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NEWS
Record quarter for Cedar Fair as operator targets US$500m earnings record
POSTED 03 Aug 2017 . BY Tom Anstey
Attendance at Cedar Fair parks is up year-on-year by 134,000 people to 6.7 million visitors Credit: Shutterstock.com
Cedar Fair is on course for another record year of results, after the company recorded net revenues of US$393m (€332m, £297m) for the second quarter of 2017, US$5m (€4.2m, £3.8m) higher than record revenues reported for the same period last year.

The 1 per cent increase in revenue reflects a 2 per cent increase in attendance year-on-year, up 134,000 people to 6.7 million visitors.

Cedar Fair has attributed the increase to a strong capital investment programme, which has included the introduction of a number of new rides in 2017, the success of its early-season multi-week special events, and the extra benefit of the Easter holiday occurring during the second quarter this year versus the first quarter last year.

Discounting the unusual timing of the Easter break, earnings before interest, taxes, depreciation, and amortisation (EBITDA) were US$150m (€126.6m, £113.8m) – an increase of 2 per cent compared with 2016’s figures.

"We continue to see the resilience of our business model and the underlying demand for our products remains strong," said Cedar Fair CEO Matt Ouimet.

"Our investments in new rides and attractions, special events and high-quality group catering facilities are further differentiating Cedar Fair from other group entertainment options. We have also enhanced our waterpark business model by improving the overall guest amenities and increasing the quality and capacity of our food and beverage offerings within these venues.

"Maintaining these trends in the coming weeks, combined with strong demand for our upcoming Halloween and WinterFest events, is important to enable us to achieve our long-term adjusted EBITDA goal of US$500m (€422.5m, £377.6m) – a year earlier than originally planned."
RELATED STORIES
  Competitors not a concern for Cedar Fair, says CEO Matt Ouimet


With California’s hotbed of theme park attractions all making significant investment into new developments, Cedar Fair CEO Matt Ouimet has said the company does not feel pressured to make the same commitment at Knott’s Farm following a record annual earnings report.
MORE NEWS
The Everyday Heritage initiative celebrates and preserves working class histories
Off the back of the success of the first round of Everyday Heritage Grants in 2022, Historic England is funding 56 creative projects that honour the heritage of working-class England.
Universal announces long-awaited details of its Epic Universe, set to open in 2025
Universal has revealed it will be adding new Harry Potter attractions, alongside Super Nintendo and How to Train Your Dragon worlds to its Florida resort.
Heartbreak for Swedish theme park, Liseberg, as fire breaks out
A fire has destroyed part of the new water world, Oceana, at Liseberg in Sweden, and a construction worker has been reported missing.
Museum director apologises after comparing the city of Florence to a sex worker
Museum director Cecilie Hollberg has come under fire for comparing the city to a sex worker due to uncontrolled mass tourism.
+ More news   
LATEST JOBS
Director of Operations
Active Luton
Salary: £61,000 - £64,000 + exceptional pension + excellent benefits
Job location: Luton , United Kingdom
Chief Executive Officer, Mount Batten Centre
Mount Batten Group
Salary: c£65,000pa + pension + benefits
Job location: mount batten centre, plymouth , United Kingdom
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COMPANY PROFILES
Taylor Made Designs

Taylor Made Designs (TMD) has been supplying the Attractions, Holiday Park, Zoos and Theme Park mark [more...]
instantprint

We’re a Yorkshire-based online printer, founded in 2009 by Adam Carnell and James Kinsella. [more...]
Alterface

Alterface’s Creative Division team is seasoned in concept and ride development, as well as storyte [more...]
Sally Corporation

Our services include: Dark ride design & build; Redevelopment of existing attractions; High-quality [more...]
+ More profiles  
CATALOGUE GALLERY
 

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DIRECTORY
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DIARY

 

08-08 May 2024

Hospitality Design Conference

Hotel Melià , Milano , Italy
10-12 May 2024

Asia Pool & Spa Expo

China Import & Export Fair Complex, Guangzhou, China
+ More diary  
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Jobs    News   Products   Magazine   Subscribe
NEWS
Record quarter for Cedar Fair as operator targets US$500m earnings record
POSTED 03 Aug 2017 . BY Tom Anstey
Attendance at Cedar Fair parks is up year-on-year by 134,000 people to 6.7 million visitors Credit: Shutterstock.com
Cedar Fair is on course for another record year of results, after the company recorded net revenues of US$393m (€332m, £297m) for the second quarter of 2017, US$5m (€4.2m, £3.8m) higher than record revenues reported for the same period last year.

The 1 per cent increase in revenue reflects a 2 per cent increase in attendance year-on-year, up 134,000 people to 6.7 million visitors.

Cedar Fair has attributed the increase to a strong capital investment programme, which has included the introduction of a number of new rides in 2017, the success of its early-season multi-week special events, and the extra benefit of the Easter holiday occurring during the second quarter this year versus the first quarter last year.

Discounting the unusual timing of the Easter break, earnings before interest, taxes, depreciation, and amortisation (EBITDA) were US$150m (€126.6m, £113.8m) – an increase of 2 per cent compared with 2016’s figures.

"We continue to see the resilience of our business model and the underlying demand for our products remains strong," said Cedar Fair CEO Matt Ouimet.

"Our investments in new rides and attractions, special events and high-quality group catering facilities are further differentiating Cedar Fair from other group entertainment options. We have also enhanced our waterpark business model by improving the overall guest amenities and increasing the quality and capacity of our food and beverage offerings within these venues.

"Maintaining these trends in the coming weeks, combined with strong demand for our upcoming Halloween and WinterFest events, is important to enable us to achieve our long-term adjusted EBITDA goal of US$500m (€422.5m, £377.6m) – a year earlier than originally planned."
RELATED STORIES
Competitors not a concern for Cedar Fair, says CEO Matt Ouimet


With California’s hotbed of theme park attractions all making significant investment into new developments, Cedar Fair CEO Matt Ouimet has said the company does not feel pressured to make the same commitment at Knott’s Farm following a record annual earnings report.
MORE NEWS
The Everyday Heritage initiative celebrates and preserves working class histories
Off the back of the success of the first round of Everyday Heritage Grants in 2022, Historic England is funding 56 creative projects that honour the heritage of working-class England.
Universal announces long-awaited details of its Epic Universe, set to open in 2025
Universal has revealed it will be adding new Harry Potter attractions, alongside Super Nintendo and How to Train Your Dragon worlds to its Florida resort.
Heartbreak for Swedish theme park, Liseberg, as fire breaks out
A fire has destroyed part of the new water world, Oceana, at Liseberg in Sweden, and a construction worker has been reported missing.
Museum director apologises after comparing the city of Florence to a sex worker
Museum director Cecilie Hollberg has come under fire for comparing the city to a sex worker due to uncontrolled mass tourism.
Populous reveals plans for major e-sports arena in Saudi Arabia
Populous have unveiled their plans for a state-of-the-art e-sports arena, designed to stand as a central landmark in Qiddaya City’s gaming and e-sports district, Saudi Arabia.
Raby Castle reveals ambitious plans to become a major visitor destination
Raby Castle, known as one of the finest medieval fortifications in England, is nearing the end of an ambitious two-year renovation project.
+ More news   
 
COMPANY PROFILES
Taylor Made Designs

Taylor Made Designs (TMD) has been supplying the Attractions, Holiday Park, Zoos and Theme Park mark [more...]
instantprint

We’re a Yorkshire-based online printer, founded in 2009 by Adam Carnell and James Kinsella. [more...]
Alterface

Alterface’s Creative Division team is seasoned in concept and ride development, as well as storyte [more...]
Sally Corporation

Our services include: Dark ride design & build; Redevelopment of existing attractions; High-quality [more...]
+ More profiles  
CATALOGUE GALLERY
+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

08-08 May 2024

Hospitality Design Conference

Hotel Melià , Milano , Italy
10-12 May 2024

Asia Pool & Spa Expo

China Import & Export Fair Complex, Guangzhou, China
+ More diary  
 


ADVERTISE . CONTACT US

Leisure Media
Tel: +44 (0)1462 431385

©Cybertrek 2024

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