NEWS
Cedar Fair looks ahead with optimism after 2018 results
POSTED 21 Feb 2019 . BY Andy Knaggs
We are seeing strong sales activity in our advance purchase channels across all categories and all parks
– Richard A Zimmerman
Cedar Fair has reported positive Q4 and full 2018 figures, along with a new long-term growth target.

Full-year net revenues were up 2 per cent from 2017, reaching US$1.35bn (€1.2bn, £1.05bn). Attendance was also up, at a record 25.9m guests, which is a 1 per cent increase on 2017. Average in-park guest per capita spending increased by 1 per cent also, to US$47.69 (€42.29, £37.16).

The company reported that its Halloween and WinterFest events performed well, contributing to a 9 per cent increase in net revenues in Q4 2018, compared to the same quarter in 2017. Advance purchase commitments for 2019 are reported as up by more than 25% on the same time last year, driven, it said, by “expanded season pass offerings, a strong capital programme and immersive new events scheduled to debut in 2019”.

If it attains its new 2023 Adjusted EBITDA target of US$575m (€509m, £448m), Cedar Fair will have achieved a compound annual growth rate of 4 per cent over the next five years.

Richard A Zimmerman, president and chief executive officer for the company, commented: "We ended the year strongly, achieving new highs in attendance and net revenues for both the fourth quarter and full year. Guests of all ages continue to delight in our immersive entertainment offerings, including our Halloween Haunt and WinterFest celebrations. The success and expansion of these events has created momentum heading into 2019 as we are seeing strong sales activity in our advance purchase channels across all categories and all parks."

Zimmerman added that the strategy going forward was to "broaden the guest experience through immersive new entertainment offerings", expand Cedar Fair’s season pass platform into a long-term, relationship-based programme to increase lifetime value, increase market penetration within certain audience segments, and pursue "value-enhancing development opportunities adjacent to our parks".
California's Great American in Santa Clara is one of Cedar Fair's 13 parks Credit: Shutterstock
 


ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2019

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS
 
Leisure Management - Cedar Fair looks ahead with optimism after 2018 results...
24 May 2019 Leisure Management: daily news and jobs
 
 
HOME
JOBS
NEWS
FEATURES
PRODUCTS
FREE DIGITAL SUBSCRIPTION
PRINT SUBSCRIPTION
ADVERTISE
CONTACT US
Sign up for FREE ezine
Latest news

21 Feb 2019

Cedar Fair looks ahead with optimism after 2018 results
BY Andy Knaggs

Full-year net revenues were up 2 per cent from 2017, reaching US$1.35bn

Full-year net revenues were up 2 per cent from 2017, reaching US$1.35bn

Cedar Fair has reported positive Q4 and full 2018 figures, along with a new long-term growth target.

Full-year net revenues were up 2 per cent from 2017, reaching US$1.35bn (€1.2bn, £1.05bn). Attendance was also up, at a record 25.9m guests, which is a 1 per cent increase on 2017. Average in-park guest per capita spending increased by 1 per cent also, to US$47.69 (€42.29, £37.16).

The company reported that its Halloween and WinterFest events performed well, contributing to a 9 per cent increase in net revenues in Q4 2018, compared to the same quarter in 2017. Advance purchase commitments for 2019 are reported as up by more than 25% on the same time last year, driven, it said, by “expanded season pass offerings, a strong capital programme and immersive new events scheduled to debut in 2019”.

If it attains its new 2023 Adjusted EBITDA target of US$575m (€509m, £448m), Cedar Fair will have achieved a compound annual growth rate of 4 per cent over the next five years.

Richard A Zimmerman, president and chief executive officer for the company, commented: "We ended the year strongly, achieving new highs in attendance and net revenues for both the fourth quarter and full year. Guests of all ages continue to delight in our immersive entertainment offerings, including our Halloween Haunt and WinterFest celebrations. The success and expansion of these events has created momentum heading into 2019 as we are seeing strong sales activity in our advance purchase channels across all categories and all parks."

Zimmerman added that the strategy going forward was to "broaden the guest experience through immersive new entertainment offerings", expand Cedar Fair’s season pass platform into a long-term, relationship-based programme to increase lifetime value, increase market penetration within certain audience segments, and pursue "value-enhancing development opportunities adjacent to our parks".



Connect with
Leisure Management
Magazine:
View issue contents
Sign up:
Instant Alerts/zines

Print edition
 

News headlines
Absinthe, hemp, and grappa spa treatments: Albaro Wellness & Spa opens at Grand Park Hotel Rovinj
Absinthe, hemp, and grappa spa treatments: Albaro Wellness & Spa opens at Grand Park Hotel Rovinj   23 May 2019

The Grand Park Hotel Rovinj, a new ultra-luxury five star hotel in Croatia, has opened a 3,800sq m spa, Albaro Wellness & Spa. Drawing from .... more>>
Real Madrid selects Carlos Slim-owned FCC for 'digital stadium of the future' project
Real Madrid selects Carlos Slim-owned FCC for 'digital stadium of the future' project   23 May 2019

Spanish construction company FCC has won a contest to help transform Real Madrid's 70-year-old Estadio Santiago Bernabéu into what the club's .... more>>
Cloward H20 complete US$150m waterpark for Marriott's Turnberry Miami Resort
Cloward H20 complete US$150m waterpark for Marriott's Turnberry Miami Resort   23 May 2019

Aquatic design specialists Cloward H2O have designed a U$150m (€134.8m, £118.6m) waterpark for the JW Marriot Miami Turnberry Resort and Spa in .... more>>
Airbnb teams up with 23andMe to promote DNA-based heritage travel
Airbnb teams up with 23andMe to promote DNA-based heritage travel   23 May 2019

Online travel marketplace Airbnb has teamed up with genetic testing company 23andMe to make the finding of heritage travel experiences based on DNA .... more>>
Disney-backed Tyffon raises US$7.8m with plans to expand free-roam VR experiences into US
Disney-backed Tyffon raises US$7.8m with plans to expand free-roam VR experiences into US   23 May 2019

Immersive entertainment company Tyffon has successfully raised US$7.8m (€7m, £6.17m) in new funding to help it expand its Tyffonium free-roam virtual .... more>>
Connacht Rugby secures full planning approval for €30m stadium project
Connacht Rugby secures full planning approval for €30m stadium project   23 May 2019

Connacht Rugby has been granted full planning permission for the €30m redevelopment of its Sportsground stadium in Galway, Ireland. The project .... more>>
Company profile


Vital Tech

Funded in 2013, Vital Tech is owned by its founders and some private investors.

View full profile>>

Catalogue gallery


Featured Supplier

PowerWave and DFC: a paradigm of progressive growth

PowerWave and DFC: a paradigm of progressive growth

Revolutionary cross trainer manufacturer and franchise, PowerWave, is experiencing the dizzying heights of success, having launched its new online platform, XPS Virtual Coach, five weeks ago. More>>




in this issue

• Leeds: first to lower childhood obesity
• PayAsUGym rebrands as Hussle
• Construction set to begin on Scottish tapestry attraction



Latest jobs

Jobs Search



Personal Trainer / Fitness Trainer
Salary: Fantastic Benefits
Location: London, England
Company: The Gym Group
Casual Fitness Assistants
Salary: Pay: £6.77- £8.21
Location: Bristol, UK
Company: Circadian Leisure Trust
Casual Recruitment
Salary: £6.15-£12.41 per hour dependent on role
Location: South Gloucestershire, UK
Company: Circadian Leisure Trust
Diary dates
Powered by leisurediary.com




28-31 May 2019

Wellness Tourism Association - Meeting of Members

Canyon Ranch, Tucson, United States



Leisure Management magazine 2018 issue 1
Leisure Management
2018 issue 1

View issue contents
View on turning pages
Download PDF
  Last word: The benefits of retreats
Research is showing retreats could have a positive health impact More>>
  Profile: Stephen Hulme
We look back on the career of Everyone Active CEO Stephen Hulme More>>


Leisure Management magazine 2016 issue 1

Leisure Management
2016 issue 1

View issue contents
View turning pages
Download PDF
  Tourism: Ireland’s wild side
The Wild Atlantic Way is helping tourists discover a whole new side of Ireland More>>
  Community: Bright Hart Lane
Grant Cornwell on the Tottenham Hotspur Foundation’s community work More>>


Published by The Leisure Media Company Ltd Portmill House, Portmill Lane, Hitchin, Herts SG5 1DJ. Tel: +44 (0)1462 431385 | Contact us | About us | © Cybertrek Ltd