - High product differentiation - Unused capacity issues, Seasonality - Sunk costs (Exit barriers) - Economies of scale - Muted price competition LOW RIVALRY SubstituteSubstituteSubstituteSubstitute - No propensity of buyers to switch Potential EntrantsPotential EntrantsPotential EntrantsPotential Entrants - Sunk Costs - Huge capital requirements: - Economies of scale for existing companies -Cost Advantage for existing companies -brand recognition, customer loyality for existing companies - Smaller channel distribution availability -Governmental barriers SuppliersSuppliersSuppliersSuppliers - Bargaining power depends on the supplier e.g.: Big supplier (Mc Donalds) vs. local supplier BuyersBuyersBuyersBuyers - Individuals: Low bargaining power - Groups: medium bargaining power
  13. 13. Target:Target:Target:Target: family (children) – others Geographical ScopGeographical ScopGeographical ScopGeographical Scope: from regional to international NB:NB:NB:NB: the analysis took into account aquatic parks and thematic parks 38% of the total industry (as showed in the industry analysis)
  14. 14. aquatic parks: all over in Italy, it’s not the same Geographical Scope: Regional or interregional in the South (vice versa in the North) target: wide (from Family to others) thematic parks: 6 + 26 + 26 + 26 + 2; 1 pipeline 1 under construction mostly internationally oriented thematic parks 8 Cinecittà World (unders construction) 1 Castel Romano (Roma) 1 Fiabilandia 1 Rivazzurra (Rimini) 1 Gardaland 1 Castelnuovo del Garda (Verona) 1 Mediapolis (in progetto) 1 Albiano d'Ivrea (Torino) 1 Mirabilandia 1 Loc. Mirabilandia (Ravenna) 1 Miragica 1 Molfetta (Bari) 1 Movieland Park - Canevaworld 1 Lazise (Verona) 1 Rainbow MagicLand 1 Valmontone (Roma) 1
  15. 15. OperationsOperationsOperationsOperations Entertainment: roller costers &&&& shows and exhibitions One new attraction every year Sea Life Aquarium (inside the park) Gardaland Waterpark (in Milan) F&B offered inside the park: everything insourced New target: Business events & meetings inside the park Maintenance Engineering
  16. 16. MarketingMarketingMarketingMarketing Exclusive cooperations with movie production companies Gardaland on Facebook: used to create loyal guests, realising some «secrets» just online Cooperation with some OTA (Expedia, Volagratis) Partnership with Sammontana and Esselunga ServiceServiceServiceService Maintenance Engineering
  17. 17. HRHRHRHR High turnaround: 240 full time employees, 1500 seasonals Constant training: numerous workshops for the development of the product and the image of the park PurchasingPurchasingPurchasingPurchasing Mainly for the F&B
  18. 18. Segmentation (families with kids; others) Geographic scope Vertical Integration local low 2 (Hotel/Meeting) Related Business
  19. 19. X DIFFERENTIATIONDIFFERENTIATIONDIFFERENTIATIONDIFFERENTIATIONCOSTCOSTCOSTCOST BROADBROADBROADBROAD NARROWNARROWNARROWNARROW
  20. 20. x P.P. > E.C.P.P. > E.C.P.P. > E.C.P.P. > E.C.P.P. < E.CP.P. < E.CP.P. < E.CP.P. < E.C UNIQUEUNIQUEUNIQUEUNIQUE NOTNOTNOTNOT UNIQUEUNIQUEUNIQUEUNIQUE

×