Posted Tuesday, August 5, 2008 9:38 AM | Contributed by Jeff
Due to timing of the quarter, company cautions that increases in revenue and attendance are difficult with extra week. Including July, revenues for the first seven months of the year increased 2%, or approximately $11 million, on a comparable-park (excluding Geauga Lake) and operating week basis. This increase reflects a 3%, or 359,000-visit, increase in combined attendance through the end of July, a slight decrease in average in-park guest per capita spending, and a 2% decrease in out-of-park revenues.
Over the past five weeks, consolidated revenues, on a comparable-park and operating week basis, were up 5%, or approximately $14 million, largely due to a 6% increase in combined attendance, or 379,000 visits, and an $800,000 increase in out-of-park revenues. Over the same five-week period, average in-park guest per capita spending was down slightly, consistent with the trend experienced through the first six months of the year. Fueling the strong July attendance figures was the solid performance of our parks in the northern and southern regions, which saw attendance increases of approximately 388,000 visits and 37,000 visits, respectively.
Read the press release from Cedar Fair.