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Cedar Fair showing strong results through Labor Day


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The article says:

"For the 10-weeks ended Sept. 5, 2021, preliminary net revenues totaled $645 million, a $3 million increase from $642 million during the comparable 10-week period in 2019. The year-over-year growth was driven by a 25%, or $12.73, increase in in-park per capita spending to $62.81, and a $3 million, or 4%, increase in out-of-park revenues to $71 million. These increases were offset in part by a decrease in attendance of 2.4 million visits, or 20%, largely due to 58 fewer operating days in the period"

So an increase in revenue over pre-pandemic numbers despite season passes being rolled over and good for this year and despite a claimed 20% less attendance over the same period pre-pandemic....would be interesting to hear if the 58 fewer operating days resulted in offsetting the increase labor costs...

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19 minutes ago, disco2000 said:

The article says:

"For the 10-weeks ended Sept. 5, 2021, preliminary net revenues totaled $645 million, a $3 million increase from $642 million during the comparable 10-week period in 2019. The year-over-year growth was driven by a 25%, or $12.73, increase in in-park per capita spending to $62.81, and a $3 million, or 4%, increase in out-of-park revenues to $71 million. These increases were offset in part by a decrease in attendance of 2.4 million visits, or 20%, largely due to 58 fewer operating days in the period"

So an increase in revenue over pre-pandemic numbers despite season passes being rolled over and good for this year and despite a claimed 20% less attendance over the same period pre-pandemic....would be interesting to hear if the 58 fewer operating days resulted in offsetting the increase labor costs...

The passes being rolled over probably doesn’t have a ton to do with the revenue for this period. If I recall correctly, season passes usually weren’t for sale in July and and early August in 2019. Also, passes have now gone on sale for 2022 with those sales being strong, so the purchase of new passes is being counted for this year.

There was likely a reduction in the number of operating days because some of the smaller parks were only open five days a week, so that was probably a big factor. I don’t know if any other parks did this, but Kings Island also cut Friday nights when they went weekend only operations. This wasn’t due to the pandemic, through, because these days were cut when Kings Island first released their 2020 calendar.

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18 hours ago, FUN&ONLY! said:

The passes being rolled over probably doesn’t have a ton to do with the revenue for this period. If I recall correctly, season passes usually weren’t for sale in July and and early August in 2019. Also, passes have now gone on sale for 2022 with those sales being strong, so the purchase of new passes is being counted for this year.

There was likely a reduction in the number of operating days because some of the smaller parks were only open five days a week, so that was probably a big factor. I don’t know if any other parks did this, but Kings Island also cut Friday nights when they went weekend only operations. This wasn’t due to the pandemic, through, because these days were cut when Kings Island first released their 2020 calendar.

1)Passes rolled over and associated add ons on those passes are having revenue being claimed based on operating days.  There are also unique cases, ie...Wonderland extended 2020 bought passes thru Labor Day 2022, they will be claiming for example a $100 Gold Pass revenue from Q3 2021 thru Labor Day 2022.  Knotts extended their 2020 bought passes thru May 2022.

2)2022 Season Passes are not counted in this year or in the numbers released thru Labor Day.  2022 passes are deferred revenue till 2022 & they are claimed in 2022 based on operating days per quarter for the park.  For Instance Knotts which is year round would claim pass revenue differently than a park like CP that is closed all of Q1.

3)Operating days in the period were 58 days lower than 2019 by comparison primarily from the small parks Dorney, MIA, VF, WOF being closed 2 days per week

 

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It will be interesting to hear of the results after Columbus Day/ Halloween events.

Columbus Day weekend at CP is typically one of the busiest, if not the busiest, of the year- weather pending.....  Will the renewed concerns of the pandemic variants effect patronage negatively?

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The Halloween numbers are packed into Q4 & Winterfest, that has been expanding.  CF gives comments like they are some of the busiest days, but doesn't break down the October/Halloween segment with a financial update of any kind mid quarter. like they do for June thru July 4th & July thru Labor Day.

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