09-11 Jun 2026
Savutuvan Apaja,
Haapaniemi,
Finland
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09-12 Jun 2026
Hotel Cascais Miragem Health & Spa,
Portugal
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21-23 Jun 2026
Midlands (Venue TBA),
Liphook,
United Kingdom
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22-22 Jun 2026
Worldwide,
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03-05 Jul 2026
Copenhagen,
Copenhagen,
Denmark
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19-21 Jul 2026
The Global Ambassador ,
Phoenix,
United States
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22-25 Jul 2026
The Global Ambassador ,
Phoenix,
United States
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23-26 Aug 2026
The Riviera Maya Edition Kanai,
Playa del Carmen,
Mexico
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| Zhonghong loan default will not affect SeaWorld finances, says Antorcha |
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| By Tom Anstey 08 May 2019 |
In its Q1 earnings report, SeaWorld increased revenues by US$3.4m
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SeaWorld CEO Gus Antorcha has revealed more details about its failed China projects, after its majority shareholder, Zhonghong Group, defaulted on outstanding loan payments forcing the operator to terminate exclusivity agreements with the property developer.
When Zhonghong acquired a 21 per cent stake in SeaWorld from Blackstone in 2017, two agreements were then put in place: one for Park Exclusivity and Concept Design (ECDA); the second for Center Concept and Preliminary Design (CDSA). Under the terms of these agreements, SeaWorld would have provided guidance, input and expertise relating to strategic planning, concept and preliminary design of Zhonghong's family entertainment centres.
Speaking during an earnings call, Antorcha said that when Zhonghong acquired its stake in SeaWorld, part of that acquisition included shares of common stock which secured its loan obligations. When Zhonghong defaulted on its loan, the lenders took ownership of those shares.
"These matters are primarily between Zhonghong and its lenders, and we do not expect these matters to have a material effect on our business, financial position or results of operations," said Antorcha.
"In connection with these events, Yongli Wang, one of Zhonghong's representatives on our Board, has resigned from our Board. We have asked Yoshi Maruyama to remain as board chair given his experience and skill set."
SeaWorld recorded revenue of US$5.1m (€4.55m, £3.92m) in 2018 through the agreements, with US$1.5m (€1.34m, £1.15m) being received on its balance sheet by the end of 2018. In addition, around US$1.7m (€1.52m, £1.31m) is expected to be recouped, relating to "non-refundable amounts which were received from Zhonghong prior to the termination under the terms of the Zhonghong agreements".
In its Q1 earnings report, SeaWorld increased revenues by US$3.4m (€3m, £2.6m) to US$220.6m (€196.8m, £169.5m). For the quarter, the company made a net loss of US$37m (€33m, £28.4m), significantly cutting a US$62.8m (€56m, £48.2m) loss for the same period in 2018. Adjusted EBITDA was US$16.4m (€14.6m, £12.6m), an improvement of US$14.1m (€12.6m, £10.8m), over the first quarter of 2018.
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| News |
| 1 to 12 of 9470 news stories |
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10 Jun 2026
Rosewood Le Guanahani St Barth, on the northeast coast of Saint Barthélemy in the French West Indies, is offering a programme of ocean-inspired yoga classes between 8-14 June to celebrate Global Wellness Day (GWD). GWD ... More
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09 Jun 2026
The Ritz-Carlton, Langkawi, in Malaysia, has revealed a schedule for Global Wellness Day (GWD) that includes guided rainforest walks, mindful movement and guided coastal meditation experiences. Founded in 2012 by Belgin Aksoy in Turkey, GWD ... More
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05 Jun 2026
Mexican operator, Solmar Hotels and Resorts, is hosting a series of events in celebration of Global Wellness Day, including a Temazcal ceremony at its Playa Grande Resort and Spa in Los Cabos. The not-for-profit movement, ... More
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12 Jun 2026
Global Wellness Day (GWD) will mark its 15th anniversary on Saturday 13 June 2026, with the theme: #JoyMagenta – a celebration of the healing qualities of simple gestures and activities that spark joy. Founded in ... More
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03 Jun 2026
Four Seasons Resort The Nam Hai in Hoi An, Vietnam, has put together a Global Wellness Day (GWD) agenda with activations rooted in nature and shaped by four pillars of Joy – in alignment with ... More
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01 Jun 2026
Rainer Maelzer, an experiential entertainment innovator, has been appointed chief entertainment officer by Therme Group. With decades of experience in immersive water-based attractions, Maelzer will lead the development and global delivery of the company’s recreational ... More
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03 Jun 2026
Lithuanian care operator Addere Care has launched a “wellness care hospital” in Vilnius. It's the company’s second Lithuanian site, following a hospital in Trakai, but the first to offer professional medical care in a spa ... More
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28 May 2026
Auko, an all-inclusive development, is opening in Phong Nha in Vietnam in Q3 2026, with a series of 30 tented eco-lodges and wellness hospitality operations by Lumina Wellbeing. Van Phu Real Estate Development JSC owns ... More
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05 Jun 2026
A recent survey by the UK Spa Association (UKSA) into the industry’s approach to cancer care has revealed that almost half of participating respondents (46 per cent) are unaware that cancer is a disability and ... More
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26 May 2026
Wellness and hospitality thought leaders gathered recently for a workshop at Yasuragi, the Japanese spa and conference hotel near Stockholm. The purpose was to shape the FIBO Longevity and Hospitality Summit, which will happen in ... More
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27 May 2026
LVMH-owned beauty house Guerlain will launch up to five spas with partners a year as part of its plan to expand globally, according to the brand’s international spa and wellness director, Diane Davody. In an ... More
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27 May 2026
A new global study by Kevin Kelly and Peter Yesawich, called WELLSurvey 2.0, has revealed more than half of consumers in the UK, US and Germany would not choose numerous high-profile wellness resort brands for ... More
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| Bellezi |
| Founded in 2009 as a Dutch family business, Bellezi brings more than 20 years of experience in
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