Madrid, Thursday, 25 September 2025.
EQT has structured a roughly €1.043 billion refinancing of Parques Reunidos while approving a dividend, even as the operator expands corporate and union discounted passes (Bono Oro/BonoParques) to drive attendance. For retail and ticketing leaders, the most striking fact is the simultaneous extraction of liquidity and the commercial deployment of subsidised volume channels. Expect intensified focus on covenant terms and dividend mechanics, possible reprioritisation or delay of capital expenditure for park investments, and margin pressure from lower per-head spend as bulk channels scale. Sales and distribution should model channel economics and upsell conversion under higher corporate/union share; merchandising, F&B and retail teams must adapt assortment, pricing and capacity plans to protect spend per guest. Operationally, monitor crowding effects and ancillary-sales performance. In short: finance-driven balance-sheet optimisation plus demand-led discounting reshapes negotiation power and forces practical adjustments across retail, pricing and guest monetisation strategies.