Dolphin Cove has big plans for Prospect Outback Adventure

Dolphin Cove has big plans for Prospect Outback Adventure

BY KARENA BENNETT Business reporter

Tuesday, August 23, 2016

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Dolphin Cove will be relaunching its Ocho Rios venue, Prospect Outback Adventure, as an all-inclusive theme park in a bid to increase tourist interest in the destination.

Already, the listed company has invested roughly US$2 million in the upgrading of its park in Jamaica as part of plans to make Dolphin Cove the signature attraction in the country.

"This is part of a long-term plan which is consistent with our long-term commitment to the community. We want all our guests to take home the memory of having lived the experience of a lifetime at Dolphin Cove in Jamaica, and we want all of you to feel proud to invest in this company as we devote to making dreams come true," said CEO of Dolphin Discovery Group, Eduardo Villanueva.

Regional Director of Jamaica Dolphin Cove Ocho Rios, Alex Raygoza, who was speaking at the company’s annual general meeting at the Courtleigh Hotel on Monday, told the Jamaica Observer that Dolphin Cove is increasing its capacity through the addition of photo services, increased attractions and an upgrade of the facilities.

"We are launching our park to become an all-inclusive park and we will also be changing the name. By the end of September guests will have the opportunity to do many activities at one place; they can dance, visit our heritage site, ride our camels, and this will be possible," Raygoza said.

"What we have seen is that guests, especially from the cruise ship who only have one day in Jamaica, they want to do many activities. So what we are doing is to put everything together in one place so they can enjoy Jamaica in one day," he told the
Business Observer.

"We have already taken on additional staff, and because of the nature of the business, we will need an additional 25 individuals when we launch."

Dolphin Cove closed the 2015 financial year with profits of $406.2 million, or a decline of $33.5 million from the $439.7 million it posted in 2014. Net working capital of the company totalled $376.2 million, up $125.9 million. It holds total shareholders’ assets of $229.8 million and equity of $2.7 billion.

According to CEO Stafford Burrowes, Dolphin Cove’s outlook remains very positive as it continues to benefit from the increasing numbers of new hotel rooms being constructed, and improvements being implemented in the vicinity of the Ocho Rios Cruise Terminal should bring greater guest satisfaction and an increase in cruise arrivals to this port.

"Our connection with Dolphin Discovery is a greater opportunity and their team has already started to introduce beneficial initiatives in relation to the physical plant, cost efficiencies and revenue enhancement," he stated in adjoining statement to the company’s financials.

"With the two ingredients of a solid market and a strong management team operating in a stable environment, we have good reason to be optimistic about the prospects of your company," Stafford noted to shareholders.

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