Park attracts 501,394 visits in the third quarter Still faces headwinds of tough tourism market LONDON: Dubai theme park operator DXB Entertainments (DXBE) has posted a loss of 81 million dirhams ($22 million) for the third quarter as the company continues to battles headwinds in the tourism sector since the opening of its flagship theme park in late 2016. The loss was an improvement on the 105 million dirhams earnings before interest, taxes and amortization (EBITDA) loss the company reported in the third quarter of 2017, according to the filing on the Dubai stock exchange. The company’s main asset — Dubai Parks and Resorts — which features attractions inspired by “The Hunger Games” film as well as Bollywood Parks and Legoland, opened the first phase of the park in 2016. Visitor numbers have grown since then reaching 501,394 in the third quarter, a 5 percent increase on the same quarter last year. Year-to-date more than 1.9 million people have visited the park, an increase of 33 percent on the previous year. Revenue however has slipped in the third quarter, reaching 103 million dirhams compared to 115 million dirhams in the same time period in 2017. The third quarter is typically considered a slower period of growth due to the heat of the summer season putting off visitors. DXBE is aiming to increase the number of international visitors to its parks, launching a number of joint advertising campaigns with Dubai’s flagship airline Emirates and Dubai Airports in the last quarter, according to its statement. Mohamed Almulla, CEO and managing director, DXBE, said in a statement that the company would also be revising its pricing structure to increase admissions revenue. “Increasing in-park spend is an additional revenue driver which we are focused on through a review of merchandise and F&B options offered in the parks,” he said. He said that the business would continue “to focus on reaching EBITDA breakeven and we have achieved 51 percent improvement during the first nine months of 2018."