Cedar Fair net revenues for the quarter ended June 27, 2004, decreased slightly to $145.0 million from $145.2 million in 2003, on a 1% decrease in combined attendance and a 2% increase in average in-park guest per capita spending. Over this same period, out-of-park revenues, including resort hotels, decreased 4% between years. Excluding the acquisition of Geauga Lake, net revenues in the quarter decreased 5% to $138.1 million, on an 8% decrease in combined attendance and a 3% increase in average in-park guest per capita spending.
For the first six months of the year, net revenues were up 1% from last year, on a 2% increase in average in-park guest per capita spending, offset somewhat by a slight decrease in combined attendance and a 2% decrease in out-of-park revenues. Excluding the contribution of Geauga Lake, net revenues in the six-month period decreased 3% to $161.3 million, on a 6% decrease in combined attendance and a 3% increase in average in-park guest per capita spending.
Read the press release from Cedar Fair.
I think it's more obvious than ever that they need to put in a new ride at Geauga Lake next year.
But what's the deal with WOF? Are they capitalizing at all on their new coaster? If there was good news to tell, I'm sure we'd have heard it by now.
It seems they're talking more about developing GL as a full resort destination rather than a regional one-day park.
Knotts, DP and MiA meeting expectations. Expect MiA hyper rumors to surface any time now. ;)
CP quarterly attendance down 6%, weather cited
VF down 8% with Avalanche and TT opening in the area
WoF down 3% despite the addition of Spinning Dragons
Waterparks down 9% with a significant share of that drop from OoF.
*** This post was edited by CoastaPlaya 8/3/2004 3:03:09 PM ***
2. GL seems to be a royal mess. Now that it appears they are losing money on the season, I have to wonder if it would have been better to close it this summer. I know it seems crazy, but with all the bad press and probably bad experiences guests have had this year, all they have to show for it is a net loss. I think they should have closed it and used the valuable summer months to get a lot of the changes out of the way.
3. Is WoF getting a new ride next year? I've heard they are and it will be along the lines of a Silver Bullet. I've also heard they aren't. With WoF and OoF doing so poorly, I'm praying they build something.
They will NOT get a new coaster just one year after Spinning Dragons. That would be so not smart! Especialy an Invert.
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