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Delaware North Companies Business Update. Chuck Moran President & Chief Operating Officer. Overview. State of Delaware North Overarching Goals Reorganization Progress Operating Company Highlights Focus on Technology State of our Culinary & Hospitality at Delaware North.
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Delaware North Companies Business Update Chuck Moran President & Chief Operating Officer
Overview • State of Delaware North • Overarching Goals • Reorganization Progress • Operating Company Highlights • Focus on Technology • State of our Culinary & Hospitality at Delaware North
State of Delaware North • One of the most admired family owned companies in the world – we turn 100 years old in 2015. • Strong financial results despite the challenges. • Revenue of more than $2.6 billion. • Reinvesting in the business – nearly $200 million in 2012. • Developing 3 year strategic plan to continue to propel the business ahead. • Growing – new contracts and markets. • Green Bay, Seattle • Singapore
Financial Highlights • Business fundamentals continue to be strong. • Delaware North’s performance through October was ahead of plan and prior year. • The company was able to prepay its TD Garden note obligation. • Delaware North has a new $100 million Senior Note agreement. • Currently developing financial metrics for 2014 financial planning. • Large investment in technology
Reorganization • One company mindset. • Important to share and develop leadership and talent. • Will cascade throughout the organization. • In order to grow – we need to figure out ways to leverage our expertise.
Key Changes • John Wentzell as President, Sportservice/Europe. • Rick Abramson as President, Parks & Resorts, Australia and Asia. • Jim Houser, Chief Operating Officer • Amy Latimer as President, Delaware North Boston and TD Garden. • Kevin Kelly as VP Shared Services. • New President of Gaming & Entertainment – Brian Hansberry. • New General Counsel – Rajat Shah.
Other Key Priorities • High performance team model adoption. • New global headquarters in 2015. • Succession planning continues to be important. • Health care and the new legislation and requirements and the impact on the company. • Focus on growth – including acquisitions and organic growth.
Sportservice • Ahead of plan and prior year – primarily due to strong baseball results. Including Detroit Tigers and St. Louis Cardinals in the semifinals and the World Series. • Lost Soldier Field food service contract – still have retail. Unsuccessful in several bids – but indicative of cyclical nature of business. • New venues – Seattle’s CenturyLink Field & Seattle Sounders FC. • All-Star MLS in Kansas City. • 2014 Super Bowl at MetLife Stadium. • NHL Winter Classic at Michigan Stadium.
Gaming & Entertainment • Ahead of plan and prior year. • Wheeling continues to see the impact of border states offering gaming. • Expansion of Finger Lakes completed in October. • Opening of Miami Valley Gaming & Raceway in Lebanon, Ohio in mid-December. • Southland expansion. • Several new business opportunities including a gaming opportunity in Canada.
Travel Hospitality Services • Ahead of plan and ahead of prior year. • Hartsfield-Jackson Atlanta International Airport very successful. • Working on extensions in Ft. Lauderdale and Houston. • New concepts continue to open in Los Angeles. • Potential new business in Chicago, Tampa and Charleston.
Boston • Ahead of plan and prior year due to the Bruins Stanley Cup final matchup with the Chicago Blackhawks. • New garage acquisition continues to perform well. • Garden underwent several improvements during the summer. • Development of the old Boston Garden site progressing. • 90th Anniversary of the Bruins.
Parks & Resorts • Ahead of plan and ahead of prior year. • Massive wild fire in Yosemite and recent government shutdown had a huge impact for our national parks. • Yosemite – NPS allowed us to replace the 91 hard sided tent cabins with traditional tent cabins. • New operations at Kings Canyon, Shenandoah National Park, Kalaloch Lodge in Olympic National Park and Peaks of Otter Lodge – are performing well. • New luxury cabins in West Yellowstone recently opened to rave reviews. • New suites at Tenaya Lodge. • Space Shuttle Atlantis℠ opened at Kennedy Space Center.
Space Shuttle Atlantis℠ • $100 million - 90,000 sq. ft. home of the Space Shuttle Atlantis℠. • Global media coverage. • More than 50 astronauts attended the opening – all applauded when they went through the exhibit for the first time.
Australia • Ahead of plan but even with prior year. • New contract to operate the Western Australia Cricket Association Ground and Patersons Stadium. • Melbourne Park contract extension. • Resorts continue to be a challenge but new marketing efforts and a focus on amenities should help produce stronger results. • Continue to look for additional opportunities in sports and airports.
United Kingdom • Behind plan and prior year. • Search for a new Managing Director. • Strong sports and concert event line up at Wembley. • Two NFL games at Wembley in 2013. • Continue to seek opportunities for growth in UK and Europe.
Asia • New contract for the Singapore Sports Hub. • Joint venture with SATS. • 55,000 seat National Stadium – one of the most significant sports venue projects in the world. • Very significant project for the company marking our re-entry into Asia. • Grand opening in April 2014.
Focus on Technology • Delaware North Companies has invested tens of millions of dollars in the last few years on new technology to move the company forward. • In 2014-2015 – this investment will continue to be significant – additional tens of millions. • Technology advances include: • PeopleManager and HR systems • Finance systems • Moving in-house systems to the cloud – Halo as an example • Back-and-front of the house systems – Birchstreet • New customer-facing technology including mobile ordering and line-busting technology • Mobile apps and other marketing technology
Technology Mandate • Systems are a large investment for the company. • The systems are only as good as the people who use them. • New technology means embracing change and a commitment to learning and training. • In order to make the investment worthwhile – it must be the perfect storm of platforms, people and process.
State of Culinary & Hospitality @ DNC • Training and development. • New Front-of-House professional certification opportunities • Educate and develop our culinary and hospitality associates • Food safety • Expanding program • It only takes one issue! • Innovation • Capitalize on opportunities • Identify, Share, Implement, Measure • New Technology • Implement Birchstreet back-of- house system • Procurement • Inventory • Recipe Management.
