Lelantos Holdings Reports 21% Month-Over-Month Increase in San Antonio Party Activity

Airtopia parks saw strong September growth in party bookings and memberships.

What the company is saying

Lelantos Holdings, Inc., parent of Airtopia Adventure Parks, reports preliminary, unaudited September 2026 operating results, emphasizing sharp increases in party bookings and new memberships at specific parks. The company highlights a 21% month-over-month rise in party bookings at San Antonio, attributing this to birthday parties and celebrations as key engagement drivers. At Owasso, management points to a 58% increase in new membership activations as evidence of growing customer commitment. CEO Felix Waller frames these gains as validation of a strategy focused on guest experience, repeat visitation, and leveraging special events and memberships to drive retention. The announcement underscores the recent opening of two new parks, McAlester and Tahlequah, in 2026, bringing the portfolio to five locations. Management reiterates its operating priorities: strengthening party sales, improving membership retention, and building guest relationships. The tone is upbeat, with claims that recent results are encouraging and that operational lessons will be shared across the portfolio.

What the data suggests

San Antonio recorded 216 party bookings with ticket check-ins in September 2026, up from 178 in August, a 21% increase. This 38-booking jump is presented as evidence of successful event-driven engagement. Owasso's new membership activations rose from 62 in August to 98 in September, a 58% increase, suggesting effective local marketing or improved customer appeal. San Antonio also saw year-over-year growth in ticket check-ins, from 12,935 in September 2025 to 13,692 in September 2026, a 6% rise. The company now operates five parks, with McAlester and Tahlequah both opening in 2026. All figures are preliminary and unaudited, and only select locations are detailed, with no consolidated revenue or profitability metrics disclosed. The data shows clear operational momentum at highlighted parks, but the absence of broader financials or portfolio-wide metrics limits the ability to assess overall business performance or sustainability.

Analysis

The announcement presents a positive tone, highlighting recent operational growth in party bookings, ticket check-ins, and membership activations at specific parks. These realised metrics are supported by clear, period-over-period comparisons, indicating immediate operational improvement. However, the narrative inflates the signal by attributing broader strategic significance to these gains (e.g., emphasizing guest engagement and repeat visitation) without providing evidence that these initiatives are driving sustainable, portfolio-wide growth. The claims about building guest relationships and applying lessons across parks are forward-looking and aspirational, lacking measurable progress or supporting data. No profitability, revenue, or cash flow figures are disclosed, so the sustainability and financial impact of the growth cannot be assessed. The opening of two new parks is mentioned, but there is no indication of a large capital outlay or delayed benefit realisation, so capital intensity is not flagged.

Risk flags

• ●The results are preliminary and unaudited, which introduces the risk that final audited figures could differ from those reported. Investors should be cautious about relying on these numbers for long-term trend analysis until audited results are available.
• ●The announcement focuses on operational metrics from select parks, omitting consolidated financials such as revenue, cash flow, or profitability. This selective disclosure makes it difficult to assess whether the reported growth translates into meaningful financial improvement for the overall business.
• ●Recent expansion with two new parks (McAlester and Tahlequah) in 2026 increases operational complexity and could strain management resources or dilute performance if new locations underperform. The announcement does not provide data on the performance of these new parks.

Bottom line

Lelantos Holdings reports strong September growth in party bookings at San Antonio (up 21% month-over-month) and new memberships at Owasso (up 58%), with San Antonio also showing a 6% year-over-year increase in ticket check-ins. These operational gains suggest effective local engagement and support management's focus on events and memberships as drivers of repeat visitation. However, the update is limited to select metrics from specific parks and does not include consolidated financials, audited results, or performance data for all five locations. The recent addition of two new parks expands the footprint but also raises execution risks. Investors should view the reported growth as a positive operational signal, but the lack of broader financial context means the full business impact remains unclear. The most important takeaway is that while local momentum is evident, comprehensive financial disclosures will be needed to confirm whether this translates into sustainable, portfolio-wide value.

Announcement summary

(OTCID: LNTO) Lelantos Holdings, Inc., parent company of Airtopia Adventure Parks, reported selected preliminary, unaudited operating results for September 2026. San Antonio recorded 216 party bookings with ticket check-ins during September, compared with 178 in August 2026, representing an increase of approximately 21%. The increase of 38 bookings highlights birthday parties and celebrations as an important source of guest engagement at the park. At Owasso, new membership activations increased to 98 in September from 62 in August 2026, an increase of approximately 58%. San Antonio also recorded 13,692 ticket check-ins during September, compared with 12,935 in September 2025, an increase of approximately 6%. Felix Waller, Chief Executive Officer of Lelantos Holdings, stated that growing Airtopia is not only about adding locations but also about giving families a reason to return to existing parks. He emphasized that birthday parties and memberships are key opportunities to engage guests and encourage repeat visits. September's increases at San Antonio and Owasso were described as encouraging by management. Airtopia's five operating parks serve McAlester, Tahlequah, Hemet, San Antonio, and Owasso. The McAlester and Tahlequah parks opened in 2026, expanding the company's operating footprint. Management's operating priorities remain strengthening party sales, encouraging repeat visitation, and improving membership retention. The company is focused on building guest relationships within each market and applying lessons learned from individual parks to create a more consistent guest experience across the portfolio.

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