Cedar Fair outlines 2007 cap ex program

Posted Friday, December 22, 2006 12:02 AM | Contributed by Jeff

Cedar Fair Entertainment Company has announced plans for $83 million in additions and improvements at its parks for the 2007 season. While Cedar Point installs the $21 million Maverick, Kings Dominion will make an $11 million water park expansion, and Kings Island and Knott's Berry Farm will make announcements about $10 million and $8 million thrill rides. Valleyfair is opening the $7 million Renegade wooden coaster.

Read the press release from Cedar Fair.

Friday, December 22, 2006 12:15 AM
bobthecoasterguy's avatar I know I'm curious about the $10M thrill ride at KI..
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Friday, December 22, 2006 12:21 AM
Don't look too much into that number. Capital improvement can include everything from repainting a ride to installing new light fixtures in a bathroom... $10 million is the sum of EVERYTHING PKI is working on, not just the price of the ride.
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Friday, December 22, 2006 12:42 AM
bobthecoasterguy's avatar Too bad. :(
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Friday, December 22, 2006 1:15 AM
Acoustic Viscosity's avatar Maybe they're gettomg the BTR from New Orleans. ;)
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Friday, December 22, 2006 1:33 AM
rollergator's avatar My guess for PKI:

Sonny, w/ trains - $5-6M, X-Flight relocation - $2-3M, added infrastructure (restrooms up by X-Flight, paths, electrical, etc.) - $2M

= $10M total.

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Friday, December 22, 2006 1:44 AM
Geez, $5-6M for the SOB reconstruction, and $7M for Renegade. I think Valleyfair's clearly the winner there.
*** This post was edited by Vincent Greene 12/22/2006 1:45:04 AM ***
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Friday, December 22, 2006 9:07 AM
Is it me or does the front of the log vehicle on the CF page look like a pair of big blue LIPS?
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Friday, December 22, 2006 9:08 AM
DawgByte II's avatar This will be the first year that Paramount Canada's Wonderland gets nothing new for the season in well over ten years. Each year, they have kept up with the demand as a major new flat ride or coaster was introduced (last year was the stunt show, however).

It comes rather as a disappointment that Cedar Fair didn't invest any money into Canada's Wonderland since it's been the highest attended seasonal park two seasons in a row.

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Friday, December 22, 2006 9:52 AM
Jeff's avatar Sounds like precisely the reason to stop throwing new things at it. Trust me, they have a lot of strong feelings about the park, not the least of which is to get some sit-down restaurants in there (and the other Paramount parks as well).
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Friday, December 22, 2006 10:03 AM
When was the last time Cedar Point went a year without adding an attraction? Or two years without a ride, even? As much faith as I have in Cedar Fair to run the Paramount Parks, they will always be second-banana.

Edit: Second banana to Cedar Point, that is.
*** This post was edited by Arson 12/22/2006 10:04:45 AM ***

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Friday, December 22, 2006 11:37 AM
rollergator's avatar PCW is interesting...might be the only park I've EVER been to where the lines for flats were as long or longer than the lines for coasters.

FABULOUS place, one of my top-3 megaparks...even if the two best coasters there are an Arrow suspended and a powered Mack Blauer-Enzian. As Jeff noted, PCW (along with the other Paramount parks) needs a food-options upgrade.

An inverted shuttle wouldn't hurt either - but I've already given Steel Venom away...LOL! :)

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Friday, December 22, 2006 11:37 AM
Jeff's avatar I don't understand why people try to make it an emotional issue. Cedar Point had hundreds of hotel rooms to fill, the other parks do not.
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Friday, December 22, 2006 11:42 AM
sws's avatar My initial feeling after reading the press release was "Is that all they are planning to do." There didn't seem to be anything to expect beyond changes that have already been announced/rumored for several months. I then realized this was foolish of me. You have to remember that Cedar Fair just spent $1.24 billion to acquire the five Paramount parks. In spite of this, it's impressive that they will spend an additional $83 million on further expansion/improvements. When I checked the Cedar Fair website, it appears that they spent $58 million in 2006 capital investment - not counting the Paramount deal. Thus in spite of already spending $1.24 billion, spending on capital expansion increased 43% from 2006 to 2007. That's pretty impressive. Granted 75% of the 2007 capital expansion will go to five parks in the chain, leaving only $22 million to be split amongst the rest. So if your homepark is not one of the lucky five, you won't see much change. Even though we all naturally would like to see more, I personally feel lucky. My homepark, ValleyFair, is one of the lucky ones that is getting a major new attraction. Plus I can use the new MaxxPass to visit four of the five newly acquired Paramount parks we wouldn't otherwise be able to see (won't be able to make it to California this year). We should be happy that Cedar Fair isn't making the mistake Six Flags did and repeatedly overspend to the point of being fiscally irresponsible and risking the future of the company.*** This post was edited by sws 12/22/2006 12:09:44 PM ***
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Friday, December 22, 2006 2:01 PM
beast7369's avatar You also have to realize that this is about 1/2 of what Six Flags would have spent right after their massive acquisitions. I am very pleased that they are being extremely conservative right out of the bat. Maybe they wont run into the problems Six Flags did by buying to much too quickly.
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Friday, December 22, 2006 2:23 PM
Jeff, Cedar Point could have added a $10 million dollar ride, and it still would have filled hotels (granted, that comes down to marketing I guess). It's just looking like Ohio will steal the spotlight next year. I'm sure all the rest of the parks will get capital for something new and big by the end of the decade.
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Friday, December 22, 2006 6:32 PM
Folks, when you have an outstanding flagship park in a chain of stable strong amusement parks, it's obvious and logical for the big money to go to that park most often. Cedar Point has had a few years with fantastic flat additions, but even they were added at a larger scale than many of the same rides at other parks (how many other swings were added this year that compared to SkyHawk?) When it comes to coasters it's no different, the bar is a bit higher and often at a higher price tag. The ride needs to fit in and meet the expectations of the rest of the park. Let's face it a ride like Maverick would not fit in at GL or MiA or most of the other CF parks. That's what the Six Flags people couldn't grasp and at their cost. So don't worry... CF knows how to spilt up the money.*** This post was edited by JoelWhy 12/22/2006 6:35:33 PM ****** This post was edited by JoelWhy 12/22/2006 6:38:12 PM ***
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Friday, December 22, 2006 8:06 PM
Dawgbyte II said:

This will be the first year that Paramount Canada's Wonderland gets nothing new for the season in well over ten years. Each year, they have kept up with the demand as a major new flat ride or coaster was introduced (last year was the stunt show, however).

I fail to see the problem. They've gotten a new ride/attraction virtually every year for a decade now. When we were there in '99 they had just put in "The Fly", and since then they've added numerous flats, 1-2 more coasters, and etc. Granted, they needed all of these additions, and I still don't see the problem. I'm actually looking at Niagara/Toronto/PCW as a possible trip for next summer, and PCW's ongoing expansion is a big reason for that trip.

I think the park seems great as is right now, maybe laying low on PCW would be a good thing for a season or two?*** This post was edited by Floorless Fan 12/22/2006 8:07:15 PM ***

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Friday, December 22, 2006 9:23 PM
My only concern about the 'no new attraction @ PCW" would be the fact that they have tradtionally such high attendance that they need to have more stuff for people to do. Kinda like Holiday World keeps adding stuff to spread out the crowds. But I guess that begs the question is PCW's attendance rising, or has it plateaued?
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Friday, December 22, 2006 11:19 PM
I would have liked to see something new at Dorney. I think they added a few things to their water park last year, but it seems as if Dorney wasn't included in the spending this year.
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