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Immersive attractions fuel improved attendance and in-park revenues at Cedar Fair
POSTED 07 Aug 2019 . 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
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."
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NEWS
Immersive attractions fuel improved attendance and in-park revenues at Cedar Fair
POSTED 07 Aug 2019 . 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
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."
RELATED STORIES
Cedar Fair acquires Schlitterbahn brand and two Texas waterparks


Cedar Fair has announced the acquisition of waterpark operator Schlitterbahn, gaining two new Texas waterparks in the process.
Cedar Fair acquires Great America amusement park land in California


In what it calls a “once in a generation opportunity”, amusement resort operator Cedar Fair Entertainment has entered into an agreement to buy the rights to the land beneath its California’s Great America park in Santa Clara, California.
Cedar Fair looks ahead with optimism after 2018 results


Cedar Fair has reported positive Q4 and full 2018 figures, along with a new long-term growth target.
Cedar Fair eyes out-of-park investments as operator reports record revenues in 2018


Cedar Fair has revealed plans to grow and expand its external revenue streams through new developments attached to its existing parks portfolio.
MORE NEWS
Disney's first Mickey Mouse ride gets 2020 opening date
Disney has announced an opening date for Mickey & Minnie's Runaway Railway at its Hollywood Studios park, with the new attraction set to debut on 4 March 2020.
Astronaut Tim Peake calls for more investment in science
British astronaut Tim Peake has urged the UK government to invest more in science, education and research and development.
Government support signals green light for South Korean theme park plan
The long-proposed US$3.8bn (€3.4bn, £2.9bn) theme park at Hwaseong, 45km (30mi) from South Korea's capital Seoul, looks set to definitely go ahead, after the country's finance minister pledged the government's support.
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Clip ‘n Climb currently offers facility owners and investors more than 40 colourful and unique Cha [more...]
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We are pleased to announce that Euro Attractions Show is now IAAPA Expo Europe. [more...]
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FEATURED SUPPLIER

ProSlide appoints Chantal Theoret as director of global marketing
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VIDEO GALLERY

Simworx - The power to move you…
Simworx is acknowledged as one of the world’s leaders in the supply of 4D Effects Cinemas and Motion Simulation Attractions. Find out more...
More videos:
Trailer Aladdin - The Bachelor Party VR – Red Raion
Trailer Pinocchio - A Modern Tale VR – Red Raion
Introducing AnimaChat! – Animalive
+ More videos  

CATALOGUE GALLERY
 

+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

14 Jan 2020

BALPPA Annual General Meeting

ExCel, London, United Kingdom
14-16 Jan 2020

EAG International

ExCel London Exhibition Centre, London,
+ More diary  
 


ADVERTISE . CONTACT US

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

©Cybertrek 2019

ABOUT LEISURE MEDIA
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