Notizie in diretta • May 21
United Parks & Resorts Faces Lower Attendance and Earnings But Highlights Record Guest Spending Q1 2026 attendance fell 5% to about 3.22 million visitors, with management citing poor weather in San Diego and Florida and softer international tourism.
Total Q1 revenue declined 3% to US$278.3 million, with adjusted EBITDA down 14.1% to US$58.0 million and the company reporting a net loss of US$34.1 million, or a loss of US$0.69 per share that missed earnings expectations by US$0.35.
In-park per capita spending reached a record level with growth of more than 5%, paid season pass sales were up roughly 10%, and the company bought back about 4.4 million shares for US$157.5 million through early May, while outlining new attractions and continued investment in technology and marketing for 2026.
The mix of weaker attendance and lower earnings alongside stronger per-capita spending and season pass momentum points to a business that is currently pressured by external factors rather than only by demand within its core customer base.
Heavy share repurchases, ongoing cost pressures and analyst concerns about shareholder concentration leave investors weighing capital return and potential operational upside against governance and execution risks. Annuncio • May 04
United Parks & Resorts Inc., Annual General Meeting, Jun 16, 2026 United Parks & Resorts Inc., Annual General Meeting, Jun 16, 2026. Annuncio • Apr 21
United Parks & Resorts Inc. to Report Q1, 2026 Results on May 11, 2026 United Parks & Resorts Inc. announced that they will report Q1, 2026 results Pre-Market on May 11, 2026 Annuncio • Mar 04
United Parks & Resorts Inc. announced delayed annual 10-K filing On 03/03/2026, United Parks & Resorts Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Reported Earnings • Feb 27
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: US$3.09 (down from US$3.82 in FY 2024). Revenue: US$1.66b (down 3.6% from FY 2024). Net income: US$168.4m (down 26% from FY 2024). Profit margin: 10% (down from 13% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.5%. Revenue is forecast to grow 2.6% p.a. on average during the next 2 years, compared to a 9.2% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 18% per year, which means it is performing significantly worse than earnings. Annuncio • Jan 23
United Parks & Resorts Inc. to Report Q4, 2025 Results on Feb 26, 2026 United Parks & Resorts Inc. announced that they will report Q4, 2025 results at 9:30 AM, US Eastern Standard Time on Feb 26, 2026 Annuncio • Jan 07
United Parks & Resorts Inc. Announces Transition of Byron Surrett from Chief Park Operations Officer Non-Florida Parks to Another Role, Effective January 1, 2026 United Parks & Resorts Inc. announced that as of January 1, 2026, Byron Surrett transitioned from the role of Chief Park Operations Officer Non-Florida Parks to another role at United Parks & Resorts Inc. Recent Insider Transactions • Dec 19
Chief Commercial Officer recently sold US$253k worth of stock On the 15th of December, Christopher Finazzo sold around 7k shares on-market at roughly US$35.12 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$814k more than they bought in the last 12 months. Major Estimate Revision • Nov 14
Consensus EPS estimates fall by 21% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from US$1.71b to US$1.67b. EPS estimate also fell from US$4.12 per share to US$3.27 per share. Net income forecast to grow 14% next year vs 28% growth forecast for Hospitality industry in the US. Consensus price target down from US$57.55 to US$47.18. Share price fell 5.7% to US$33.13 over the past week. Price Target Changed • Nov 07
Price target decreased by 8.5% to US$52.64 Down from US$57.55, the current price target is an average from 11 analysts. New target price is 43% above last closing price of US$36.81. Stock is down 35% over the past year. The company is forecast to post earnings per share of US$3.80 for next year compared to US$3.82 last year. Reported Earnings • Nov 06
Second quarter 2025 earnings released: EPS: US$1.46 (vs US$1.47 in 2Q 2024) Second quarter 2025 results: EPS: US$1.46 (down from US$1.47 in 2Q 2024). Revenue: US$490.2m (down 1.5% from 2Q 2024). Net income: US$80.1m (down 12% from 2Q 2024). Profit margin: 16% (down from 18% in 2Q 2024). Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 14% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Nov 06
Investor sentiment deteriorates as stock falls 26% After last week's 26% share price decline to US$35.14, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 16x in the Hospitality industry in the US. Total loss to shareholders of 37% over the past three years. Annuncio • Oct 02
United Parks & Resorts Inc. to Report Q3, 2025 Results on Nov 06, 2025 United Parks & Resorts Inc. announced that they will report Q3, 2025 results Pre-Market on Nov 06, 2025 Recent Insider Transactions Derivative • Sep 16
Chief Legal Officer notifies of intention to sell stock George Taylor intends to sell 26k shares in the next 90 days after lodging an Intent To Sell Form on the 15th of September. If the sale is conducted around the recent share price of US$51.39, it would amount to US$1.4m. Since June 2025, George has owned 85.63k shares directly. Company insiders have collectively bought US$546k more than they sold, via options and on-market transactions, in the last 12 months. Annuncio • Aug 21
United Parks & Resorts Inc. Announces Executive Changes On August 13, 2025, United Parks & Resorts Inc. (the “ Company ”) appointed Kevin Connelly as Chief Accounting Officer of the Company, effective as of August 18, 2025 (the “ Effective Date ”). On August 13, 2025, the Company and William Myers, the Company’s then current Chief Accounting Officer, agreed that Mr. Myers would step down from that position as of August 13, 2025. Following August 13, 2025, Mr. Myers will remain employed by the Company through August 31, 2025 to ensure a smooth transition. Prior to becoming the Company’s Chief Accounting Officer, Mr. Connelly, age 55, served as the Chief Financial Officer, Chief Operating Officer, and Senior Managing Director of Appreciation Homes, LLC, a real estate securities company, from June 2019 to January 2025. From September 2018 to May 2019, he was President of Capview Partners, LLC /EBA EverStar, LLC, a real estate investment and management firm formed through a Fortune Global 500 company’s acquisition of Capview Partners, LLC, where he had served as Chief Financial Officer and Managing Director since April 2014. Mr. Connelly previously held senior finance and accounting positions with DSM Nutritional Products Ltd, Martek Biosciences Corp, Aether Systems Inc., Storage USA Inc., and Integrated Health Services Inc., after starting his career at KPMG. Mr. Connelly holds a Bachelor of Business Administration in accounting from James Madison University and is a Certified Public Accountant in the State of Maryland. Reported Earnings • Aug 08
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: US$1.46 (down from US$1.47 in 2Q 2024). Revenue: US$490.2m (down 1.5% from 2Q 2024). Net income: US$80.1m (down 12% from 2Q 2024). Profit margin: 16% (down from 18% in 2Q 2024). Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) also missed analyst estimates by 19%. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 4% per year. Buy Or Sell Opportunity • Aug 08
Now 21% undervalued Over the last 90 days, the stock has risen 3.1% to US$48.64. The fair value is estimated to be US$61.55, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 4.4% in 2 years. Earnings are forecast to grow by 24% in the next 2 years. Annuncio • Aug 07
United Parks & Resorts Inc. (NYSE:PRKS) announces an Equity Buyback for $500 million worth of its shares. United Parks & Resorts Inc. (NYSE:PRKS) announces a share repurchase program. Under the program, the company will repurchase up to $500 million worth of its shares. The program is subject to approval by non-Hill Path shareholders. Annuncio • Jul 15
United Parks & Resorts Inc. to Report Q2, 2025 Results on Aug 07, 2025 United Parks & Resorts Inc. announced that they will report Q2, 2025 results Pre-Market on Aug 07, 2025 Recent Insider Transactions • Jun 13
Chief Commercial Officer recently sold US$414k worth of stock On the 10th of June, Christopher Finazzo sold around 10k shares on-market at roughly US$43.18 per share. This transaction amounted to 17% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$626k more than they bought in the last 12 months. Reported Earnings • May 13
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: US$0.29 loss per share (further deteriorated from US$0.17 loss in 1Q 2024). Revenue: US$286.9m (down 3.5% from 1Q 2024). Net loss: US$16.1m (loss widened 44% from 1Q 2024). Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) also missed analyst estimates by 27%. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 5% per year. Price Target Changed • Apr 14
Price target decreased by 7.1% to US$57.92 Down from US$62.36, the current price target is an average from 12 analysts. New target price is 36% above last closing price of US$42.68. Stock is down 19% over the past year. The company is forecast to post earnings per share of US$4.55 for next year compared to US$3.82 last year. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to US$38.51, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 18x in the Hospitality industry in the US. Total loss to shareholders of 43% over the past three years. Recent Insider Transactions • Mar 12
Insider recently sold US$343k worth of stock On the 10th of March, Byron Surrett sold around 7k shares on-market at roughly US$48.90 per share. This transaction amounted to 39% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$723k. Insiders have been net sellers, collectively disposing of US$2.2m more than they bought in the last 12 months. Recent Insider Transactions Derivative • Mar 09
Insider notifies of intention to sell stock Byron Surrett intends to sell 7k shares in the next 90 days after lodging an Intent To Sell Form on the 7th of March. If the sale is conducted around the recent share price of US$48.90, it would amount to US$343k. Since March 2024, Byron's direct individual holding has increased from 15.31k shares to 18.06k. Company insiders have collectively sold US$2.0m more than they bought, via options and on-market transactions in the last 12 months. New Risk • Feb 26
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.8x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.8x net interest cover). Minor Risk Significant insider selling over the past 3 months (US$723k sold). Reported Earnings • Feb 26
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: US$3.82. Revenue: US$1.73b (flat on FY 2023). Net income: US$227.5m (down 2.9% from FY 2023). Profit margin: 13% (in line with FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.4%. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Hospitality industry in the US. New Risk • Feb 18
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: US$723k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Minor Risks Negative equity (-US$456m). Significant insider selling over the past 3 months (US$723k sold). Annuncio • Feb 05
United Parks & Resorts Inc. to Report Q4, 2024 Results on Feb 26, 2025 United Parks & Resorts Inc. announced that they will report Q4, 2024 results Pre-Market on Feb 26, 2025 Recent Insider Transactions • Dec 18
Insider recently sold US$723k worth of stock On the 13th of December, Christopher Finazzo sold around 13k shares on-market at roughly US$55.62 per share. This transaction amounted to 26% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$1.9m more than they bought in the last 12 months. Recent Insider Transactions • Nov 26
CFO & Treasurer recently bought US$1.9m worth of stock On the 18th of November, James Mikolaichik bought around 34k shares on-market at roughly US$57.29 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. This was James' only on-market trade for the last 12 months. Reported Earnings • Nov 08
Third quarter 2024 earnings: EPS misses analyst expectations Third quarter 2024 results: EPS: US$2.09. Revenue: US$545.9m (flat on 3Q 2023). Net income: US$119.7m (down 3.1% from 3Q 2023). Profit margin: 22% (in line with 3Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.5%. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 9.6% growth forecast for the Hospitality industry in the US. Annuncio • Oct 10
United Parks & Resorts Inc. to Report Q3, 2024 Results on Nov 07, 2024 United Parks & Resorts Inc. announced that they will report Q3, 2024 results Pre-Market on Nov 07, 2024 Annuncio • Sep 18
United Parks & Resorts Inc Appoints Bill Myers as Chief Accounting Officer On September 18, 2024, United Parks & Resorts Inc. announced the appointment of Bill Myers as the Company’s Chief Accounting Officer, effective as of September 18, 2024 (the “Effective Date”). Prior to becoming the Company’s Chief Accounting Officer, Mr. Myers, 57, served as the Chief Financial Officer of MobilityWorks, from August 2020 to February 2024 where he lead the accounting and finance functions which included, information technology, legal, real estate, treasury, financial planning and analysis, and mergers and acquisitions. Prior to that, Mr. Myers served as the Executive Vice President, Chief Financial Officer and Treasurer of TravelCenters of America Inc., from 2018 to 2020, and as the Senior Vice President and Chief Accounting Officer from 2014 to 2017. Prior to TravelCenters of America Inc., Mr. Myers served as the Vice President Technical Accounting and Reporting of Eaton Corporation, a global power management company, from 2010 to 2014; the Director of Financial Reporting for Whirlpool Corporation, a global manufacturer of home appliances, from 2007 to 2010; the General Manager – Financial Reporting of Delta Air Lines Inc., a U.S. based airline, from 2005 to 2007; and Senior Manager or Manager for several registered public accounting firms (KPMG, LLP, Cherry Bekaert & Holland, LLP) from 2000 to 2005. Mr. Myers holds a Masters in Business Administration from the College of William and Mary, a bachelor’s degree in business administration from Northwood University, and is a certified public accountant. Recent Insider Transactions Derivative • Sep 05
Independent Director notifies of intention to sell stock Yoshikazu Maruyama intends to sell 13k shares in the next 90 days after lodging an Intent To Sell Form on the 3rd of September. If the sale is conducted around the recent share price of US$50.07, it would amount to US$650k. Since September 2023, Yoshikazu's direct individual holding has decreased from 15.00k shares to 13.98k. Company insiders have collectively sold US$2.0m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Aug 14
Co-Chief Parks Operation Officer notifies of intention to sell stock Kyle Miller intends to sell 22k shares in the next 90 days after lodging an Intent To Sell Form on the 12th of August. If the sale is conducted around the recent share price of US$47.04, it would amount to US$1.0m. Since December 2023, Kyle's direct individual holding has increased from 25.71k shares to 35.74k. Company insiders have collectively sold US$3.7m more than they bought, via options and on-market transactions in the last 12 months. Price Target Changed • Aug 09
Price target decreased by 8.0% to US$62.00 Down from US$67.36, the current price target is an average from 11 analysts. New target price is 31% above last closing price of US$47.34. Stock is down 8.0% over the past year. The company is forecast to post earnings per share of US$4.37 for next year compared to US$3.66 last year. Reported Earnings • Aug 08
Second quarter 2024 earnings: EPS misses analyst expectations Second quarter 2024 results: EPS: US$1.47 (up from US$1.36 in 2Q 2023). Revenue: US$497.6m (flat on 2Q 2023). Net income: US$91.1m (up 4.7% from 2Q 2023). Profit margin: 18% (in line with 2Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.7%. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 9.6% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 02
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to US$47.10, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 15x in the Hospitality industry in the US. Total loss to shareholders of 10% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$53.72 per share. Annuncio • Jul 30
United Parks & Resorts Inc. Provides Preliminary Earnings Guidance for the Second Quarter, Six Months and Year to Date Ended June 30, 2024 United Parks & Resorts Inc. provided preliminary earnings guidance for the second quarter, six months and year to date ended June 30, 2024. For the quarter, the company expects total revenues to be approximately $495 million - $500 million, compared to $496.0 million in second quarter of 2023. Net income is expected to be approximately $87 million - $95 million, compared to $87.1 million in second quarter of 2023.
For the six months, the company expects net income to be approximately $76 million - $84 million.
For the year to date, the company expects net income to be approximately $240 million - $248 million. Recent Insider Transactions • Jun 10
Chief Zoological Officer recently sold US$1.4m worth of stock On the 6th of June, Christopher Dold sold around 28k shares on-market at roughly US$51.54 per share. This transaction amounted to 47% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$4.3m more than they bought in the last 12 months. Annuncio • May 25
United Parks & Resorts Inc. Announces Executive Changes Kyle Miller, Co-Chief Parks Operations Officer for United Parks & Resorts Inc. will be taking a leave for personal medical reasons effective June 1, 2024. On May 17, 2024, Shekufeh Shirazi Boyle, Chief Accounting Officer of the Company, notified the Company of her decision to resign from her position with the Company in order to pursue another opportunity. Ms. Boyle has entered into a consulting arrangement with the Company to assist the Company to ensure a smooth transition. Jim Forrester, the Company’s Interim Chief Financial Officer and Treasurer, will serve as the Company’s principal accounting officer effective May 30, 2024. The appointment of Mr. Forrester to serve as the principal accounting officer was not pursuant to any arrangement or understanding with respect to any other person. There are no family relationships between Mr. Forrester and any director or executive officer of the Company, and there are no transactions between Mr. Forrester and the Company that would be required to be reported under Item 404(a) of Regulation S-K. Reported Earnings • May 09
First quarter 2024 earnings: EPS and revenues exceed analyst expectations First quarter 2024 results: US$0.17 loss per share (improved from US$0.26 loss in 1Q 2023). Revenue: US$297.4m (up 1.4% from 1Q 2023). Net loss: US$11.2m (loss narrowed 32% from 1Q 2023). Revenue exceeded analyst estimates by 4.5%. Earnings per share (EPS) also surpassed analyst estimates by 40%. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • May 01
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at US$48.93. The fair value is estimated to be US$61.76, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 31% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 2.9% per annum. Earnings are also forecast to grow by 10% per annum over the same time period. Annuncio • May 01
United Parks & Resorts Inc., Annual General Meeting, Jun 13, 2024 United Parks & Resorts Inc., Annual General Meeting, Jun 13, 2024, at 11:00 Eastern Daylight. Agenda: To elect the ten director nominees listed herein; to ratify the appointment of KPMG LLP as independent registered public accounting firm for 2024; to approve, in a non-binding advisory vote, the compensation paid to the named executive officer; and to consider such other business as may properly come before the Annual Meeting and any adjournments or postponements thereof. Annuncio • Apr 20
United Parks & Resorts Inc. to Report Q1, 2024 Results on May 08, 2024 United Parks & Resorts Inc. announced that they will report Q1, 2024 results Pre-Market on May 08, 2024 Annuncio • Mar 28
United Parks & Resorts Inc. (NYSE:PRKS) announces an Equity Buyback for $500 million worth of its shares. United Parks & Resorts Inc. (NYSE:PRKS) announces a share repurchase program. Under the program, the company will repurchase up to $500 million worth of its shares. The program is subject to the qualification that the company will not repurchase additional shares if Hill Path's common stock ownership interest percentage would, because of any such repurchase, equal or exceed 50%. The program has no time limit. Reported Earnings • Feb 29
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: US$3.66 (down from US$4.18 in FY 2022). Revenue: US$1.73b (flat on FY 2022). Net income: US$234.2m (down 20% from FY 2022). Profit margin: 14% (down from 17% in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.8%. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 9.5% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Feb 28
Now 29% overvalued after recent price rise Over the last 90 days, the stock has risen 8.3% to US$52.97. The fair value is estimated to be US$41.09, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 37% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 5.0% in 2 years. Earnings are forecast to grow by 25% in the next 2 years. Annuncio • Feb 09
SeaWorld Entertainment, Inc. to Report Q4, 2023 Results on Feb 28, 2024 SeaWorld Entertainment, Inc. announced that they will report Q4, 2023 results Pre-Market on Feb 28, 2024 Annuncio • Jan 09
SeaWorld Entertainment, Inc. Elects Nathaniel J. Lipman as Director SeaWorld Entertainment, Inc. announced its Board of Directors has elected Nathaniel J. Lipman to serve as a Director of the Company, effective January 2, 2024. Mr. Lipman served as Executive Chairman of CX Loyalty Holdings, Inc. from 2012 until November 2015, and as President and Chief Executive Officer from October 2005 (when CX Loyalty was formed through the purchase of assets from Cendant Corporation ("Cendant") by a coalition of investors) to 2012. Mr. Lipman continues to actively serve as Senior Advisor to CX Loyalty since 2015. Mr. Lipman joined Cendant in June 1999 as Senior Vice President, Corporate Development and Strategic Planning. After a series of increasing responsibilities in business development and marketing, Mr. Lipman served as President and Chief Executive Officer of Cendant's domestic membership business, Trilegiant, from 2002 to April 2004, and served as President and Chief Executive Officer of the Cendant Marketing Services Division from April 2004 to 2005. Prior to Cendant, Mr. Lipman held various legal and finance roles since 1989, including roles that involved significant experience in the travel and entertainment industry, including roles with Planet Hollywood, Inc., House of Blues Entertainment, Inc., and The Walt Disney Company, amongst others. He also has significant experience serving as a director of both public and private companies, including prior service on the boards of directors of FTD. com, Redbox Automated Holdings, LLC, and Diamond Resorts International, Inc., amongst other companies.