United Parks & Resorts, the parent company of SeaWorld and Busch Gardens, is exploring offers for excess land near its parks. CEO Marc Swanson announced on February 26, 2026, that the company owns about 2,000 acres across seven U.S. properties, with 400 acres undeveloped. This comes amid declining attendance and revenue, with a 1.8 percent drop to approximately 21.2 million visitors. The company is evaluating multiple sale-leaseback proposals and discussing hotel, timeshare, and residential development opportunities. United Parks reported total revenue of $1.7 billion, down 3.6 percent, with net income falling 26 percent to $168.4 million. However, per-capita spending increased by 1 percent, with a notable 2.1 percent rise in the fourth quarter.The Land PortfolioUnited Parks owns substantial acreage at each of its major properties, with the largest holdings at Busch Gardens Williamsburg in Virginia with 654 owned acres, followed by Orlando with 418 owned acres housing SeaWorld Orlando, Aquatica Orlando, and Discovery Cove, San Antonio with 415 owned acres for SeaWorld San Antonio and Aquatica San Antonio, Tampa with 362 owned acres for Busch Gardens Tampa Bay and Adventure Island, San Diego with 66 owned acres plus 190 leased acres for SeaWorld San Diego and Sesame Place San Diego, and Langhorne, Pennsylvania, with 55 owned acres for Sesame Place Philadelphia.Credit: Darren Tolley, UnsplashSwanson emphasized during the earnings call that the company estimates the replacement cost of its parks to be over $10 billion, or about 2.5 times United Parks’ current enterprise value, meaning the current enterprise value is less than half the replacement cost of the assets. He suggested that while the public markets may not be appropriately recognizing the value of these assets, other parties clearly are, as evidenced by the multiple proposals and active discussions currently underway.Multiple Monetization Options for Theme ParksUnited Parks’ quarterly earnings presentation highlighted various monetization strategies for excess land, including sale-leaseback options, hotel and timeshare development partnerships, and outright purchase offers. During the Q&A, an investor asked about weighing sale-leaseback opportunities against other development options. Swanson emphasized the company’s significant real estate opportunities for monetization through diverse avenues, such as retail, housing, and entertainment projects.News: Multiple buyers have made offers to purchase land owned by SeaWorld/Busch Gardens.Details: https://t.co/wFDbxxk8xY pic.twitter.com/JVRTr31jOS— Attractions Magazine (@Attractions) February 26, 2026Board Guidance and Decision-MakingSwanson noted that United Parks will work with its board of directors on determining the best path forward for land monetization. He pointed out that the company is more than 50 percent owned by a private equity firm and receives guidance and counsel from that firm and the rest of the board on how to use cash. Swanson expressed confidence that working together with the board, the company will reach the right conclusions on how best to monetize its assets.He stated the exciting thing is that people recognize the value of United Parks’ real estate holdings, even if that value isn’t fully appreciated by the public markets. The people that United Parks talks to or who talk to the board clearly see that value, which is what the company was trying to point out in slides included in the quarterly earnings presentation.Credit: Busch Gardens Tampa BaySeparate from Hotel Integration GoalsSwanson clarified that this initiative of selling excess land for potential hotel use is a separate effort from United Parks’ goals to integrate hotels into its portfolio, which the company reiterated on the February 26 call remains a priority. United Parks does not currently offer onsite hotels for theme park guests at any of its properties, a significant competitive disadvantage compared to Walt Disney World and Universal Orlando Resort, which both offer extensive onsite hotel options that keep guests on property for multiple days and generate additional revenue through lodging, dining, and extended park visits.This isn’t the first time Swanson has mentioned United Parks’ excess land and its potential. The CEO emphasized in previous earnings calls, as he did during the February 26 call, his feelings that the company’s control of these land parcels is not fully appreciated by the public markets. The February 26 call was, however, the most detailed Swanson has been thus far in mapping out what this land could potentially turn into through partnerships, sales, or development arrangements.The Broader Financial ContextUnited Parks is facing challenges with declining attendance and revenue, highlighted by a 1.8% drop to 21.2 million visitors and a 3.6% decrease in revenue to $1.7 billion. This trend comes amid increased competition from Universal Orlando’s Epic Universe and Disney’s significant park investments. Longtime visitors to SeaWorld Orlando have observed quieter walkways and changing entertainment as the park balances rising operational costs with guest expectations. The shift toward more thrill rides alongside conservation experiences has energized some guests, while others are concerned about the park’s evolving identity away from its traditional focus on animal encounters and conservation.New Attractions Coming in 2026 to Theme ParksDespite the financial pressures, United Parks continues investing in new attractions across its portfolio for 2026, including Barracuda Strike, a suspended roller coaster at SeaWorld San Antonio, Lion & Hyena Ridge, a new animal habitat at Busch Gardens Tampa Bay, Verbolten: Forbidden Turn, a reimagining of a favorite indoor and outdoor roller coaster at Busch Gardens Williamsburg, and SeaQuest: Legends of the Deep, a new indoor dark ride at SeaWorld Orlando.Credit: SeaWorldThese investments demonstrate that United Parks is attempting to drive future attendance and guest spending through continued attraction development even as it explores land monetization options that could provide additional capital for operations and future investments. Whether new attractions will be sufficient to reverse attendance declines amid competition from Epic Universe and other Central Florida developments remains uncertain.What Monetization Could Mean for the Theme ParksUnited Parks is exploring various land monetization options that could significantly impact guest experiences at its parks. Sale-leaseback arrangements would provide immediate capital while retaining operational control. Partnerships for hotels or residential developments could enhance onsite lodging and extend guest stays, generating more revenue. Conversely, selling excess land could offer capital but reduce future development flexibility.For visitors to SeaWorld Orlando and Busch Gardens Tampa Bay, these initiatives may lead to new hotels, shopping, and entertainment venues, potentially transforming the parks into comprehensive destination resorts similar to Walt Disney World and Universal Orlando.The post The Orlando Theme Parks That Could Be Sold to the Highest Bidder Soon appeared first on Inside the Magic.