NEWS
Immersive attractions fuel improved attendance and in-park revenues at Cedar Fair
POSTED 07 Aug 2019 . BY Andy Knaggs
We feel very good about how the year is tracking
– Richard A. Zimmerman
Cedar Fair Entertainment Company, which owns and operates 11 amusement parks and five water parks in North America, has reported Q2 and year-to-date results showing "meaningful" improvements in attendance, in-park per capita spending and out-of-park revenues.

The company has provided adjusted figures to compensate for the fact that Q2 2019 included an additional 64 operating days across all its parks compared to Q2 2018, due to a shift in this year's fiscal calendar.

These adjusted figures (described as "on a comparable operating calendar basis"), show that net revenues in Q2 2019 were up by 3 per cent, or US$14m (€12.5m, £11.5m), on a 4 per cent increase in in-park per capita spending, a 4 per cent increase in out-of-park revenues, and a slight decrease in attendance (of 47,000 visits, which is less than 1 per cent).

Adjusted EBITDA was up 5 per cent (or US$7m (€6.25m, £5.75m)) on a comparable operating calendar basis.

Cedar Fair has provided seven-month results, for the period up to 4 August 2019, during which it accrued US$877m (€784m, £723m), including revenues from the Schlitterbahn parks it acquired at the start of July. Excluding these acquisitions, attendance was up by 213,000 visits (1 per cent).

Again excluding the Schlitterbahn parks, net revenues for the first seven months were up by 4 per cent to US$850m (€760m, £700m), with in-park per capita spending up by 3 per cent, and out-of-park revenues up by 4 per cent.

Cedar Fair president and CEO Richard A. Zimmerman said the company's commitment to broadening the guest experience and investing in more immersive attractions was expanding its audience and improving the value perception of its parks.

"We feel very good about how the year is tracking as we move into the month of August, followed by the increasingly important and very popular Halloween and winter holiday events," Zimmerman continued.

"The strength of our core business, combined with the positive early returns we are seeing from the two recently acquired Schlitterbahn water parks, makes us confident that everything is in place this year for a strong finish."
 


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 - Immersive attractions fuel improved attendance and in-park revenues at Cedar Fair ...
25 Aug 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

07 Aug 2019

Immersive attractions fuel improved attendance and in-park revenues at Cedar Fair
BY Andy Knaggs

The company has provided adjusted figures to compensate for the fact that Q2 2019 included an additional 64 operating days across all its parks compared to Q2 2018

The company has provided adjusted figures to compensate for the fact that Q2 2019 included an additional 64 operating days across all its parks compared to Q2 2018

Cedar Fair Entertainment Company, which owns and operates 11 amusement parks and five water parks in North America, has reported Q2 and year-to-date results showing "meaningful" improvements in attendance, in-park per capita spending and out-of-park revenues.

The company has provided adjusted figures to compensate for the fact that Q2 2019 included an additional 64 operating days across all its parks compared to Q2 2018, due to a shift in this year's fiscal calendar.

These adjusted figures (described as "on a comparable operating calendar basis"), show that net revenues in Q2 2019 were up by 3 per cent, or US$14m (€12.5m, £11.5m), on a 4 per cent increase in in-park per capita spending, a 4 per cent increase in out-of-park revenues, and a slight decrease in attendance (of 47,000 visits, which is less than 1 per cent).

Adjusted EBITDA was up 5 per cent (or US$7m (€6.25m, £5.75m)) on a comparable operating calendar basis.

Cedar Fair has provided seven-month results, for the period up to 4 August 2019, during which it accrued US$877m (€784m, £723m), including revenues from the Schlitterbahn parks it acquired at the start of July. Excluding these acquisitions, attendance was up by 213,000 visits (1 per cent).

Again excluding the Schlitterbahn parks, net revenues for the first seven months were up by 4 per cent to US$850m (€760m, £700m), with in-park per capita spending up by 3 per cent, and out-of-park revenues up by 4 per cent.

Cedar Fair president and CEO Richard A. Zimmerman said the company's commitment to broadening the guest experience and investing in more immersive attractions was expanding its audience and improving the value perception of its parks.

"We feel very good about how the year is tracking as we move into the month of August, followed by the increasingly important and very popular Halloween and winter holiday events," Zimmerman continued.

"The strength of our core business, combined with the positive early returns we are seeing from the two recently acquired Schlitterbahn water parks, makes us confident that everything is in place this year for a strong finish."



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

Print edition
 

News headlines
Work begins on Heatherwick Studio's first Japanese project – a giant pergola in Tokyo
Work begins on Heatherwick Studio's first Japanese project – a giant pergola in Tokyo   23 Aug 2019

Work has begun on Heatherwick Studio’s latest project in Asia – a landscaped, giant "pergola" in central Tokyo. The mixed-use project will form the .... more>>
Singapore looks to wearable tech for population-based health initiative
Singapore looks to wearable tech for population-based health initiative   23 Aug 2019

The Singapore government is creating a "comprehensive digital health platform" based on the use of wearables, as part of a new nationwide health .... more>>
World Animal Protection report accuses accredited zoos of animal cruelty
World Animal Protection report accuses accredited zoos of animal cruelty   22 Aug 2019

Zoos and aquariums associations have criticised a report by World Animal Protection (WAP) which claims to have identified numerous examples around the .... more>>
New York flagship announced for Museum of Ice Cream as operator plans international expansion
New York flagship announced for Museum of Ice Cream as operator plans international expansion   22 Aug 2019

The Museum of Ice Cream (MOIC) has announced plans to open several new locations, both in the US and internationally over the next 18 months, starting .... more>>
New visitor centre to be developed at Auschwitz-Birkenau following US$5.5m donation
New visitor centre to be developed at Auschwitz-Birkenau following US$5.5m donation   21 Aug 2019

A donation of US$5.5m (€4.96m, £4.55m) will go towards the development of a new visitor services centre at the Auschwitz-Birkenau Memorial – the .... more>>
Cecilia Rollen to create personalised programme for The Spa Metropole by Givenchy
Cecilia Rollen to create personalised programme for The Spa Metropole by Givenchy   23 Aug 2019

The Spa Metropole by Givenchy at The Hotel Metropole in Monte Carlo has announced a collaboration with Cecilia Rollen to launch a new series of .... 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

FunXtion launch Online Coaching; helping PT’s work effectively, efficiently and increase client contact time

FunXtion launch Online Coaching; helping PT’s work effectively, efficiently and increase client contact time

FunXtion has introduced its new Online Coaching Tool, an advanced platform with quality content to help personal trainers work more efficiently. More>>




in this issue

• Equinox's home fitness launch overshadowed by Trump furore
• Holmes Place founder takes over TRIB3
• Merlin Entertainments returns to growth



Latest jobs

Jobs Search



Personal Trainer
Salary: 100% of your PT earnings
Location: Edmonton Green, London, UK
Company: The Gym Group
Personal Trainer
Salary: 100% of your PT earnings
Location: Tottenham, London, UK
Company: The Gym Group
Personal Trainer / Fitness Trainer
Salary: 100% of your PT earnings
Location: Darlington, UK
Company: The Gym Group
Diary dates
Powered by leisurediary.com




03 Sep 2019

Spa Business Bootcamp Course

Laico Hotels & Resorts Regency, Nairobi, Kenya



Leisure Management magazine 2018 issue 1
Leisure Management
2018 issue 1

View issue contents
View on turning pages
Download PDF
  Editor’s letter: Mental health
Liz Terry shares her thoughts More>>
  Profile: Aaron Simpson
Quintessentially is an exclusive concierge service for some of the world’s richest people. Co-founder Aaron Simpson reveals what wealthy people want More>>


Leisure Management magazine 2016 issue 1

Leisure Management
2016 issue 1

View issue contents
View turning pages
Download PDF
  Editor’s letter: Failing the elderly
Liz Terry shares her thoughts More>>
  Gymtopia: Angels’ advocate
Gymtopia founder Ray Algar on making a difference beyond the health club walls 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