Leland Wykoff

This is a very interesting read about the Disney and WED designer Rolly Crump--creator of Its A Small World exterior among other Disneyland features--and his view of the modern "Stroller park" of today. This story touches on design integrity, place making, visionary leadership, courage and convictions, along with insights into how some of the famous and lasting Disneyland features came to be. Worth the read. Enjoy! http://www.latimes.com/entertainment/herocomplex/la-et-ms-rolly-crump-20180907-story.html#nws=mcnewsletter

Cedar Fair parks are gaining quite the reputation for environmental issues. A few years ago it was Michigan's Adventure running afoul of sewage treatment permits, now Worlds of Fun and Oceans of Fun are having similar problems. This could become a public relations disaster if management fails to respond to address the underlying pollution and permit violations: http://amp.kansascity.com/news/local/article213690094.html

The Orlando Sentinel newspaper chimes in on the departure and management changes at SeaWorld: http://www.orlandosentinel.com/business/tourism/os-seaworld-joel-manby-follow-20180302-story.html

As far as news analysis goes, this whale from today's Washington Post is a killer. Joel Manby must be pining for the quite relatively sleepy days he enjoyed while CEO of Herschend Family Entertainment. This analysis places a harpoon directly into the thin skin of SeaWorld and the sudden departure of Manby and his troubled leadership: https://www.washingtonpost.com/news/animalia/wp/2018/02/27/seaworlds-ceo-promised-to-end-the-blackfish-fallout-he-didnt-and-just-resigned/?utm_term=.92489e07dc7a

This mornings news of Joel Manby's abrupt separation from SeaWorld came as a surprise to almost as many folks as his hasty departure from Herschend Family Entertainment to take over the reins as SeaWorld CEO three years ago. FUN shareholders can rest easy. Former Cedar Fair CEO Matt Ouimet is locked up in a rather long non-compete agreement under his employment agreement and would not be available for employment at SeaWorld: https://content.edgar-online.com/ExternalLink/EDGAR/0001193125-17-304136.html?hash=cde9ed3333c0e16b104885df518e384245ffe74fe7d2793ab0066ba33398a2ad&dest=D466011DEX102_HTM#D466011DEX102_HTM However, Matt Ouimet could very well play a central role in the future of SeaWorld and its various assets. When Ouimet stepped down as FUN CEO it was reported he would take on special projects, some of which would be related to seeking opportunities for Cedar Fair growth and acquisitions, including evaluating parks to join the FUN Family. This afternoon I contacted Cedar Fair to inquire a little deeper into Ouimet's non-compete and employment agreement, particularly his specific duties. A Cedar Fair official who could address my questions was reported to be traveling and unavailable at this time. I am expecting a call back at some unspecified future time. Ouimet is being well compensated in his new role. Cedar Fair must be expecting big returns from his efforts. Things could be getting FUN soon.

Dolly Parton has said, in an issued statement, it is her desire to expand the Stampede concept into other cities and markets. Orlando once had a Dixie Stampede until they suddenly sold the property to outlet mall developers. Perhaps other markets may mean Northern cities where the Dixie moniker would have limited sales value. Or perhaps Parton has designs on expanding into locations adjacent to other amusement parks not necessarily associated with Herschend Entertainment. Current SeaWorld CEO Joel Mamby (former CEO of Herschend Entertainment) has expressed a desire and business plan to monetize underutilized land at SeaWorld locations. Cedar Fair has likewise embarked upon an effort to develop businesses beyond the gate of there parks. The confederate flags were removed from the signage, promotions, commercials, and show productions many years ago. It has long become "Dixie" in name only. The flag images had been downplayed and removed and the show began to take on Western characteristics such as Buffaloes, wagon trains, and monument valley type backdrops. Gone were the ole white plantation sets of earlier years productions. The removal of the "Dixie" name has caused quite a stir on social media particularly in the East Tennessee region. It seems to be a major point of pride for many people. Which is a bit odd given most of the East Tennessee region, and especially Sevier County (Pigeon Forge, Gatlinburg, Sevierville), were predominantly on the side of the North in that unpleasant incident. The Rebel flag was a rarity in these here parts until about the 1960's.

A few items to note in this report. It is a very small hotel at only 130 rooms, and this is perplexing. Why is Cedar Fair not planning a larger facility? The Spring Hill Suits flag makes sense in this regard, as a year round hotel they will have stronger booking in the off seasons with a nationally flagged hotel chain and the strong reservations system such a franchise offers. The report also indicates a newly aligned private road will lead into the property. This suggests an easy sight and drive line to the hotel from the interstate. That the Spring Hill Suits building is identified as being located in North Carolina offers some tantalizing clues to its location and a strategy to maximize public support for this project from North Carolina along with minimizing the taxes associated with a large investment in South Carolina. Likely the parking lots, pool, and other facilities will be on the South Carolina side of the parcel which the report indicates straddles the state lines. The hotel may be built in such a way as to allow additional buildings or towers to join the complex as room revenues and occupancy grow. Much like how Breakers is growing with the addition of a new tower once occupancy and demand were established by the smaller room count of the renovated Breakers (recall Cedar Fair characterized that project as a "refreshment" rather than a rebuild). Marriott/Starwood has many brands and the final flag may not actually be settled upon until much later in the process. Carowinds may well determine another brand in the Marriott/Starwood stable will suite them better from an average daily revenue standpoint. At only 130 rooms, each head in a bed must generate significant revenues to meet the stringent return on investment demanded by Cedar Fair. The new CEO and other talent brought on board will be looking to expand at a more rapid pace the development of out of park revenues. Be watching for FUN to monetize adjacent properties to bring new revenues whilst leveraging the marking dollars, efforts, and know-how which brings folks on park. Second gate properties such as museum attractions, dinner shows, and the like are no doubt in the planning process. The just departed CEO Matt Ouimet was a hotel executive prior to his arrival at Cedar Fair. For whom one may wonder? Starwood Hotels and Resorts.

Excellent story: http://www.knoxnews.com/story/news/local/tennessee/2016/12/18/questions-linger-wildfire-alerts/95144318/ Much of the carnage of the Firestorm could have been moderated if effective Fire-Wise building codes had been in place along with Woodland Urban Interface Landscaping Rules. The Sevier County area has been very resistant to updating building codes to reflect modern safety concerns. We now see the costly results of such inaction and the effects of this Firestorm will linger for years.

Thank you, and hats off to, The Interpreter, for posting this thread. Many, many, lessons came from the Cedar Fair Merger Debacle. This battle literally changed the Merger and Acquisition world, players, and processes. The role social media played in enabling the stunning defeat of the abusive merger attempt and attending corporate governance improvements is quite difficult to accurately quantify. However, it remains beyond question the InfoBahn assisted immeasurably in organizing, educating, and fostering investor actions at every turn. Investors were enabled to grasp complex nuances of finance, governance, SEC filings, and motivations of the power players (which were not always apparent as great care had been taken to obscure and camouflage those conflicts and interests) while having meaningful conversations. Not being talked at by the company and hired public relations hacks; rather having key conversations, exchanges, and consultations within the investment communities was the critical element. By leveraging active knowledge bases--including KICentral--and other channels many investors could be reached and engaged with modest expense and a depth of targeting seldom ever possible previously. Small unitholders, regulators, institutional unitholders, and families holding significant shares, such as the Knott's, could be engaged. Traditional media also played important roles by broadcasting to wider audiences the non-sound-bite issues. We can be pleased flat and social media players came to the table and joined hands in ways it would have been difficult to foresee. So, again, I thank The Interpreter along with the many other active participants, commenters, readers, and visitors at KICentral.com. as well as comment sections of newspapers and blogs. Unitholders likely would have failed to prevail in the battles to reform and address corporate governance issues at Cedar Fair without you, your platforms, and the active participation broader social media enabled. I suggest this new thread could be improved by linking to the full archive of the original thread for those who may desire to engage in deeper study and analysis. Would you be so kind as to provide such a link?

View the new "theatrical" analyst presentation from CEO Joel Manby and SeaWorld Entertainment: http://www.seaworldinvestors.com/events-and-presentations/event-details/2015/Investor-Day-Webcast/default.aspx They announce plans to partner and add hotel space at undeveloped space at SeaWorld San Diego. This may not work out well. The Dollywood's DreamMore Resort developed under Mamby's leadership is truly a stunning disaster; poor room design, pitifully small outdoor pool which misses the mark of resort expectations, food and beverage offerings which are far below standards, and a management team and workforce which are not capable of delivering resort services, all combine to dash the guest experience into disappointment.

Also see news coverage from the San Diego Union Tribune for additional details: http://www.sandiegouniontribune.com/news/2015/nov/09/seaworld-san-diego-phase-out-killer-whale-show/

The New York Times reports: http://www.nytimes.com/2015/11/10/business/seaworld-san-diego-killer-whales-shamu-show.html?ref=business No doubt this is a concession to the California Coastal Commission ruling earlier which would restrict breeding at the Park. SeaWorld will thus free up substantial capital funds for other improvements at the park.

Please also see issues alleged at Worlds of Fun: http://www.KICentral.com/forums/index.php/topic/31465-worlds-of-fun-ocean-of-trouble/

Worlds of Fun parent Cedar Fair is being sued by an environmental group alleging various violations in the treatment and discharge of waste water: http://www.bizjournals.com/kansascity/news/2015/09/21/mce-worlds-of-fun-enviornmental-lawsuit.html Charges are of "significant and persistent violations" encompassing 58 instances over 60 months. No doubt the townships in Michigan will look at the activity in these allegations as they continue to pressure Michigan's Adventure to tap onto the public sewer.

A heart warming story of a nun who worked for Walter Knott as a teenager: http://www.ocregister.com/articles/knott-682925-berry-florence.html

The Townships desire to impose excessive cost structure of sewage treatment plant upon Michigan's Adventure. Privately run sewer treatment systems often exceed the clean water standards of the corresponding public systems. This is nothing more than an attempt to impose a tax upon Michigan's Adventure in support of political patronage jobs. Look under the hood of the public sewer system and one is likely to find excessive employee counts and overcompensation provided to those with political connections. Here in the South we refer to it as the CBEP. Cousin-Brother Employment Project.

LA Times sheds some light: "It now seems clear that a Six Flags contract with Rocky Mountain is likely preventing Knott's parent Cedar Fair from working with the coaster company." http://www.latimes.com/travel/themeparks/la-trb-joker-coaster-six-flags-discovery-kingdom-20150903-story.html

More updates: http://www.auroraadvocate.com/news%20local/2015/09/02/meijer-store-closer-to-bainbridge-deal Seems Meijer backed down from some of the lofty pie-in-the-sky demands. It is called negotiation folks.

Is this hysterical article from The Onion a metaphor for SeaWorld? http://www.theonion.com/article/new-seaworld-show-just-elephant-drowning-large-tan-51139

Insightful and excellent review of the social texture and fabric that is Dollywood, and by extension, many theme parks. Well worth the read and consideration: http://curbed.com/archives/2015/08/06/how-dolly-partons-childhood-home-became-the-dollywood-empire.php?utm_campaign=issue-39030&utm_medium=email&utm_source=Curbed+Atlanta

Here is another article with a bit of a different perspective on the Meijer's list of demands: http://www.auroraadvocate.com/news%20local/2015/07/29/officials-object-to-meijer-s-proposed-list-of-demands-for-geauga-lake-property-in-aurora

Former redevelopment of property at Geauga Lake is getting contentious. Cedar Fair is reported to be threatening legal action to force township to accept Meijer demands to limit uses of balance of Geauga property: http://www.cleveland.com/west-geauga/index.ssf/2015/07/meijer_submits_long_list_of_es.html

Very interesting read concerning the pricing strategy of resort destination parks such as Disney: http://www.tampabay.com/news/business/tourism/how-theme-parks-like-disney-world-have-left-the-middle-class-behind/2233577

More details: Dolly Parton entities also, I have been told by reliable sources, purchased the Regency Inn property located on the Parkway in front of the Lumberjack Feud parking lot. The investors who owned the Lumberjack Feud also are/were involved in The Island development located behind and across the river from the Lumberjack Feud. Chop, chop. The Regency Inn website is gone. For a glimpse at that property please see: http://www.booking.com/hotel/us/regency-inn-pigeon-forge.html Feud parking lot use was of interest to The Island development. This sale suggests the LJF/Island investors may be beginning to sour on The Island project, or investment, since it means the loss of potential future parking lot use. Loosing the chance to acquire the Regency Inn location likely played into what looks more and more like a squeeze play. Growth and expansion potential of LJF was limited once the Regency Inn property was off the table. Lack of adequate frontage visibility hampered the Feud's marketing efforts as well. The future options were splintering before their eyes. Possible redevelopment of the Regency Inn site could further restrict or limit visibility of The Island development. Like felling timber. The Lumberjack Feud sale appears to have materialized quickly. It was a total shock and surprise to most employees, including long term employees and some members of the management team. Some employees were unaware of the sale as late as this evening. Investor/owners had been in Pigeon Forge for only the last two weeks, presumably negotiating the exit deal. Dixie Stampede had been quietly floating the idea of opening a second show, Pirates Voyage, in Pigeon Forge. This would have been a competitive threat to LJF given the marketing juggernaut of a Dollywood/Dixie/Pirates Voyage combo ticket package. It is unclear if LJF will continue to operate as the Feud following the 2015 season. It is possible the remodel may be conversion to Pirates Voyage. Dolly Parton investment vehicle running Dixie Stampede could also partner with Herschend Family Entertainment (parent company to Dollywood) to bring the Harlem Globetrotters franchise, which they acquired approximately in October of 2013, to a dinner show arena in the LJF location. News could get worse for Fee Hedrick Entertainment (operator of Pigeon Forge Theaters including Comedy Barn and Hatfield and McCoy Dinner Show) if Parton plans to move forward with plans for an additional dinner show theater resulting in three properties under the Dollywood/Dixie umbrella. They would then be able to "own" the evening time block of visitors for the duration of the average stay in Pigeon Forge. Add to the mix the soon to open DreamMore Resort at Dollywood and the desire to sell multi-event tickets for a bigger picture of the competitive threat. The possible expansion of dinner theater options could also have an adverse effect on restaurant sales. That would be ripping a page right out of the Fee Hedrick playbook. Ouch. No doubt things will get more interesting in the coming days. Timber!

A Dolly Parton company has purchased the Lumberjack Feud Dinner Theater and Show in Pigeon Forge Tennessee. The Parton vehicle also operates numerous Dixie Stampeed Dinner Shows and Pirates Voyage Dinner Attraction in various locations. The Pigeon Forge market is tough for independent single theater operators due to the high cost of promotion and marketing. The dominate player/operator of Pigeon Forge theaters, Fee Hedrick Entertainment, will take this news hard. The ground has shifted. With Parton moving to consolidate and co-market with Dollywood and Dixie Stampede, Fee Hedrick will find it more difficult to market and book folks into the various brands they own (Comedy Barn, Smoky Mountain Opry, Hatfield and McCoy Dinner Show, etc.). Fee Hedrick has focused on capturing the evening hours entertainment of Pigeon Forge visitors. They promoted combo tickets and multi-show sales to capture/dominate the evenings of visitors. Now Parton will be situated to effectively market head to Hedrick. Cedar Fair should be looking at second-gate evening opportunities such as dinner theaters and other attractions. http://wate.com/2015/06/12/dolly-parton-buys-pigeon-forge-lumberjack-feud-dinner-theater/