URBAN AIR ADVENTURE PARK ANNOUNCES 2019 YEAR IN RESULTS: DIVERSE AND ROBUST
DALLAS, TX – January 15, 2020 – Urban Air Adventure Park, the world’s leader in active indoor family entertainment, announced today record performance in 2019 with over 30 million guests visiting a Park last year. Key components of a successful business model that generated robust and recurring cash flow for Urban Air franchisees included the launch of the Endless Play Membership Program, a first for the Family Entertainment industry. Over half of the company’s franchisees systemwide are reinvesting their earnings and opening additional Urban Air Parks leading to a record number of openings in 2019 with 54 new locations in the United States and Urban Air’s first signed agreement in Saudi Arabia.
“Our outstanding performance rounded out an extraordinary year of industry-leading growth and profitability,” said Michael Browning, President and CEO. “Our innovation, diversification and scale uniquely position us to continue taking share while delivering improved operating margins and driving growth in 2020.”
Here are some of the tremendous achievements that led to a banner year:
- Systemwide revenue totaled a record $215 million, a 100% increase from 2018. The increase reflects increases in attendance and in-park per-capita spending.
- Urban Air Adventure Park became the world’s largest indoor theme park with 267 Parks open and under development. Parks added attractions such as indoor sky diving; multi-level high performance electric go-karts; Spin Zone bumper cars; Virtual Reality; Bowling and a re-design of Urban Café’ offering in-park food and beverages.
- The world’s first immersive reality arena, allowing guests to be surrounded by 360 degrees of a virtual gamified arena and experience a virtual sensation never seen before.
- Urban Air created and launched a new operational park analytics support program to assist franchisees improve their park performances. The first peer-elected Franchise Advisory Council was formed to steer constructive feedback from the franchise base. Regional franchise town halls were held systemwide.
- Corporate headquarters in Dallas, Texas nearly doubled their workforce, supporting growth in recruiting, real estate development, marketing, supply chain and senior leadership.
- International expansion includes current Parks in China, Canada and Saudi Arabia set to open in late 2020.
- Numerous awards boosted the company’s industry profile including naming Urban Air CEO and founder Michael Browning IAAPA’s 2019 Young Professional of the year. Entrepreneur Magazine ranking Urban Air #1 in best family entertainment category and Ernst & Young also named CEO Michael Browning Entrepreneur of The Year® 2019 in the Southwest division.