Who Owns United Parks & Resorts Company?

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Who Owns United Parks & Resorts?

United Parks & Resorts Inc., formerly SeaWorld Entertainment, Inc., rebranded on February 12, 2024. Headquartered in Orlando, Florida, the company began in 1964 with a marine zoological park concept.

The company now operates 12 parks across the US and Abu Dhabi, including SeaWorld and Busch Gardens. As of August 20, 2025, its market capitalization stood at approximately $2.78 billion.

Understanding the ownership of United Parks & Resorts is key to its strategic direction.

The ownership structure of United Parks & Resorts is a mosaic of institutional investors, individual shareholders, and its board of directors. A deep dive into its history reveals how this structure evolved from its inception.

Key institutional investors, such as Vanguard and BlackRock, hold significant stakes, reflecting broad market confidence. For instance, as of August 20, 2025, The Vanguard Group, Inc. reported ownership of over 7.5 million shares. Similarly, BlackRock, Inc. held approximately 6.8 million shares. These large holdings often come with considerable influence over corporate decisions and strategy. Examining a United Parks & Resorts PESTEL Analysis can provide further context on the external factors impacting its operations and, by extension, its ownership dynamics.

The board of directors, comprising individuals with diverse backgrounds in finance, entertainment, and operations, plays a crucial role in governance and strategic oversight. Their decisions directly impact shareholder value and the company's long-term vision. Understanding the interplay between major shareholders and the board is vital for a comprehensive view of the company's direction.

United Parks & Resorts, originally established as SeaWorld, was founded in 1964 by four UCLA graduates: George Millay, Milton Shedd, Ken Norris, and David DeMott. Their initial vision evolved from an underwater restaurant to a marine zoological park, with the first location opening in San Diego, California, on March 21, 1964.

Founding Vision

The initial concept for the company was an underwater restaurant. This idea was later revised to a marine zoological park.

First Location

The inaugural park opened in Mission Bay, San Diego, California. It commenced operations on March 21, 1964.

Initial Investment

The startup capital for the first park was approximately $1.5 million. This funding enabled the development and launch of the attraction.

Early Success

In its first year, the park welcomed over 400,000 visitors. This success was achieved with a small team of 45 employees.

Founders' Contributions

George Millay is credited as the primary visionary for the park's design. The founders' collective efforts established the company's foundation.

Early Financials

Details on early equity splits among founders and initial investors are not extensively documented in public records. The initial capital and rapid visitor growth set the stage for expansion.

The initial investment for the first park was around $1.5 million, a significant sum that facilitated the creation of the marine zoological park. In its inaugural year, the park attracted over 400,000 visitors, demonstrating strong early performance with a modest staff of 45 employees. George Millay is widely recognized for his role as the creative visionary, influencing the park's design and its commitment to being an original and well-maintained attraction. While specific details regarding early equity distribution among the founders and any initial angel investors are not readily available in public records, the company's rapid success provided a solid foundation for its subsequent growth and expansion, contributing to its long-term Mission, Vision & Core Values of United Parks & Resorts.

Founding Team

The company was founded by a group of four graduates from UCLA.

• George Millay
• Milton Shedd
• Ken Norris
• David DeMott

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The ownership journey of United Parks & Resorts has seen significant shifts, from its early days under Harcourt Brace Jovanovich, Inc. to its acquisition by Busch Entertainment Corp. and subsequent transition to public ownership. These changes have fundamentally reshaped its corporate structure and strategic direction.

Following its public offering in 2013, the company's ownership continued to evolve. Blackstone, a key player in its transition to a public entity, gradually reduced its stake, eventually selling its remaining 21% holding to Zhonghong Zhuoye in 2017. More recently, Hill Path Capital LP has become a dominant force, significantly influencing the company's trajectory. Understanding who owns United Parks & Resorts is crucial for grasping its strategic decisions and future growth prospects. This evolution highlights the dynamic nature of corporate ownership in the entertainment sector, with private equity and specialized investment firms playing pivotal roles.

Key Shareholders of United Parks & Resorts

As of April 2025, Hill Path Capital LP stands as the largest individual shareholder in United Parks & Resorts. Their substantial stake significantly impacts the company's strategic direction.

• Hill Path Capital LP: Owns approximately 27.33 million shares, representing about 49.71% of outstanding stock.
• The Vanguard Group Inc.: A major institutional investor.
• BlackRock, Inc.: Another significant institutional shareholder.
• Simcoe Capital Management LLC: Holds a notable position among institutional investors.
• State Street Corp.: A key institutional stakeholder.

These major institutional shareholders collectively hold approximately 123.96% of the company's shares, a figure that can exceed 100% due to various reporting methodologies and short positions. This concentration of ownership underscores the influence these entities wield over the company's governance and operational strategies. For a deeper understanding of how the company generates revenue and operates, explore the Revenue Streams & Business Model of United Parks & Resorts.

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The current Board of Directors for United Parks & Resorts Inc. comprises ten members, elected at the 2024 Annual Meeting of Stockholders on June 13, 2024, to serve until the 2025 Annual Meeting. Scott Ross holds the position of Independent Non-Executive Chairman.

United Parks & Resorts operates with a one-share-one-vote structure for its common stock. This means each share held as of a specific record date, such as August 11, 2025, grants one vote. However, Hill Path Capital LP's significant ownership, nearing 50%, provides it with considerable voting power and influence over company decisions. This concentration of control was evident when shareholders approved a $500 million share repurchase program in March 2024, which included a stipulation to prevent Hill Path Capital's ownership from exceeding 50%. A proxy statement from August 2025 also noted that Hill Path's shares are excluded from 'Disinterested Stockholder Approval' calculations for certain votes, a measure intended to protect minority shareholder interests, though it acknowledges the inherent risks of such concentrated control. Understanding the Competitors Landscape of United Parks & Resorts can provide further context on market dynamics affecting ownership structures.

Understanding Voting Power

The voting power within United Parks & Resorts is largely influenced by major shareholders. This structure impacts corporate governance and strategic decisions.

• One-share-one-vote principle for common stock.
• Hill Path Capital LP holds nearly 50% ownership.
• Share repurchase programs are subject to ownership limits.
• Measures exist to safeguard minority shareholder interests.

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United Parks & Resorts Inc. has undergone significant strategic and structural changes in recent years, notably its rebranding from SeaWorld Entertainment, Inc. in February 2024. These developments highlight a focused effort on evolving its market position and enhancing shareholder value.

The company's ownership structure is characterized by substantial institutional interest, with institutional ownership recorded at 123.96% as of April 2025. This broad market participation is significantly influenced by the dominant stake held by Hill Path Capital LP, a key stakeholder driving the company's strategic direction. This trend of concentrated ownership by activist investors, combined with a robust share repurchase program, underscores a strategic emphasis on maximizing shareholder returns and navigating the competitive landscape. The company's commitment to this strategy is further evidenced by the overwhelming stockholder approval of new share repurchase authorizations, demonstrating confidence in its future performance and Growth Strategy of United Parks & Resorts.

Shareholder Capital Return

United Parks & Resorts has actively returned capital to shareholders through significant share repurchases. Over 32 million shares, representing approximately 38% of outstanding shares, were retired between February 2019 and early 2025.

Dominant Stakeholder Influence

Hill Path Capital LP holds a dominant stake, significantly influencing the company's strategic decisions. This concentrated ownership by an activist investor signals a strong focus on operational efficiency and shareholder value.

Strategic Repositioning

The rebranding to United Parks & Resorts Inc. in February 2024 signifies a broader strategic vision. This change reflects an adaptation to market dynamics and a renewed focus on its portfolio of attractions.

Executive Team Enhancements

Key leadership appointments, including a new CFO in November 2024 and a Chief Accounting Officer in August 2025, bolster the company's financial and operational management.

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