The economy is not making a measurable impact on amusement parks. If anything, it's helping all but the Orlando parks. We posted a news story recently about analysts who think buying Cedar Fair and Six Flags, the only pure amusement park stocks, is a really good idea. What do you know, he was right. Six Flags is up 5 since winter while Cedar Fair is up 4.
Why? Because if the economy is slowing, people will be more discretionary about their vacation dollars. That means a trip to the local park (and both companies operate primarily regional attractions) is a lot cheaper than flying to Orlando to see the rat.
The drop in attendance is due to the reason the press release says, namely weather. If you don't believe me, visit a movie theater in the Cleveland area this weekend and see just how much people are spending to see a bunch of really mediocre movies.
-------------
Jeff
Webmaster/Admin - CoasterBuzz.com
*** This post was edited by Jeff on 6/2/2001. ***