Cedar Fair revenue up 5% for 2005, a record year

Posted Friday, February 10, 2006 12:10 PM | Contributed by Jeff

For the year, Cedar Fair's net revenues increased 5% to a record $568.7 million from $542.0 million in 2004. This was the result of a 1% increase, or 103,000 visits, in combined attendance, a 3% increase in average in-park guest per capita spending and a 12% increase, or $10.2 million, in out-of-park revenues, including resort hotels. Over this same period, operating income increased 17%, or $19.5 million, to $137.3 million.

Read the press release from Cedar Fair.

Friday, February 10, 2006 12:14 PM
Jeff's avatar Two other important things to note: Operating expense was up only 2%, and the company had its first profitable 4Q in history. That's really impressive, and it shows just how big of a deal the Halloween events are.
+0
Friday, February 10, 2006 1:00 PM
Have they officially announced the new ProSlide Toronado at Knott's Soak City yet? I did notice that no mention of the Kingdom of Dinsaurs replacement is mentioned, alas looks like 2007 for whatever take it's place. Silver Bullet should still provide a good halo effect for 06.
+0
Friday, February 10, 2006 3:01 PM
rollergator's avatar "12% increase, or $10.2 million, in out-of-park revenues, including resort hotels."

And even SF under the old management couldn't miss THOSE numbers, they speak for themselves...

+0
Saturday, February 11, 2006 1:02 PM
I agree that the Halloween events are a huge deal for Cedar Fair...which leads me to say I can't figure out why in the WORLD Cedar Fair would stop Geauga Lakes? I know last year wasn't that great for them, but what do they expect when they try to turn Halloween in to "Kiddie Love fest?"

I understand Cedar Fair wants to draw families. That's fine. I think they need to separate Cedar Point from Geauga Lake at Halloween time by offering two totally different experiences for families (Knott's Scary Farm anyone?) Not only that, but market them as such. Kennywood keeps looking better and better each year for their Fall productions.

What's worse than having Cedar Fair and Geauga Lake being relatively the same Halloween production. This year Geauga Lake won't even have one.

I hope they higher ups are just taking it away this year to revamp their thinking and put on one heck of a show in 2007.


*** This post was edited by RollerCoasterGod 2/11/2006 1:03:33 PM ***

+0
Saturday, February 11, 2006 2:42 PM
I think the problem was that the proximity of the parks to each other were hurting performance at both parks (or so they thought).

Also, I don't think that the Halloween events have total say in 4Q profits. Let's not forget the indoor waterpark/hotel next to CP that helped boost profits.

All-in-all, this is good to hear. And the distribution will be coming next week, too. :)

+0
Saturday, February 11, 2006 2:49 PM
From the sounds of it, GL was completly dead during the Halloween event. It cost more money to operate the park than it brings in.
+0
Saturday, February 11, 2006 4:03 PM
It was not dead. If the weather was good, the crowd was good.Several nights the line for BTT was down the main midway and heading towards Thunderhawk.

Lines for Phobia were hitting some pretty nice lenghts also and the Fright Zone was usually pretty busy untill the last half hour. Again, as long as the weather wasn't freezing or wet.
*** This post was edited by Red Garter Rob 2/11/2006 4:04:33 PM ***

+0
Saturday, February 11, 2006 4:52 PM
Jeff's avatar It doesn't matter what anyone thinks it was, if it wasn't a money loser, they wouldn't have dropped it.
+0
Saturday, February 11, 2006 10:18 PM
It's not like CedarFair is loosing a Halloween event,all the props were sent to ValleyFair wich is staring their Haunt this year.ValleyFairs Haunt will probably bring in alot more money because it's not competing with Cedar Point.
+0
Sunday, February 12, 2006 1:38 PM
...you mean "Valley Scare!" ;)

But regardless of the nomenclature, I think you're right - it'll be more profitable using the same decorations.

I personally think that the haunt will return in a few years - after Geauga Lake (under CF leadership) gets a bit of their attendance back, and it becomes financially feasible to bring it back.

+0
Monday, February 13, 2006 9:42 AM
Geauga Lake needs to stick to what they have done best...which is Oktoberfest. Noone else does it and it is a marketable event for the blue collar area of NE Ohio. Let Cedar Point keep Halloweekends a unique northern Ohio event.
+0
Monday, February 13, 2006 4:20 PM
That was an interesting conference call...I've never listened to one (for any company) with so few analyst questions! I guess they were all still in shock from the Q4 profit <g>.

I thought it was interesting that Kinzel addressed the Paramount Parks' sale in his opening remarks...it was pretty clear that he didn't want the question over and over again from the analysts. Basically, it was just the same statement about their fudiciary responsibility to review all possible opportunities for growth--including Paramount Parks--but no decision on bidding would be made without complete due diligence, yada, yada... (You know, the standard answer that any smart CEO of a public company would provide...)

+0

You must be logged in to post

POP Forums - ©2018, POP World Media, LLC
Loading...