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Can Kings Island Survive The recession?


Racerrider
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well i like that everyone is optimistic, but i really didn't expect so many people to think we will survive by a long shot, i don't know if anyone on here lives in the immediate dayton area, because things are really turning bad in West Carollton City and Moraine

And that's why I left last month. The place I lived had a mugging, and my car was hit twice. I didnt feel safe where I lived, plus what is there to stay for? I sold my house for the same reason.

I dont think anyone realizes how bad it is in dayton. As for the current economy, I agree with Terpy-I dont remember it being this bad then. I'm just gonna sit tight and wait it out-and when things get bad here, I'll move again.

weird, last year my fathers car was attacked, and i live in an upper-class neighborhood where houses normaly go for more than half-a-million and HOA fees are about $750. things truely are getting bad

It wasnt like that when I first moved to that place..and I was right by the association building-mostly kids racing in the lot, but we did have some suspicious folks walking around. But with frickers being burned down, gm closed, and everything else, its gonna get worse before it gets better.

The first time my car get hit, my neighbor got in a shouting match with the offender and told him to stay put, but by the time I got out there he was gone.

wow thats horrible, was it in the moraine area?

Surprisingly, it was the 'burg. Just goes to show no one is immune when times are bad. I left dayton just in time..my old job location is preparing for a round of layoffs in about 2 weeks...

did you work at the old delco plant on Dorothy Lane near Stroop where tenico took over, i heard the place is gonna be history within a few months....

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No..my grandfather was an auto worker decades ago. I applied in 1995 to moraine, but didn't get in. Glad I didn't now.

you oughta be........even toyota is laying off now after their takeover of the auto market. My father is currently the VP of inteva products LLC, part of renco, who bought most of the delphi plants, and he is saying that now that all of the auto makers are telling them to stop making parts, he's going to have to shut out some vendors like AKSteel and Worthington Industries and possibly lay off inteva workers. The part that scares me is he goes to Detroit once a month, and he says peopl layed off by GM, Chrysler, Ford, and Delphi up there are violently (well, it is Detroit) boycotting Toyotas by slashing tires, breaking headlights, sideswiping, breaking windsheilds, and even vandalizing toyota dealerships.

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I don't think that KI will be big profit king that it has always been, but I don't think that they are in real danger of going under. Diamondback, even tho expensive to build, will be a fabulous draw for KI. There is really no park with the rides, amusements and food within less than 4 hrs from Cincinnati. I think that park management will have to be very frugile about pricing and expenses. Even in bad times, a 10% across the board on food and beverage might not be such a bad idea. Yes, that Coke from a machine will be $2.25 instead of $2.50. But, people will think they are getting an outstanding bargain and in the long run buy 3 Cokes instead of 2. Saved $0.50 but wound up spending an extra $1.75. People don't look at total expenditure in the long haul, like at an amusement park. They analyze cost on spur of the moment.

Shows may be cut back, but overall I believe that KI will still be profitable for the year. Not as in past years, but still will make money.

^_^

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I seriously doubt that. There comes a point where people stop nearly all not totally necessary travel. And for all but those who work there, a trip to Kings Island is NOT necessary.

And, if that happens, travel for those that even work becomes obviously unnecessary! That would be an even bigger problem!

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Yep, living closer to the park helps employees greatly. The other drastic effect $5 gas would have on the park is it would make it very difficult to find employees who could afford to get there...though the park would doubtless need far fewer employees, as there would be far fewer customers to serve and to pay the park's expenses, which would then have to be drastically reduced.

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  • 2 weeks later...

This is a time when people need to have distractions in their lives that help them to forget about the real world out there....temporarily. It is crucial to good health that people regardless of age take some time to simply enjoy themselves. You know, drop the stress level down a bit. This is a big part of the reason why I feel that Kings Island will be fine. This is just a shot in the dark guess, but I am ( guessing ) that season pass holders will probably make more trips to the park this year, if for no other reason than the fact that the trip is already paid for, and avoiding paying for something else. And chances are that they will purchase food, play games, purchase souvenirs, or bring a friend who may need to pay for an admission ticket each and every time that they come to the park.

And I am sure that the park will adjust to the changing conditions. Just let evolution take it's course.

I can't speak for park representatives, but I would offer discounts on ticket prices. Lower food, and game costs. I would monitor the water park very closely, and if attendance is way down ( changing from day to day ) I would close the water park early to help cut costs. If Cedar Fair brings in special events like they did last year, attendance will likely go up on those days. I would reintroduce bring a friend free days, and finally I would offer more discounts on merchandise, including giving associates a larger discount. After all, selling discounted merchandise ( not too low ) is better than not selling any merchandise. I would even go as far as discounting most if not all food stands to associates. I don't know about anyone else, but I would have been more willing to spend money on associate discounted food throughout the park, than having to purchase it at BackLot Cafe ( oscars ).

Sorry if I went a bit off topic, and for the length.

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Honestly, an amusement park like Kings Island is going to survive just fine. It's not really a destination park and most of it's visitors are pass holders. I honestly wouldn't be surprised to see pass sales go up as people around the city look for a good alternative to more expensive amusements in the area.

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I really believe that KI is in a position to weather the economic storm better than most parks. It has a great pull with a huge number of people who come back year after year, and does not have to rely upon pure destination visitors as teenageninja mentioned. I think it will have a bit of a dropoff, but I don't think it is anywhere near the risk of Six Flags or certain other regional parks that don't have the same affection built up for them as does KI. Certainly, the Diamondback auction shows there are people and companies that are excited about the park, the coaster and the opportunity to help a great charity (which gives KI positive vibes as well).

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Terp makes a very important point. KI and CF are not the same entities and CF's current debt load is much more of a concern than KI's economic stability. I can not imagine that KI will go down. As has been said, It's a local park with huge drawing power and in times of economic need and stress people need a release a chance to get away and forget about their problems. I have no worries when I;mn at a park and for my money, I couldn't ask for more! I cancelled my vacations for this year but I"m buying my first platinumn pass and planning a couple of groups trips to KI also.

If your worried and care about these parks, help out and bring as people to them as you can. I for one feel extremely lucky to have 2 amazing seasonal parks in the midwest. If we help them weather this recession, CF will treat us to things beyond our wildest dreams, like they always have.

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  • 3 weeks later...

The economy is very, very bad. I am livinf proof as 14 months after my layoff with a severance package, I've get to get a full-time job offer - and I have an MBA and 10 years of professional experience.

That being said, I still survive off temp jobs and hope to find a full-time job soon - and I think that KI will make a LOT less money this year, but will survive.

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The park almost certainly will survive...under whose ownership and management is the question. There can be no assurance of Cedar Fair's longterm ownership of Kings Island, or of anything else, for that matter. When brokerage firms, banks and publications in the business of touting stock start ranking your stock as "sell," the caution light is blinking brightly.

Moreover, FUN's analogous competitor, SIX, is in dire trouble. If it goes down for the count, the news may not be good for Cedar Fair. They are not really competitors, for the most part.

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  • 5 months later...

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