Attractionswww.attractionsmanagement.com VOL 19 Q1 2014 Attractionswww.attractionsmanagement.com VOL 19 Q1 2014 NEW OPENING Stonehenge's £27m landmark Czech Republic's fi rst visitor scheme 3D planetarium TECH Latest apps & audioguides HOW TO BUILD A $6BN COMPANY MAPPING MERLIN’S RISE + CEO NICK VARNEY ON THE FUTURE Riding the MUSEUMS next wave Click here to subscribe to the print edition What's new for Hans-Martin Hinz on www.attractionsmanagement.com/subs waterparks? the work of ICOM Read Attractions Management online: www.attractionsmanagement.com/digital follow us on twitter @attractionsmag THEME PARKS | SCIENCE CENTRES | ZOOS & AQUARIUMS | MUSEUMS & HERITAGE | TECHNOLOGY | DESTINATIONS | EXPOS | WATERPARKS | VISITOR ATTRACTIONS | GALLERIES | ENTERTAINMENT A Red Star fi lm [email protected] | nWave.com Directed by Ben Smith /nWavePicturesDistribution Available in 4D/3D Exclusively /nWavePictures From nWave Pictures Distribution /nWave TheLostWorld.nWave.com nWave® is a registered trademark of nWave Pictures SA/NV ©2013 nWave Pictures SA/NV – All Rights Reserved | ©2013 Red Star Films Ltd. – All Rights Reserved MAY 2014 Directed by Ben Stassen & Jeremy Degruson Available in 4D/3D Exclusively From nWave Pictures Distribution [email protected] | nWave.com /nWavePicturesDistribution /nWavePictures /nWave TheHouseOfMagic.nWave.com nWave® is a registered trademark of nWave Pictures SA/NV | ©2013 nWave Pictures SA/NV – All Rights Reserved In 2014 nWave Pictures Distribution promises you a year fi lled with surprises! JANUARY FEBRUARY MAY 3D/2D Ride Simulation Film 3D/2D Giant Screen Film 4D/3D Attraction Film Duration: 5 minutes Duration: 40/20 minutes Duration: 12 minutes And more to be unveiled soon! A Leader in the Production and Distribution of 4D/3D Immersive Content AMERICAS | Janine Baker: +1 818-565-1101 [email protected] INTERNATIONAL | Goedele Gillis: +32 2 347-63-19 [email protected] [email protected] | nWave.com /nWavePicturesDistribution | /nWavePictures | /nWave nWave® is a registered trademark of nWave Pictures SA/NV | ©2013 nWave Pictures SA/NV – All Rights Reserved blog.leisuremedia.com CREATING WEALTH Great companies like Merlin Entertainments generate whole ecosystems around themselves, with employees and their families, shareholders, investors, suppliers, stakeholders and customers benefiting from the wealth, energy and opportunity they create n this issue of Attractions Management we pause to The money came from all over the world: current fund CVC take a special, in-depth look at Merlin Entertainments, raised 46 per cent of its investment in the US, 17 per cent in following its successful floatation in November last year Europe and 16 per cent in the UK, with the rest coming from I and news it’s been named New Company of The Year Asia, the Middle East and Canada, so Merlin’s powers of 2013 at the London Stock Exchange PLC Awards (page 30). wealth generation have benefited investors globally. Great companies generate whole financial eco-systems And the company generates value in other ways too. As around themselves and a look at the numbers gives clues a facility-based business, Merlin strikes property deals to the extent of that developing around Merlin. according to what’s appropriate, and those involved – such Although its value at floatation was around $5bn, it’s as Prestbury, which did a sale and leaseback deal with already added $1bn to this, Merlin in summer 2007 – as well as reporting trading have seen the value of their figures with an EBITDA of Those of us with long enough covenants strengthened by £390m and an increase in memories and faith in this the increase in value. operating profit of 12.3 per But with Merlin, the end- cent on like for like revenue sector recall the days when game is always the customer. growth of 6.7 per cent. being called a Mickey Mouse Nearly 60 million people Merlin employs 22,000 business was an insult enjoyed the attractions last people and thousands year and Varney told us he who were shareholders at was adamant the floatation the time of the floatation should be open to them, say- benefited from it. In addition, 3,000 employees have taken ing: “Some people tried to talk us out of having a retail offer advantage of a sharesave scheme introduced in January. because of the huge administrative burden involved. But In his report on page 32, Deloitte’s Nigel Bland examines this is a company people really want to own shares in – we the organisations and individual investors who’ve benefited sold 12.5 per cent to the general public.” from involvement with Merlin. It’s a long list, including Those of us with long enough memories and faith in the investment vehicles such as Apax, Blackstone, CDC, CVC, industry recall the days when it commanded no respect DIC, F&C/Graphite, HPE, Kirkbi A/S and Pearson, the among investors or governments and being called a Mickey former owner of The Tussauds Group. Mouse business was an insult. How times have changed. Two represented private money: DIC who invested for the Varney and his team have turned this right around and you crown prince of Dubai and Kirkbi for Lego’s founders, while feel they’re really only just getting started. Bland says HPE was owned by BT’s pension fund, so those with BT pensions will benefit from this slice of investment. Liz Terry, editor, twitter: @elizterry Tel: +44 (0)1462 431385 leisuremedia.com @attractionsmag [email protected] AM 1 2014 ©Cybertrek 2014 Read Attractions Management online attractionsmanagement.com/digital 7 the team READER SERVICES Subscriptions Denise Adams +44 (0)1462 471930 Circulation manager Choose how you read Michael Emmerson +44 (0)1462 471932 Attractions Management... 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