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Theme Park Supplier's News of the Week #12 Bolliger Mabillard, MAURER Rides, ETF Ride Systems, Lo-...
Theme Park Supplier's News of the Week #12
World Waterpark Association Success for WWA's 33th Symposium and Trade Show
World Waterpark Association
Hong Kong Disneyland to introdoce Iron Man Experience First major Marvel attraction planned in 2016
Hong Kong Disneyland to introdoce Iron Man Experience
Theme Park Supplier's News of the Week #11 Zamperla, Simworx, Electrosonic, Vortex
Theme Park Supplier's News of the Week #11
Theme Park Industry News Roundup #6 Liseber, Universal Parks and Resorts, IAAPA, Herschend ...
Theme Park Industry News Roundup #6
Premier Rides wins €8 million contract with Plopsa Gr... New launch coaster to open at Holiday Park in 2014
Premier Rides wins €8 million contract with Plopsa Gr...
Theme Park Industry News Roundup #5 Tokyo Disney Resort, Merlin, European Star Awards
Theme Park Industry News Roundup #5
Record anniversary edition for Euro Attractions Show More than 8,500 attendees on a record exhibit floor
Record anniversary edition for Euro Attractions Show
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Latest Industry News

CORPORATEPublished on January 28, 2014 NewsParcs to take an extended break
EVENTPublished on November 10, 2013 IAAPA Attractions Expo 2013 debuts next week in Orlando
CORPORATEPublished on November 10, 2013 Difficult season for Compagnie des Alpes' amusement parks
NEWPublished on October 21, 2013 Theme Park Supplier's News of the Week #12
NEWPublished on October 13, 2013 Theme Park Supplier's News of the Week #11
NEWPublished on October 13, 2013 Theme Park Industry News Roundup – Issue #6
581 articles published » See all articles

Welcome!

NewsParcs is an online trade publication dedicated to theme park industry professionals worldwide.

Since 1998, we work in direct contact with manufacturers, suppliers, consultants, owners and operators to publish only reliable and relevant information.

NewsParcs, connecting the theme park industry!

EAS 2013 NewsParcs will do a full coverage of the IAAPA Attractions Expo 2013 in Orlando to have a look at the latest trends and developments of the global theme park industry.

Follow us on Twitter (@NewsParcs) from November 19 to 22 with the hashtag #IAAPA

Cedar Fair continues its strong growth momentum

after the summer season

Update : 07/10/13 - 16h07 Published by François Mayné the 6 October 2013, Corporate.
Cedar Fair Entertainment Company has announced new record financial results through the first half of its fiscal 2013 ended on June 30. The operator of regional amusement parks, water parks and hotels (twenty properties across North America) reported that its interim net revenues amounted to $403.4 million (approx €297 million), up 5% compared with the same period a year ago.

Cedar Fair remains confident in achieving a fourth consecutive year of record results.The higher turnover was attributable to a 5% increase in average in-park guest per capita and a 6% increase in out-of-park revenues. These were slightly offset by a less than 1% decrease in attendance to 8.7 million visitors mostly due to the sale of one of the group's water parks (Knott's Soak City – San Diego) at the end of 2012.

Despite this record net revenue over the first six months, Cedar Fair reported a larger net loss of $61.7 million versus a net loss of $28.8 million during the previous fiscal. The company explained that this was primarily attributable to the write off of loan fees (as a result of the company's refinancing) and an increase in foreign currency losses. From an operational perspective, operating costs and expenses through the first half were up 1% in line with the company's expectations.

Cedar Fair continued its strong performance through the Labor Day Weekend. As of September 1, year-to-date net revenues increased approximately 6%, to approximately $927 million compared with $876 million a year ago. The growth is still driven by a 5% increase in average in-park guest per capita spending and by a 7% increase in out-of-park revenues. Excluding Knott's Soak City – San Diego, attendance increased by 1% to 19.3 million visits.

"We are pleased with our strong performance across all aspects of our business," said Matt Ouimet, Cedar Fair's president and chief executive officer. "Our continued focus on providing our guests with the 'Best Day of Summer' experience each and every time they visit our parks has led to increases in attendance and average in-park guest per capita spending, as well as higher revenues at our resort properties.”

We continue to see guests respond favorably to our long-term 'FUNforward' growth initiatives which have helped to increase revenues across all aspects of our business. We know that delivering a great guest experience to every guest, every time they visit is critical to the success," noted Matt Ouimet. "While new rides, attractions and shows are important elements, the guest experience is largely defined by the quality of service our employees provide. I am very proud of our employees as they work diligently to serve our guests in a manner consistent with our cornerstones of Safety, Service, Courtesy, Cleanliness and Integrity.”

One of the highlights of the 2013 investment plan of  Cedar Fair is the B&M winged roller coaster GateKeeper opened at Cedar Fair.Cedar Fair underlined that record attendance and guest per capita spending were driven by the positive guest response to the new ride offering, including the record-breaking winged roller coaster 'GateKeeper' at Cedar Point the new 'Boardwalk' themed area at Knott's Bery Farm, the wooden coaster 'Gold Striker' at California's Great America and the combination and expansion of the Oceans of Fun water park with Worlds of Fun. "Our strong capital line-up, coupled with the second year of our 'Thrills Connect' marketing campaign and new e-commerce platform, have resulted in record season pass sales for our 2013 operating season," added Matt Ouimet. "We have also experienced steady growth in group sales this year, as we continue to add value to our offerings, improve catering facilities and have the second-year benefit of an incentivized sales force.”

Cedar Fair remains confident in its ability to achieve a fourth consecutive year of record results and reaffirmed its full-year guidance of net revenues between $1.100 billion and $1.125 billion and Adjusted EBITDA (which management believes is a meaningful measure of the company's park-level operating results) $415 million and $425 million. Matt Ouimet concluded: "We believe the positive momentum we have created thus far will continue into our increasingly important fall season as our special award-wining Halloween events provide an exceptional value proposition for our guests.”

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All Articles(613 articles found)

NewsParcs to take an extended break read more

These past three years have been intense for NewsParcs. Our magazine, which has been dedicated to the global theme parks industry since 1998, underwent major changes to become one of the most appreciated magazines among many...

CORPORATE | NewsParcs - Published on January 28, 2014
IAAPA Attractions Expo 2013 debuts next week in Orlando read more

World theme park capital Orlando is about to welcome the global attractions industry for the 2013 edition of IAAPA Attractions Expo, the annual...

EVENT | IAAPA Attractions Expo - Published on November 10, 2013
Difficult season for Compagnie des Alpes' amusement parks read more

The Compagnie des Alpes leisure parks recorded disappointing financial results during fiscal year 2012/2013 which ended on September 30. The...

CORPORATE | Compagnie des Alpes - Published on November 10, 2013
Theme Park Supplier's News of the Week #12 read more

Our Theme Park Supplier's News of the Week is a round-up of the latest news relative to companies supplying the theme park industry around the world.  This weekly report covers topics such as corporate announcements, financial ...

NEW | Roundup of News - Published on October 21, 2013
Success for the 33th symposium and trade show of the World Waterpark Association read more

The World Waterpark Association (WWA), the global leading water-leisure trade association, has made a positive assessment of its 33th annual...

EVENT | World Waterpark Association - Published on October 21, 2013
Disney to introduce first major Marvel attraction at Hong Kong Disneyland in 2016 read more

When The Walt Disney Company acquired Marvel Entertainment in 2009, its intention was to strengthen its position as a leading global provider...

NEW | Hong Kong Disneyland Resort - Published on October 13, 2013
Theme Park Supplier's News of the Week #11 read more

The NewsParcs' Theme Park Supplier's News of the Week is a round-up of the latest news relative to companies supplying the theme park industry around the world.  This weekly report covers topics such as corporate announcements, ...

NEW | Roundup of News - Published on October 13, 2013
Theme Park Industry News Roundup – Issue #6 read more

Our Industry Roundup is a summary of the latest major news related to the theme park industry worldwide. We report news specifically on operators, owners, trade associations and related organizations, including trends, attendance...

NEW | Roundup of News - Published on October 13, 2013
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