Record results in 2019 for Cedar Fair after water park acquisitions | attractionsmanagement.com news
GET ATTRACTIONS MANAGEMENT
magazine
Yes! Send me the FREE digital edition of Attractions Management and the FREE weekly Attractions Management ezines and breaking news alerts!
Not right now, thanksclose this window
POST YOUR JOB ONLINE
Free ezine/digital edition sign up
Jobs   News   Features   Video    Products   Company profilesProfiles   Magazine   Handbook   Advertise  
NEWS
Record results in 2019 for Cedar Fair after water park acquisitions
POSTED 20 Feb 2020 . BY Andy Knaggs

The initiatives within our long-range strategic plan...are clearly resonating in our markets
– Richard A. Zimmerman
Cedar Fair has hailed its most successful ever year following the release of its financial results for 2019.

The amusement resort operator, which has 13 properties in the US and Canada, released two sets of figures: those for its full operations including the two Schlitterbahn waterparks it acquired in July 2019; and same-park figures, which exclude the Schlitterbahn results, enabling a better comparison to its previous year.

Cedar Fair says it's achieved "solid growth" in its three core revenue metrics of attendance, in-park per capita spending and out-of-park revenues.

Attendance increased by 8 per cent to 27.9 million guests (same-park: 5 per cent increase), while in-park per capita spending increased by 1 per cent in both sets of figures. Out-of-park revenues were up 11 per cent to US$169m (€156.6m, £131.4m) (same-park increased by 8 per cent).

On a same-park basis, Cedar Fair's net income increased by 27 per cent (US$34m, €31.5m, £26.4m), while adjusted earnings increased by 5 per cent, or US$21m (€19.5m, £16.3m). Revenues for the full year for the full business (including the Schlitterbahn acquisitions) came to US$1.47bn (€1.36bn, £1.14bn), which is an increase of US$126m (€116.7m, £98m) or 9 per cent, compared to 2018.

Cedar Fair's statement outlined a number of new initiatives for 2020, including the launch of the giga-coaster Orion at Kings Island, new features coming to five of its water parks, and the roll-out of its PassPerks loyalty programme, which was piloted in 2019. Sales of new season passes have made their best ever start, the company said.

Richard Zimmerman, president and CEO of Cedar Fair, said of the 2019 results: "We're extremely pleased with our 2019 season, which was the most successful year in Cedar Fair's history. The initiatives within our long-range strategic plan, which focused on broadening the guest experience through more immersive attractions and entertainment, are clearly resonating in our markets."

Zimmerman added: "In 2020, we plan to expand upon our strategy of offering limited duration special events and experiential entertainment of scale, while continuing to invest in the traditional rides and attractions which have worked so well for so long."

The company has a new long-term growth target, said Zimmerman, of increasing annual adjusted EBITDA to US$600m (€555.7m, £466.5m) by 2024. In 2019, the figure was US$505m (€467.7m, £392.6m).
Sign up here to get the Attractions Management weekly ezine and every issue of Attractions Management magazine free on digital.
RELATED STORIES
Cedar Fair on course for 'best year' after Q3 results reflect 'strong' consumer demand


North American theme park operator Cedar Fair Entertainment Company, which owns and operates 11 amusement parks and five water parks in the territory, has filed Q3 and year- to-date financial results that show increased revenues and Adjusted EBITDA, but reduced net income.
Kings Dominion unveils new water attractions for 2020


Cedar Fair's Virginia amusement and waterpark, Kings Dominion, has announced three new additions to its 20-acre (80,900sq m, 265,500sq ft) Soak City waterpark, which is set to open in 2020.
Immersive attractions fuel improved attendance and in-park revenues at Cedar Fair


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.
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.
MORE NEWS
Museum operators using AR to take their exhibits global
Two leading museum operators in the UK have partnered with an augmented reality specialist to present holographic exhibits and experiences for students around the world.
John McAslan + Partners-designed M7 cultural hub and museum opens in Doha
A new creative hub in Doha looks to position itself as the new heart of Qatar’s fashion and design industry – as well as a public showcase for innovation and entrepreneurship in the region.
North American and Japanese attractions dominate 2021 Thea Awards
North America and Japan-based visitor attractions and businesses picked up 14 of the 19 Thea Awards this year.
IAAPA news: VRstudios and Creative Works launch 'Fury' VR attraction
VRstudios and Creative Works have launched a new VR-based multiplayer attraction.
+ More news   
LATEST JOBS
ASSISTANT DIRECTOR OF OPERATIONS
Blackpool Pleasure Beach
Salary:
Job location: Blackpool , United Kingdom
Assistant Manager - Event and Conferencing
Derby City Council
Salary: £26,511 - £29,577pa
Job location: Derby , United Kingdom
Director of Operations
Brimhams Active
Salary: £50,000 - £60,000pa + relocation allowance + excellent benefits
Job location: Harrogate - with flexible hybrid home and office working arrangements , United Kingdom
Director of Business Development
Brimhams Active
Salary: £50,000 - £60,000pa + relocation allowance + excellent benefits
Job location: Harrogate - with flexible hybrid home and office working arrangements , United Kingdom
Operations Manager
Real Live Leisure Company Ltd
Salary: £36,000 - £40,000 + bonus + excellent benefits
Job location: Ulverston, Cumbria , United Kingdom
+ More jobs  

COMPANY PROFILES
Painting With Light

By combining lighting, video, scenic and architectural elements, sound and special effects we tell s [more...]
DJW

David & Lynn Willrich started the Company over thirty years ago, from the Audio Visual Department [more...]
Antonio Zamperla Spa

Founded in 1966, the Antonio Zamperla SPA is privately owned by Mr Alberto Zamperla. Located in Vi [more...]
Holovis

Holovis is a privately owned company established in 2004 by CEO Stuart Hetherington. [more...]
+ More profiles  
FEATURED SUPPLIER

Giving the Gift of an experience has limitless benefits
As we emerge from the clutches of Covid and our freedom of movement is fully restored, giving the gift of an experience is more appealing than ever before. [more...]
VIDEO GALLERY

Proslide Tech Inc - ProSlide | Atlantis Dubai
More videos:
+ More videos  

CATALOGUE GALLERY
 
+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

01-07 Dec 2022

World Leisure Congress 2022

tbc, Dunedin, New Zealand
+ More diary  
LATEST ISSUES
+ View Magazine Archive

Attractions Management

2021 issue 3


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription

Attractions Management

2021 issue 2


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription

Attractions Management

2021 issue 1


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription

Attractions Management

2020 issue 1


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription

Attractions Management News

06 Apr 2020 issue 153


View on turning pages
Download PDF
View archive
FREE digital subscription
Print subscription

Attractions Handbook

2019


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription
 
ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
 
ATTRACTIONS MANAGEMENT
ATTRACTIONS MANAGEMENT NEWS
ATTRACTIONS HANDBOOK
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS
ADVERTISE . CONTACT US

Leisure Media
Tel: +44 (0)1462 431385

©Cybertrek 2021
Jobs    News   Products   Magazine
NEWS
Record results in 2019 for Cedar Fair after water park acquisitions
POSTED 20 Feb 2020 . BY Andy Knaggs
The initiatives within our long-range strategic plan...are clearly resonating in our markets
– Richard A. Zimmerman
Cedar Fair has hailed its most successful ever year following the release of its financial results for 2019.

The amusement resort operator, which has 13 properties in the US and Canada, released two sets of figures: those for its full operations including the two Schlitterbahn waterparks it acquired in July 2019; and same-park figures, which exclude the Schlitterbahn results, enabling a better comparison to its previous year.

Cedar Fair says it's achieved "solid growth" in its three core revenue metrics of attendance, in-park per capita spending and out-of-park revenues.

Attendance increased by 8 per cent to 27.9 million guests (same-park: 5 per cent increase), while in-park per capita spending increased by 1 per cent in both sets of figures. Out-of-park revenues were up 11 per cent to US$169m (€156.6m, £131.4m) (same-park increased by 8 per cent).

On a same-park basis, Cedar Fair's net income increased by 27 per cent (US$34m, €31.5m, £26.4m), while adjusted earnings increased by 5 per cent, or US$21m (€19.5m, £16.3m). Revenues for the full year for the full business (including the Schlitterbahn acquisitions) came to US$1.47bn (€1.36bn, £1.14bn), which is an increase of US$126m (€116.7m, £98m) or 9 per cent, compared to 2018.

Cedar Fair's statement outlined a number of new initiatives for 2020, including the launch of the giga-coaster Orion at Kings Island, new features coming to five of its water parks, and the roll-out of its PassPerks loyalty programme, which was piloted in 2019. Sales of new season passes have made their best ever start, the company said.

Richard Zimmerman, president and CEO of Cedar Fair, said of the 2019 results: "We're extremely pleased with our 2019 season, which was the most successful year in Cedar Fair's history. The initiatives within our long-range strategic plan, which focused on broadening the guest experience through more immersive attractions and entertainment, are clearly resonating in our markets."

Zimmerman added: "In 2020, we plan to expand upon our strategy of offering limited duration special events and experiential entertainment of scale, while continuing to invest in the traditional rides and attractions which have worked so well for so long."

The company has a new long-term growth target, said Zimmerman, of increasing annual adjusted EBITDA to US$600m (€555.7m, £466.5m) by 2024. In 2019, the figure was US$505m (€467.7m, £392.6m).
Sign up here to get the Attractions Management weekly ezine and every issue of Attractions Management magazine free on digital.
RELATED STORIES
Cedar Fair on course for 'best year' after Q3 results reflect 'strong' consumer demand


North American theme park operator Cedar Fair Entertainment Company, which owns and operates 11 amusement parks and five water parks in the territory, has filed Q3 and year- to-date financial results that show increased revenues and Adjusted EBITDA, but reduced net income.
Kings Dominion unveils new water attractions for 2020


Cedar Fair's Virginia amusement and waterpark, Kings Dominion, has announced three new additions to its 20-acre (80,900sq m, 265,500sq ft) Soak City waterpark, which is set to open in 2020.
Immersive attractions fuel improved attendance and in-park revenues at Cedar Fair


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.
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.
MORE NEWS
Museum operators using AR to take their exhibits global
Two leading museum operators in the UK have partnered with an augmented reality specialist to present holographic exhibits and experiences for students around the world.
John McAslan + Partners-designed M7 cultural hub and museum opens in Doha
A new creative hub in Doha looks to position itself as the new heart of Qatar’s fashion and design industry – as well as a public showcase for innovation and entrepreneurship in the region.
North American and Japanese attractions dominate 2021 Thea Awards
North America and Japan-based visitor attractions and businesses picked up 14 of the 19 Thea Awards this year.
IAAPA news: VRstudios and Creative Works launch 'Fury' VR attraction
VRstudios and Creative Works have launched a new VR-based multiplayer attraction.
Herzog and de Meuron’s M+ museum of visual culture distils essence of Hong Kong
M+, described as Asia’s first global museum of contemporary visual culture, has opened in Hong Kong.
JRA becomes part of the RWS Entertainment Group
Experience design firm JRA has been acquired by live entertainment specialist RWS Entertainment Group. The news was revealed in a press conference today (16 November) at the IAAPA trade show in Orlando Florida.
+ More news   
 
COMPANY PROFILES
Painting With Light

By combining lighting, video, scenic and architectural elements, sound and special effects we tell s [more...]
DJW

David & Lynn Willrich started the Company over thirty years ago, from the Audio Visual Department [more...]
Antonio Zamperla Spa

Founded in 1966, the Antonio Zamperla SPA is privately owned by Mr Alberto Zamperla. Located in Vi [more...]
Holovis

Holovis is a privately owned company established in 2004 by CEO Stuart Hetherington. [more...]
+ More profiles  
FEATURED SUPPLIER

Giving the Gift of an experience has limitless benefits
As we emerge from the clutches of Covid and our freedom of movement is fully restored, giving the gift of an experience is more appealing than ever before. [more...]
VIDEO GALLERY

Proslide Tech Inc - ProSlide | Atlantis Dubai
More videos:
+ More videos  

CATALOGUE GALLERY
+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

01-07 Dec 2022

World Leisure Congress 2022

tbc, Dunedin, New Zealand
+ More diary  
 


ADVERTISE . CONTACT US

Leisure Media
Tel: +44 (0)1462 431385

©Cybertrek 2021

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
ATTRACTIONS MANAGEMENT NEWS
ATTRACTIONS HANDBOOK
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS