Blackpool Pleasure Beach has closed some rides for this year due to high inflation, high interest rates and “significant increases” in the minimum wage.
The UK theme park has closed five rides – Eddie Stobart Convoy, Alpine Rallye, Thompson Carousel, Gallopers and Red Arrows Skyforce.
Also, some attractions at Blackpool Pleasure Beach will open later and close earlier than others as the park attempts to reduce costs.
In a statement in February, Pleasure Beach said: “The smaller rides were already being run on reduced opening times and our rider data showed that they have some of our lowest throughput, while Skyforce is 10 years old this year.
“After a great deal of thought, it was clear to us that the right decision is to make changes which will allow us to reinvest into a bigger and better future.”
In new accounts for its latest financial year ended 24 March 2024, Pleasure Beach has posted a turnover of £37.2 million, the same as the prior year, and a loss of almost £1.7m.
“The continuing cost of living crisis has made customers hesitant. Poor weather during key trading periods also acted as a contributor restricting visits to the park and the hotel,” the theme park said in the financial results.
“Cost of living crisis has made customers hesitant”
“High inflation, high interest rates and significant increases in the minimum wage puts additional stress on our cost lines making profit harder to achieve.”
The park added: “The financial year… [saw] the continuation of the challenges felt in the previous year with the continuing cost of living crisis putting a squeeze on the disposable income of our customers.
“As a result our attendances have remained relatively flat whilst increasing cost pressures as a result of high inflation and most notably the increase in national minimum wage makes trading again very challenging.”
Pleasure Beach said trading in the current year “has been extremely difficult due to many external factors beyond our control”.
It said: “The cost of living crisis is ongoing. We do not foresee any short term change. We continue to review our operation with a view to making the business more efficient and sustainable.”
This includes a review of the park’s attractions, and the instigation of a “headcount review”.
In addition, the park is “looking at how we profile the opening and closing times of both individual rides and the park itself with a view to maximising efficiency (and therefore cost) whilst balancing it with achieving great customer satisfaction”.
Last week, Pleasure Beach unveiled plans for a new £8.72 million attraction, set to be the UK’s largest swinging pendulum ride.
Images courtesy of Blackpool Pleasure Beach
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