2018 Outlook on the Attractions Industry. Prepared by Jerry Henry, Chief Executive Officer

Transcription

1 2018 Outlook on the Attractions Industry Prepared by Jerry Henry, Chief Executive Officer

2 The Attractions Industry has many different parts. Theme Parks (37%) Old Homes (15%) Historic Landmarks (45%) Museums 48% Landmarks 45% Zoos 45% Theaters 40% Theme Parks 37% FECs 31% Aquariums 28% Sightseeing Tours 23% Water Parks 22% Brewery Tours 21% Art Galleries 21% Botanical Gardens 20% Science Attractions 19% Dinner Theaters 17% Old Homes/Mansion 15% Other 4% Museums (48%) Zoos (45%) Aquariums (28%) % = Incidence among attraction households

3 This complexity had made it difficult to measure. Incidence of Attractions Industry HHs: Museums 48% Landmarks 45% Zoos 45% Theaters 40% Theme Parks 37% FECs 31% Aquariums 28% Sightseeing Tours 23% Water Parks 22% Brewery Tours 21% Art Galleries 21% Botanical Gardens 20% Science Attractions 19% Dinner Theaters 17% Old Homes/Mansion 15% Other 4%

4 Voice of the Visitor Helps to Bridge that Gap PGAV Destinations, the global leader in the planning and design of unique destinations, partnered with H2R Market Research and Blooloop to develop & publish the annual, Voice of the Visitor research study. The only consumer based aggregate attractions industry study available. Our third edition of VOV will be conducted again with updated results to be published by PGAV in the February Follow H2R Market Research, Blooloop and PGAV Destinations for updates. Source: 2017 Voice of the Visitor; PGAV Destinology, H2R Market Research & Blooloop.com 4

5 Since launching VOV, much has been learned about the attractions industry. Overall, 81% of U.S. Households Visited at Least One Attraction in 2016 Incidence of Attractions Industry HHs: Museums 48% Landmarks 45% Zoos 45% Theaters 40% Theme Parks 37% FECs 31% Aquariums 28% Sightseeing Tours 23% Water Parks 22% Brewery Tours 21% Art Galleries 21% Botanical Gardens 20% Science Attractions 19% Dinner Theaters 17% Old Homes/Mansion 15% Other 4% Source: 2017 Voice of the Visitor; PGAV Destinology, H2R Market Research & Blooloop.com

6 More U.S. households visit attractions than travel for leisure. 75% 81% Incidence of Leisure Travel Incidence of Attractions Visitation Source: H2R Market Research

7 Half of attractions visits are generated by travelers. % Visited Attractions While Traveling Type of Attractions Leisure Travelers Reported Visiting % 56% Historic Landmarks/Places Brewery/Winery Tours Sightseeing Tours Theme/Amusement Parks Dinner Theater/Cruises Old Homes/Mansions Aquariums Art Galleries Water Parks Museums Science Centers Zoos/Animal Attractions Botanical Gardens Family Entertainment Centers Theaters Large Format Theaters 77% 77% 76% 66% 64% 62% 55% 55% 51% 50% 48% 44% 41% 32% 25% 22% Source: 2017 Voice of the Visitor; PGAV Destinology, H2R Market Research & Blooloop.com 7

8 Millennials drive much of the attraction industry s visitation. % Attractions Visitation by Generational Cohort 39% 32% 24% 5% Millenials Gen X Boomers Pre Boomers 39% 31% Visits Popn 25% 27% Visits Popn 28% 31% Visits Popn 5% 12% Visits Popn Source: 2017 Voice of the Visitor; PGAV Destinology, H2R Market Research & Blooloop.com 8

9 Official 2017 performance results from the largest players will not be available until June But, the updated consumer-based VOV results will be published in February

10 Industry Forecast for 2017 Domestic attractions visitation increased 2.6% in 2016, slightly slower than the 2.7% increase recorded each of the two previous years % in % This is the fifth consecutive increase since posting a 0.7% decline in VOV projects a 1.5% increase in Source: 2017 Voice of the Visitor; PGAV Destinology, H2R Market Research & Blooloop.com

11 Growth continues overall. But, at a slower pace. YOY Variance in Visitation 4.5% 3.5% 2.5% 1.5% 0.5% 0.3% 0.9% 0.7% 2.8% 2.1% 2.7% 2.7% 2.6% 1.5% 0.5% 1.5% 2.5% 0.7% f Source: TEA/AECOM 2016 Global Attendance; The Morey Group; ESPN.com; Broadway League; NPS.com; June

12 History and Art Museums reported the strongest YOY growth last year. Variance in Visitation Reported 9.0% 7.0% 5.0% 3.0% 1.0% 1.8% 6.5% 1.2% 3.8% 2.7% 3.3% 5.7% 6.5% 1.0% 3.0% 0.6% 0.6% 5.0% Zoos Museums Theme Parks Aquariums Historic Sites Water Parks Science Centers Botanical Garden Art Museums Musical Theater SOURCE: TEA/AECOM 2016 Global Attendance; The Morey Group; Broadway League; June

13 Attendance at the Top 20 North American Theme Park, Water Park & Museums is tracked & reported by TEA/AECOM Top 20 Theme Park, Water Park & Museum Attendance Reported Millions % 0.6% +3.3% Top 20 N. American Theme Parks Top 20 Water Parks Top 20 Museums in N. America Source: TEA/AECOM 2016 Global Attendance, June

14 Top regional theme parks reported stronger growth last year than did destination parks. Annual YOY Variance Reported from Prior Year 8.0% 6.0% 4.0% 2.0% 3.9% 3.7% 3.6% 2.4% 1.4% 6.2% 4.7% 0.7% 2.9% 0.0% 2.0% 4.0% 3.1% Destination Theme Parks Regional Theme Parks Source: TEA/AECOM 2016 Global Attendance, June

15 Among cultural attractions, general admission visitation reportedly grew faster than did visitation from memberships. Annual YOY Variance Reported from Prior Year 6.0% 5.5% 5.4% 5.0% 4.0% 3.0% 2.0% 1.0% 2.8% 2.1% 2.3% 2.5% 1.2% 2.6% 2.5% 1.0% 0.0% Membership General Admission Source: The Morey Group, May

16 Overall leisure travel has also continued to grow. 3.5% 3.6% 2.6% 2.2% 1.5% 2.7% 1.7% 1.6% 1.6% 1.8% 1.9% 0.4% 2.5% f 2018f 2019f 2020f Source: U.S. Travel Association Travel Forecast 16

17 2018 Outlook for the Attractions Industry + 1.4% + 1.4% in 2018 Expect growth to continue across the attractions industry. +1.5% in 2017, +1.4% in 2018, preliminary. Watch for updated forecasts from VOV results due out in February Source: H2R Market Research

18 Three Key Takeaways 1. The attractions industry is big. More U.S. households visited attractions last year than who traveled for leisure (more than 50 miles from home). 2. Attractions visitors travel. More than half of attractions visitation last year was generated by travelers. 3. Growth keeps on rolling. While growth has slowed some since the post recession years, the industry continues growing.

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