Alternate realities
VP of Communications and Strategic Alliances at Triotech, Christian Martin, tells Park World about what he does and shares his thoughts on what’s happening in the world of media-based attractions and the wider industry
Christian Martin
Park World: Tell us about your role. Christian Martin: IAs Triotech’s VP of Communications and Strategic Alliances, my role is to integrate the two entities into one global player. Before the pandemic we made our first acquisition of a company in France called the L Corporation. Pre- pandemic, there was consolidation in the industry, and post-pandemic we’re seeing even more consolidation between suppliers. We’re also seeing
that consolidation currently with the operators making offers for Cedar Fair and buying other companies. The pandemic was tough for our industry, from the operators and parks running the FECs, right through to the suppliers. Consolidation makes sense and that’s a main part of my role. We bought our first company in France and we’re now looking to buy more.
PW: The pandemic seems to have been a driver for acquisitions and integrations. I’m surprised we haven’t seen more; do you think that’s going to accelerate? CM: I agree, I’m a little bit surprised. There are two types of acquisitions; the ones that are part of a strategic plan and the ones that are targets of opportunity. Targets of opportunity can appear out of nowhere but there may be synergy and it links to the business’ succession plan, so it makes sense. There are many entrepreneurs in our industry and some of them are getting to a certain age where they are unsure of what to do next. It makes more sense to sell the company to someone that can make it grow as opposed to completely shutting the business down.
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PW: What is Triotech’s core business? CM: We make media-based attractions and this includes giant projector screens, VR or smaller screens on arcade games. From arcade games to immersive theatres to dark coasters, we do just about everything that’s media- based. Triotech is in a unique position because we’re integrated, meaning we do the hardware, software and the media content. A lot of companies might only make the film or the seat, for example. Our value proposition is that we deliver everything.
PW: Were you able to continue with R&D during the pandemic? CM: That’s an interesting question, we actually doubled down on R&D. During the pandemic, when it was necessary to make cuts, we looked at what would happen to talent if we sent them home for three to six months. They would leave our industry to go to the video game industry, for example. We decided that wasn’t acceptable and so we started developing new products and technology. We developed a product called Hyper Ride which is a dark ride. It won Best New Product at IAAPA Orlando in November 2021, and this was 100% created during the pandemic. Triotech has always been in a good financial position, so when the industry slowed down, we were able to continue our operations and keep our staff on. Another interesting thing about our company is we sell products to FECs and
they go for between $25,000 and $200,000. We also do big projects like custom- made interactive dark rides which go for $5,000,000. When the pandemic hit, all the FEC businesses instantly dried up and cancelled their orders. Because no one knew how long the pandemic would go on for, the project business, for instance LEGOLAND’s NINJAGO, kept going. This didn’t pose an issue for us but for companies who only sold to FECs and arcades, this was a huge problem.
PW: Now that we’re beginning to witness global recovery, are you seeing changes in the way you’re interacting with customers?
OCTOBER 2022
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