August 1, 2002
Sandusky, OH -- Cedar Fair, L.P. (FUN), a publicly traded partnership which owns and operates six amusement parks and five water parks, today reported that combined attendance at its properties for the month of July increased 3% from a year ago. Over the same period, average in-park guest per capita spending was down 2%, in part due to the overall mix of attendance among the parks.
"Weather during the month of July continued to be in our favor and attendance at our parks was reasonably good," said Dick Kinzel, president and chief executive officer. "For the month, attendance at our largest park, Cedar Point, increased 3% and the combined attendance at our five water parks increased by more than 15%. Hotel revenues at Cedar Point were also very strong."
Kinzel continued by noting that combined attendance through the first seven months of the year was up 4% from 2001, due in part to the inclusion of the Partnership's two newest properties, Michigan's Adventure and Knott's Soak City - Palm Springs, both of which were acquired at the end of May last year. "Excluding the impact of the two acquisitions, combined attendance was up 3% through the first seven months of the year and combined guest per capita spending was down 1%," he said. "Although guest spending levels still remain somewhat soft, we believe that our combined 2002 attendance and revenue goals are still realistic and achievable based on our attendance and hotel occupancy trends."
For more information visit www.cedarfair.com.