January 10, 2008
Sandusky, OH -- Attendance and in-park per capita spending increased at Cedar Fair parks in 2007. The regional park operator reported that the combined attendance at its 18 parks totaled 22.1 million guests compared to 19.3 million in 2006. During the same period, Cedar Fair reported that that preliminary average in-park guest per capita spending increased 5% to $40.45 compared with $38.71 in 2006.
Dick Kinzel, chairman, president and chief executive officer, noted that the 2006 figures include results from the Paramount Parks since their acquisition from CBS Corporation on June 30, 2006, while results for 2007 include a full-year of operations.
"We experienced solid increases in average in-park guest per capita spending at each of our parks," said Kinzel. "On a regional basis, our northern region parks entertained approximately 12.4 million guests compared with 10.7 million guests in 2006, while our southern region parks entertained 4.1 million guests compared with 3.3 million guests a year ago, and our western region parks hosted 5.6 million guests versus 5.3 million guests in 2006."
"Overall, we are pleased with our 2007 results as we end a transformational year for the company," said Kinzel. "This was our first full year of owning and operating the newly acquired parks and we have learned a great deal about our new customers during this time. With our record-high $88 million in planned capital expenditures for 2008 along with the introduction of exciting new marketing promotions to capture our guests' attention, we are confident 2008 will be another successful year for the company."
Cedar Fair stated they will issue a news release and host a conference call with analysts on Thursday, February 7, 2008 to discuss the 2007 fourth quarter and full year earnings results for the company.
Cedar Fair Entertainment is a publicly traded partnership headquartered in Sandusky, Ohio and one of the largest regional amusement-resort operators in the world. The partnership owns and operates 11 amusement parks, six outdoor water parks, one indoor water park and five hotels.
For more information, see Cedar Fair.
What did you think? Be the first to Add Your Comments