Dolphin Cove Limited has resumed operations at two of its major properties following the passage of Hurricane Melissa which resulted in restoration costs of US$300,000 ($48.30 million).

The dolphin attraction reopened its Ocho Rios and Yaaman Adventure Park locations in St Ann on November 10, 12 days after the passage of the hurricane. The company indicated in its third-quarter report (July to September) that it expected to reopen its Hanover (called Montego Bay from a branding perspective) and Moon Palace, St Ann locations by December 15, the start of the winter tourism season.

Checks on the company’s website revealed that the Hanover location is open for bookings and is closed on Monday, Friday and Saturday. However, the Puerto Seco Beach location has no available dates until January 1. Dolphin Cove’s Ocho Rios location is now open daily and is offering discount packages up to 20 per cent while the Yaaman location is opened every day except for Thursday and is offering special packages for Jamaicans.

Dolphin Cove’s revenue for the third quarter increased eight per cent to US$3.46 million which was supported by a 15 per cent rise in ancillary revenue and a three per cent increase in visitors to 40,061 visitors. With operating expenses remaining flat at US$2.35 million, Dolphin Cove’s operating profit increased 38 per cent to US$706,696 ($112.53 million). Even with lower finance costs and higher taxes, Dolphin Cove’s net profit increased 144 per cent from US$206,780 to US$503,808.

“In the hotel market, we continue to observe a positive trend among guests seeking adventure-oriented experiences. On the other hand, the cruise market experienced a temporary setback, resulting in a shortfall of approximately 1,742 passengers during the period. Meanwhile, the local market, particularly for Yaaman, has shown a slight decline compared to previous years. This decrease is largely attributed to the increased competition in the area,” the report stated.

For the overall nine months period, Dolphin Cove’s revenue decreased one per cent to US$11.82 million with operating profit marginally down to US$3.12 million. Lower finance costs resulted in the company’s net profit rising four per cent to US$2.43 million. The company’s nine months’ earnings exceeded the 2024 figure of US$1.83 million. Also, the Ocho Rios Port which was closed in February 2024 due to damage reopened on November 12 as it welcomed passengers again.

Dolphin Cove’s asset base decreased one per cent during the nine months to US$36.73 million (J$5.85 billion) with current assets at US$5.89 million, including US$523,327 in cash. World of Dolphin Inc, Dolphin Cove’s parent company, repaid US$848,648 owed to Dolphin Cove in the second quarter with US$1.17 million repaid by related parties. Total liabilities decreased 22 per cent to US$5.04 million with the company clearing its bank overdraft and reducing its external debt to US$769,952. That reflects a debt to equity ratio of 0.02 times with shareholder’s equity rising three per cent to US$31.69 million. Dolphin Cove paid a J$0.60 totalling J$235.46 million (US$1.48 million) on June 27.

Dolphin Cove’s stock price remains down 37 per cent in 2025 as it has swung from $18.50 to $11.59 on Tuesday, translating to a market capitalisation of $4.55 billion. The decline in the company’s stock price can largely be attributed to the developments taking place around Leisure Investments Holdings LLC, the ultimate parent company of Dolphin Cove, and former director Eduardo Albor Villanueva.

The chapter 11 bankruptcy proceedings taking place in Delaware is being overseen by Steven Robert Strom and his team. World of Dolphins announced in September that it was seeking to sell its 79.99 per cent stake in Dolphin Cove to interested parties with there being no additional updates.

Strom’s team has overseen the sale of certain live assets (dolphins and other animals) and properties in the United States of America, but the Mexican process has been complicated with the asset sale hearing postponed following submissions by different parties. Leisure Investments entered chapter 11 proceedings on March 31.