KIBeast Posted March 8, 2008 Share Posted March 8, 2008 I really don't think attendance will suffer to greatly over the oil prices. I suppose logically it could but I doubt it. People will go regardless. That might be true if it weren't for the economy basically being in a recession. Quote Link to comment Share on other sites More sharing options...
Purplehaze Posted March 8, 2008 Share Posted March 8, 2008 Its like smoking. people always say when the price goes up they will quit, however most dont they will pay whatever it takes. Quote Link to comment Share on other sites More sharing options...
Cory Butcher Posted March 8, 2008 Share Posted March 8, 2008 If there is an exception (or two), it will be Disney, and perhaps Universal. People have a tendency to try to save the big luxuries, while giving up the small ones. I gotta agree. I am in Economics, and we call this a decision between "Superior" and "Inferior" goods. All things equal there are no good substitutes for Superior goods. Simply put a night at the movies is not like attending Disney, one could argue however that it is almost equal to attending a seasonal park. Its like smoking. people always say when the price goes up they will quit, however most dont they will pay whatever it takes. And it is known, from an ECO side, that cigarette use has a very inelastic demand. As price goes up quantity demanded goes down very little. Sorry for the lesson, but I just had to type all this, this board definitely can help one remember topics discussed in class! Quote Link to comment Share on other sites More sharing options...
KIBeast Posted March 8, 2008 Share Posted March 8, 2008 I don't see any relation of cigarettes to amusement parks. I think you'll be surprised in the end when people simply won't be able to afford to go, not only due to higher gas prices, but considerably less discretionary income to spend. Not to mention cigarettes involve physical and mental addiction whereas amusement parks are not an addiction. And I can pretty much guarantee that people will NOT be spending those tax rebate checks. Quote Link to comment Share on other sites More sharing options...
WooferBearATL Posted March 8, 2008 Share Posted March 8, 2008 Oh, I think folk are in for a rather rude awakening. We're already seeing the affects in the retail segment of the economy. It seems to be affecting families, right now, harder than people without families. But it's certain to affect most or all within time. Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted March 8, 2008 Author Share Posted March 8, 2008 Most of the posters here are too young to remember a real recession. I am not. There is a reason parks went through hard times in the late seventies, early eighties. We may be headed for similar times again. A visit to Kings Island quickly goes by the wayside when the choice is to buy gas or go to the park, to buy food or go to the park...or pay the mortgage or go to the park, or buy needed prescription drugs or go to the park. For some, that's already the choice. There's an old saying. A good economy is when you and I are working. A recession is when you lose your job. When I lose mine, it's a depression.... Quote Link to comment Share on other sites More sharing options...
Guest kwindshawne Posted March 8, 2008 Share Posted March 8, 2008 I don't see any relation of cigarettes to amusement parks. I think you'll be surprised in the end when people simply won't be able to afford to go, not only due to higher gas prices, but considerably less discretionary income to spend. Not to mention cigarettes involve physical and mental addiction whereas amusement parks are not an addiction. And I can pretty much guarantee that people will NOT be spending those tax rebate checks. My rebate check is going to bills, and the same holds true to everyone else I talk to....I dont need anything All it takes is one medical bill to ruin you-I am in that boat-I am surviving, but there is no discretionary money for anything else. I buy the necessities-a trip anywhere is out of the question, especially at 3.20/gallon plus increasing hotel costs, admissions, etc, and I agree that the parks are probably going to take a hit this year. One doc took me to collections for making payments, and I am still trying to recover from having to pay her in full-greedy *&^%$. Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted March 8, 2008 Author Share Posted March 8, 2008 A lot of people I know say they will use their rebate check to buy gasoline. Quote Link to comment Share on other sites More sharing options...
WooferBearATL Posted March 8, 2008 Share Posted March 8, 2008 Oh, I remember it very well. I see the tell tale signs. Some younger folk that are in the "Me" generation are in for a world of hurt when it comes down to buying the most recent fad or eating. Quote Link to comment Share on other sites More sharing options...
Guest kwindshawne Posted March 8, 2008 Share Posted March 8, 2008 Oh, I remember it very well. I see the tell tale signs. Some younger folk that are in the "Me" generation are in for a world of hurt when it comes down to buying the most recent fad or eating. Yes!! It amazes me people that drive suv's and dont care what gas costs-geez, I wouldn't know how to act with that luxury.... Although, those who have yet to worry about rent or otherwise, won't be affected that much except at the pump-I wouldn't want my entire check to go to gas though. It's going to be interesting for sure..... Quote Link to comment Share on other sites More sharing options...
KIBeast Posted March 8, 2008 Share Posted March 8, 2008 A related story. Oil Rally May Be Economy's Undoing Quote Link to comment Share on other sites More sharing options...
WooferBearATL Posted March 8, 2008 Share Posted March 8, 2008 Other Proof the Parks May see Attendance Issues: Job Losses Hotels Cut 4,000 Jobs Retail Cuts 34,000 Jobs Quote Link to comment Share on other sites More sharing options...
Guest kwindshawne Posted March 8, 2008 Share Posted March 8, 2008 I think we are going to be forced to telecommute, or find alternative sources. I miss my silverado-5 years ago it didn't make sense when all this started, and it definitely will not be an option now either. I still drive too much, but right now I have no choice-but I can tell you, that will change very soon. Quote Link to comment Share on other sites More sharing options...
WooferBearATL Posted March 8, 2008 Share Posted March 8, 2008 Yeah, my company is actually moving forward aggressively with telecommuting plans. Other than that, I get lots of motorcycle time. <G> Quote Link to comment Share on other sites More sharing options...
Guest kwindshawne Posted March 8, 2008 Share Posted March 8, 2008 My sister used to do medical transcribing from home-that doesn't sound too bad right now.... Quote Link to comment Share on other sites More sharing options...
Purplehaze Posted March 8, 2008 Share Posted March 8, 2008 I don't see any relation of cigarettes to amusement parks. I think you'll be surprised in the end when people simply won't be able to afford to go, not only due to higher gas prices, but considerably less discretionary income to spend. Not to mention cigarettes involve physical and mental addiction whereas amusement parks are not an addiction. And I can pretty much guarantee that people will NOT be spending those tax rebate checks. It does not have anything to do with one another, was just stating a general comment. Every year there is great talk of all this in all walks of life just not the Amusement park Industry. And with prices so high a lot of people will go to KI cause they cant afford a vacation. I would be intrested to see the stats over a one season how many guests were locals compared to other locations. People stress way to much over things they can not control, people need to live life at its fullest. As for the SUV's. I got rid of mine but not cause of gas prices. I now have a big F250 which only gets 12 miles to the gallon. No, I do not drive it often I drive a Sunfire or my Tauris. Quote Link to comment Share on other sites More sharing options...
KIBeast Posted March 8, 2008 Share Posted March 8, 2008 But, every year, we're not this close to a recession. Or, as most experts have been saying, we ARE in a recession, whether or not the government actually acknowledges this. From what I understand, KI relies heavily on locals.. Cedar Fair took a while to figure that one out, I guess because Cedar Point does not rely on the locals and season pass sales. They are more dependant on those who are interested in the package deals that keep them there for a few days. Quote Link to comment Share on other sites More sharing options...
WooferBearATL Posted March 8, 2008 Share Posted March 8, 2008 As has been said before, Kings Island does not depend as much on Season Passes as one may think. Season Pass holders do not spend a lot of money in the parks. Quote Link to comment Share on other sites More sharing options...
KIBeast Posted March 8, 2008 Share Posted March 8, 2008 As been said before by whom? I would like to see a link to back that claim up. I remember recently reading an article where Cedar Fair way underestimated how much Kings Island relies on season pass sales. Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted March 8, 2008 Author Share Posted March 8, 2008 It is my understanding that a higher percentage of patrons at Kings Island have season passes than in any other North American seasonal park....note that Cedar Fair greatly reduced the price of family pack season passes at the other former Paramount Parks recently, but made no such reduction at Kings Island.... Quote Link to comment Share on other sites More sharing options...
Purplehaze Posted March 8, 2008 Share Posted March 8, 2008 As has been said before, Kings Island does not depend as much on Season Passes as one may think. Season Pass holders do not spend a lot of money in the parks. I do not agree with ya in that wolfer. I would like to see a pie chart on that. I know I spend a ton there. Quote Link to comment Share on other sites More sharing options...
Guest kwindshawne Posted March 8, 2008 Share Posted March 8, 2008 Most of us don't spend much money at the park....I did when I was younger..... Quote Link to comment Share on other sites More sharing options...
italianchef Posted March 8, 2008 Share Posted March 8, 2008 The outrageous price of oil is bad, very bad for our economy. And yes, it will influence Kings Island as well as everyone else in this recession. Quote Link to comment Share on other sites More sharing options...
King Maple The Tree King Posted March 8, 2008 Share Posted March 8, 2008 The outrageous price of oil is bad, very bad for our economy. And yes, it will influence Kings Island as well as everyone else in this recession. Ya don't say. Quote Link to comment Share on other sites More sharing options...
WooferBearATL Posted March 8, 2008 Share Posted March 8, 2008 Well, can't find the reference right now. But how it's always been explained to me is that season passes at seasonal parks help a park with yearly start up. They add very little to the bottom line as those with season passes spend very little in the park and that even over multiple visits they do not average what a one time visitor would spend. Such is life, I'll continue to look for the source. Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted March 10, 2008 Author Share Posted March 10, 2008 Gasoline Price Spike Has Only Just Begun: http://money.cnn.com/2008/03/10/news/econo...sion=2008031014 ....Motorists should expect to pay upwards of $3.75 a gallon in the coming weeks as prices at the pump catch up with record crude, but relief may arrive by summer.... Quote Link to comment Share on other sites More sharing options...
Captain Picard Posted March 10, 2008 Share Posted March 10, 2008 If you take gas price today at 2.71 and just add tax you can see we have not seen it hit the pump yet. It's around .80 over when you add profits and tax to put it at 3.51. Quote Link to comment Share on other sites More sharing options...
Cory Butcher Posted March 11, 2008 Share Posted March 11, 2008 Gas next to my house is 3.39 a gallon for Regular...how depressing.. Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted March 11, 2008 Author Share Posted March 11, 2008 Gas next to my house is 3.39 a gallon for Regular...how depressing.. In a few weeks, that may well be a fond memory. . . Quote Link to comment Share on other sites More sharing options...
Guest kwindshawne Posted March 13, 2008 Share Posted March 13, 2008 I let my motorcycle permit expire-never got the license-may consider that again. As far as people not taking regular vacations and going to KI for their yearly vacation-I know a lot of people wont even be able to do that. My job right now has become part social worker-I spend alot of my day completing financial forms for people who have lost their jobs-and their health insurance-and then having been hit with a stroke or cancer. Over the past year and a half while the media was denying we were in a recession, I was seeing the beginnings of it. A lot of the people who poo pooed me before are now believing it-and it is more widespread than the media is still reporting. With that in mind, how do you think attendance at KI and other places is going to be? Its going to be a very rough year indeed. A final thought-spending will still be ok as long as folks have credit cards-when those are maxed, that is when the real pain will begin..... Quote Link to comment Share on other sites More sharing options...
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