Merlin Entertainments: Madame Tussauds owner thanks London tourists for ‘record’ sales

The owner of the London Eye and Madame Tussauds said one in four visitors who came to the capital visited one of its attractions, helping boost yearly sales to a record high.

The owner of the London Eye and Madame Tussauds has said one in four visitors who came to the capital visited one of its attractions, helping boost yearly sales to a record high.

Merlin Entertainments, which also owns the London Dungeon and Sherk’s Adventure on Westminster, reported an eight per cent increase in revenues to £2.1bn and adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) of £662m.

The privately owned business, supported by Blackstone, Canadian Pension Plan Investment Board (CPPIB).and Kirkbi A/S, said globally 62m guests came through its doors, 7m more than the year before.

Scott O’Neil, chief executive officer, Merlin Entertainments, said: “In 2023, Merlin Entertainments began a significant transformation, setting a new strategy, assembling a diverse and dynamic leadership team, and investing in capability building to position Merlin for the next phase of growth.

“In a year of record revenue and a 13 per cent visitor increase over 2022, we are humbled, inspired, and emboldened that the 62m guests who visited our 141 theme parks and attractions around the world reported the highest levels of guest satisfaction in Merlin history.”

Merlin operates over 120 attractions in more than 20 countries around the world, including Hong Kong and Texas.

It said today it would also acquire the Orlando Wheel at ICON Park, the tallest observation wheel on the United States’ East Coast. Co-located with Merlin’s existing Sea Life aquarium and Madame Tussauds sites.

O’Neil said: “Today’s acquisition of the Orlando Wheel in the vitally important tourist hub of Orlando demonstrates this new Gateway strategy in action and serves to replicate our successful London Gateway formula, whereby we have clustered four of our branded attractions alongside the iconic anchor that is The London Eye.

“Similarly, The Orlando Eye by Merlin Entertainments will become an unmissable stop on visitors’ itineraries, connecting guests to our wider portfolio of premium attractions and resort theme parks in and around Orlando.”

Blackstone, CPPIB. and Kirkbi A/S took Merlin Entertainment private in 2019 in a deal which valued the firm at $7.5bn (£5.9bn).