Cedar Fair revenue, attendance up in third quarter

Posted Monday, October 31, 2005 7:50 PM | Contributed by Jeff

Cedar Fair announced its third quarter 2005 results. Net revenues for the quarter ended September 25, 2005, increased 4% to $317.0 million from $305.6 million in 2004, on a 2% increase in average in-park guest per capita spending and a 1% increase, or approximately 61,000 visits, in combined attendance. Over this same period, out-of-park revenues, including resort hotels, increased 10%, or $4.2 million, between years.

Read the press release from Cedar Fair.

Monday, October 31, 2005 11:32 PM
Interesting that they single out Michigan's Adventure as one of the two forces offsetting lower attendence... I wouldn't have thought it would be enough to make that big a difference, unless they had a really nice attendence jump this year.
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Tuesday, November 1, 2005 7:47 AM
They did. As of the last conference call, MIA's attendence was up 23%. Seeing as how they've been closed for almost 2 months now, it's reasonable to assume that they finished somewhere in that ballpark for the season.
*** This post was edited by MDOmnis 11/1/2005 7:48:18 AM ***
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Tuesday, November 1, 2005 11:19 AM
YTD attendance numbers from the conference call:

CP down 3% - 3.1 million
KBF down 3% - season isn't over
DP up 9% - 1.5 million
MiA up 18% - 550,000
VF down 5% - 986,000
WoF down 10% - 800,000
GL flat - 700,000 - after waterpark opened, they were up 7%

VF yanked the season pass prices up to $80 after September 2004 and up to $95 after June 2005; up $5 from the previously-published price of September 2004. They also hiked the gate prices a couple bucks. Between the poor economy and the increased squeeze on in-park pricing ($7 lockers, don't even start on sodas), they got--if you ask me--a well-deserved public response. So far, 2006 season passes will still be $70 thru Christmas. Thank goodness..

-'Playa

PS - Big ups to today's moderator Raheim

*** This post was edited by CoastaPlaya 11/1/2005 11:32:16 AM ***

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Tuesday, November 1, 2005 1:28 PM
I'd think that Dorney's gain in attendance was also more a factor of the summer heat (WWK) rather than the new major attraction (Hydra).
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Tuesday, November 1, 2005 2:58 PM
Also gotta wonder how much Dorney's attendance was driven by Ka... ;)

Also, is there a push to lower the prices for VF and WoF, given their attendance figures...or does CF think that Patriot and the new S&S at VF will make up that much ground. To be fair, I wouldn't be TOO surprised to see the Beema Invert show some nice reurns at the turnstiles...but the Screamin' Swing? Doubtful to help THAT much....

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Tuesday, November 1, 2005 3:36 PM
You have to remember VF had a new flat this year, too (RipTide).
While I think the S&S might be a better fit (you shoulda seen the hotdish crowd bolt from the queue when they'd first see a good flip!), VF's attendance will pop right back up to a million as soon as they adjust the pricing and marketing mix properly.

VF went two seasons without any new attractions whatsoever in the Whitman days and still kept a million a year coming through the gates. Of course, during those years passes could be purchased in groups of three for as little as $50 each, but...

Come to think of it, wasn't the final Saturday of VF's season rained out? So while a million-visitor season coulda been 'missed by that much,' it shouldn't have come to that. Especially with all the hot, sunny weekends preceding it.

-'Playa

*** This post was edited by CoastaPlaya 11/1/2005 3:55:35 PM ***

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Tuesday, November 1, 2005 4:10 PM
No the last Saturday had some rain, but the park was open and there were actually quite a few people there (including me). Of course if Cirque du Soleil hadn't been in town I wouldn't even bother going to VF as there is nothing that really screams "LOOK AT ME" at the park.

Also worst antique car ride ever made!

I agree with the comment on how Patriot will pop the crowds back up over a million this coming year at WOF. Now if we can avoid another 1999 in 2007 we'll be fine. Stupid park across the state gave away the gate of their new waterpark and that SUCKED the attendance away from WOF that year.

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Tuesday, November 1, 2005 4:48 PM
"the hotdish crowd"

What, you want me to comment after THAT? I'm not even *looking* at the stage mic after that one...

Man I need to go find a copy of Fargo to watch now... :)

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