January 7, 2001
Sandusky, OH -- Cedar Fair, L.P. a publicly traded partnership which owns and operates five amusement parks and four water parks, today announced that its parks entertained a record number of guests in 2000.
Richard L. Kinzel, president and chief executive officer, reported that for the entire 2000 season, combined attendance at the Partnership's nine properties totaled a record 11.7 million people, 4% above last year's 11.2 million and 2% over the previous record set in 1998.
Although we did not meet our expectations at each park, we are satisfied with the attendance results we were able to achieve in light of inconsistent weather during critical parts of the summer," said Kinzel. "For the entire 2000 season, combined attendance at our five amusement parks totaled 10.6 million, almost even with a year ago, and combined attendance at our four water parks nearly doubled to 1.2 million, with the two new California water parks accounting for the increase."
Cedar Fair's five amusement parks are Cedar Point, located on Lake Erie between Cleveland and Toledo; Knott's Berry Farm in Buena Park, California, near Los Angeles; Dorney Park & Wildwater Kingdom near Allentown, Pennsylvania; Valleyfair near Minneapolis/St. Paul; and Worlds of Fun in Kansas City, Missouri. The Partnership's water parks are located in Chula Vista, California, near San Diego, and next to Cedar Point, Knott's Berry Farm and Worlds of Fun. Cedar Fair also operates Knott's Camp Snoopy at the Mall of America in Bloomington, Minnesota under a management contract.
Commenting on the individual parks, Kinzel noted that attendance at both Cedar Point and Valleyfair finished the year ahead of 1999 on the successful debuts of new world-class thrill rides at each park. "At Cedar Point, the addition of Millennium Force led to a 4% increase in attendance to 3.4 million, and at Valleyfair attendance was up 6% to 1.2 million on the strong pull of Power Tower," added Kinzel. "We were also pleased with attendance at Knott's Berry Farm, which finished the year at 3.7 million, 2% behind last year and in line with our expectations. Meanwhile, weather in Kansas City was a significant factor for a second straight year and attendance at Worlds of Fun remained relatively flat with 1999 at 1.0 million, which was somewhat below our expectations. Our fifth park, Dorney Park, had the worst overall weather in 2000, and the park was unable to keep up with 1999's record pace, finishing the year with attendance of 1.3 million, down 11%."
Kinzel concluded by noting that the Partnership plans to release its full yearend earnings in early February.