KIBOB Posted January 23, 2009 Share Posted January 23, 2009 Hey, this has been bugging me for a while, but do any of you think that the economic recession might hit KI hard this summer? Cedar Fair seems to be doing very well with continually rising stocks (which i dont understand since its the offseason a.k.a. no visitors ) but what about in the summer, do you think that it might hit then? Quote Link to comment Share on other sites More sharing options...
UnrealNightmare Posted January 23, 2009 Share Posted January 23, 2009 Isn't Knott's a year round park. Not just seasonal so they are picking up some money there and they probably have there other sources. I'm thinking season pass sales. http://www.cedarfair.com/ Quote Link to comment Share on other sites More sharing options...
BoddaH1994 Posted January 23, 2009 Share Posted January 23, 2009 No - people are looking for value in their entertainment. You'll see a lot more season pass and buy one, get ones sales. You'll also see a lot more people participating in things such as the Backyard BBQ. Quote Link to comment Share on other sites More sharing options...
CoastersRZ Posted January 23, 2009 Share Posted January 23, 2009 Well, a few clarifying items. Technically, Cedar Fair units are down dramatically over a year or even two years ago. Today, they closed at $13.30. Yes, that is up slightly from where they were a few weeks/months ago, it is still a far cry from where they were. At one point in time, the units were trading near $30! Secondly, while Knott`s Berry Farm is a year round operation (as is Castaway Bay in Sandusky), that doesn`t mean that Cedar Fair is making money during the winter months. They have to pay all their administrative staffs, and full time staff during the winter months at ALL their parks. Additionally, the winter months is when they do yearly maintenance on all their rides, so there are expenses incurred there. That is why Cedar Fair typically logs a loss in the first quarter (January through March). Because with the exception of the year round operations, there is only one or two weekends at the end of the first quarter when other parks are open. Finally, the season pass sales are amortized over the entire year. In other words, if they sell 90% of their passes in the first quarter, they break it down to be 25% every quarter of the fiscal calendar. During the economic downturn, Cedar Fair could be well poised to weather the storm. They have parks near major metropolitan areas, that are within a days drive. The big destination theme parks like Disney are going to be hurt as less people want to spend money on long and expensive vacations. Families may cut out the Disney vacation, and opt to spend a day at Kings Island or other Cedar Fair park. If the Cedar Fair parks continue to offer value to the customers, then people will continue to visit the parks. However, depending how bad things get with the job market, eventually even Cedar Fair may start to see the economy impacting their bottom line. Quote Link to comment Share on other sites More sharing options...
BoddaH1994 Posted January 23, 2009 Share Posted January 23, 2009 Cedar Fair, does - and likely always will, show a net loss in winter months. It's true for Six Flags too. Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted January 23, 2009 Share Posted January 23, 2009 As more and more the gate is discounted, Cedar Fair is in danger of seeing per caps adversely affected as people resist the higher food, merchandise and game prices found in the parks. Already, attendance is doing well, but per capita spending is down. There comes a point that people will go to the parks, but either pack a lunch or leave the park to eat. Cedar Fair may have already reached that point. Quote Link to comment Share on other sites More sharing options...
jrstacy98 Posted January 23, 2009 Share Posted January 23, 2009 As more and more the gate is discounted, Cedar Fair is in danger of seeing per caps adversely affected as people resist the higher food, merchandise and game prices found in the parks. Already, attendance is doing well, but per capita spending is down. There comes a point that people will go to the parks, but either pack a lunch or leave the park to eat. Cedar Fair may have already reached that point. Is the gate discounted? I know there were some specials at different parks at different times, but at CP, they raised the Sr. day price from $15 to $20 during the '08 season. I was fully agreeing on food, we packed some, ate occaisonaly, but griped abut the food, and how if they lowered the price they'd sell so much more. Yet, as we kept going more and more through the Fall I started noticing the Food lines (this is in reference to CPoint), as we were leaving late on some Fri or Sat. nights, the food lines were 30 deep! If you're getting ready to leave, why would you buy such overpriced food, drive a mile or two and you can choose any fast food you want. Yet people were willingly pay extreme amounts for the food. I think we'll see much bigger attendance at KI and WoF, brand new exciting coasters, just like CanWonderland last year, great for advertising, people will want the experience. Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted January 23, 2009 Share Posted January 23, 2009 First, yes the gate has been greatly discounted...you could buy $24.95 tickets nearly everywhere early last summer...and that was a relatively new development. As to Cedar Point, I find the food choices outside the park after the park closes sorely wanting. I can actually see buying Chuck Wagon pizza from the park before leaving. Heaven knows it is far better than that slop that pizza place on the right after you leave the causeway dishes up. Yuck-a-doodle. Quote Link to comment Share on other sites More sharing options...
tigellinus Posted January 23, 2009 Share Posted January 23, 2009 ^^The Taco Bell on 250 is equally dreadful, but the BK has been pretty decent. As more and more the gate is discounted, Cedar Fair is in danger of seeing per caps adversely affected as people resist the higher food, merchandise and game prices found in the parks. Already, attendance is doing well, but per capita spending is down. There comes a point that people will go to the parks, but either pack a lunch or leave the park to eat. Cedar Fair may have already reached that point. Getting back on this 'point' (no pun really intended), could this be an example of the Cedar Point/Cedar Fair way prevailing? I mean, a lot of people I know (including myself) do not actually leave CP for lunch or dinner, opting instead to combine lunch and dinner at Famous Dave's (for example) and then bringing in some snacks as well. Now, excluding people packing a picnic, could you agrue that since the same people who are leaving KI to eat are also actually eating at CP (for convience since leaving CP is far more of a "production" than cruising to the Kings Mill McD's, for example) that scenario is skewing things for CF so they think what works at CP will work for KI as well? Quote Link to comment Share on other sites More sharing options...
RailRider Posted January 23, 2009 Share Posted January 23, 2009 Before that works at KI they need more choices and especially sit down options. No more Chik Fila or Subway, but unique places found inside the park. Wings sorely needs an overhaul and I think the Festhaus could use some TLC as well. Quote Link to comment Share on other sites More sharing options...
goofywdw Posted January 23, 2009 Share Posted January 23, 2009 Before that works at KI they need more choices and especially sit down options. No more Chik Fila or Subway, but unique places found inside the park. Wings sorely needs an overhaul and I think the Festhaus could use some TLC as well. Oh please some TLC for the Festhaus. I don't even know if you can call it that anymore with the western show in there. That place could look great if they fixed it up and put some better food in there. That chinese does smell good though walking through there on the way to break. Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted January 23, 2009 Share Posted January 23, 2009 Because Chinese food fits so well in a Fest Haus.... Seriously, Kings Island is in desperate need of one or more nice, tablecloth, sit down restaurants with a variety of menu options...a place to grab a bite to eat for breakfast would also be nice, provided guests could actually access it prior to the park's opening, that is... Quote Link to comment Share on other sites More sharing options...
74Gibson Posted January 24, 2009 Share Posted January 24, 2009 ^ agreed. I try to eat healthy so i typically pack a lunch but last year at CP we went into the sports bar by Raptor and had some pretty good food. I'd much rather have a nice sitdown meal, even if atmosphere is lacking, than mess with packing a lunch. Quote Link to comment Share on other sites More sharing options...
CedarPointer Posted January 24, 2009 Share Posted January 24, 2009 Because Chinese food fits so well in a Fest Haus.... Seriously, Kings Island is in desperate need of one or more nice, tablecloth, sit down restaurants with a variety of menu options...a place to grab a bite to eat for breakfast would also be nice, provided guests could actually access it prior to the park's opening, that is... I Recall a restaurant like that there at one point... (and yes, East of Chicago's pizza is nasty. The Cici's Pizza on Milan should be much better value, and I would expect the food to be better.) Quote Link to comment Share on other sites More sharing options...
clbehymer Posted January 24, 2009 Share Posted January 24, 2009 Last year on the press release day of Diamondback, I brought my son and little cousin with me to the park. I packed food for breakfast, lunch, and snack after leaving. We drank water in the park and went to the car for lunch. I think the whole trip cost me $20 for gas. As economical this option is, I really hated not being able to grab LaRosa's and Skyline while in the park. We don't have either one where we live. Granted the outside the park restaraunts for both are much better, atleast lately, but for me its part of the experience of going to Kings Island. When I was a kid visiting Kings Island, I didn't even know that they were chains that existed outside of the park. I just wish that I could get quality food for my money. Quote Link to comment Share on other sites More sharing options...
KIlover123 Posted January 24, 2009 Share Posted January 24, 2009 Seriously, Kings Island is in desperate need of one or more nice, tablecloth, sit down restaurants with a variety of menu options...a place to grab a bite to eat for breakfast would also be nice, provided guests could actually access it prior to the park's opening, that is... some people like breakfast for lunch and dinner. Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted January 24, 2009 Share Posted January 24, 2009 And yet others like lunch or dinner for breakfast. Be that as it may, there is virtually nowhere at Kings Island to get healthy and/or sustainable food before the park opens. Talk about missed opportunities. Even after the park does open, until 11 or so, there is still precious little... Quote Link to comment Share on other sites More sharing options...
kings_island~thrill is me! Posted January 28, 2009 Share Posted January 28, 2009 And yet others like lunch or dinner for breakfast. Be that as it may, there is virtually nowhere at Kings Island to get healthy and/or sustainable food before the park opens. Talk about missed opportunities. Even after the pard does open, until 11 or so, there is still precious little... Everytime i go to go Kings Island I eat Skyline for lunch and Larosas for dinner Quote Link to comment Share on other sites More sharing options...
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