Credit: Image source: SeaWorld Entertainment.
Image source: SeaWorld Entertainment.
SeaWorld Orlando began offering the Transferable Pass in September, a yearlong ticket that can be purchased along with a regular annual pass. It allows an annual passholder the ability to bring any guest into the park. It costs $40 more than a regular annual pass, but the transferability from visit to visit makes it attractive.
It's a smart offering. It will lead to passholders bringing new guests into SeaWorld Orlando. SeaWorld has been sprucing up its park over the years, and someone who may have stayed away figuring that it was just a place with controversial killer whale shows could be in for a pleasant surprise if escorted in for free with an active annual passholder. SeaWorld is investing a big $175 million across all of its parks for 2017, and that includes a virtual-reality update to the Kraken coaster. The Transferable Pass is a good way to throw out a larger net.
Hammering home the conservation message
Activists still have their beefs with SeaWorld, and that may never truly change. However, the park operator is no longer struggling to get its side of the story out. Sea Rescue -- a Saturday morning TV show detailing the marine life rescue efforts by SeaWorld -- is likely playing on your local ABC affiliate.
SeaWorld also got the Humane Society to back its efforts to scale back killer whale performances, and even conservationist Guy Harvey has painted a mural at SeaWorld Orlando. If you hated SeaWorld before, you may merely dislike it now. If you didn't have an opinion, SeaWorld is doing a better job of positioning itself as a place that takes care of animals.
Refraining from the big price hikes found elsewhere
Disney and Comcast have been making the most of their popularity, and that involves some pretty dramatic increases in admission prices. Disney shifted to demand-based pricing for one-day tickets, making a visit to one of its Florida parks 18% more expensive now than it was a year ago during peak season. Universal has jacked up prices for its annual prices three times since April of last year.
SeaWorld has inched some prices higher in recent years, but for the most part, it has kept increases in check. It can now feasibly present itself as a value proposition relative to the larger Comcast and Disney. We'll find out tomorrow if any of these efforts are working.
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Rick Munarriz owns shares of SeaWorld Entertainment and Walt Disney. The Motley Fool owns shares of and recommends Walt Disney. Try any of our Foolish newsletter services free for 30 days . We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
