FUN Reports Record Q3 Results

[BoddaH1994]

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SANDUSKY, Ohio, Nov. 2, 2017 /PRNewswire/ -- Cedar Fair Entertainment Company (NYSE: FUN), a leader in regional amusement parks, water parks and active entertainment, today reported results for the third quarter ended September 24, 2017. It also reported attendance and guest spending trends through October, announced an increase in its quarterly cash distribution and provided an update on its anticipated long-term growth rates going forward.

https://pointbuzz.com/News/Story/3215

Interesting point:

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It was the food and beverage category that led the increase in pure in-park spending, driven by the continued growth of the all-season dining and beverage programs.

The question is how long this growth can be sustained with long lines, apathetic employees, dirty restaurants, and low food quality.  People from the park are adamant that they are aware of and in the process of fixing their issues, but only time will tell.

[malem]

^ Long lines have been an issue with dining plans, but there was a marked improvement this season. That food revenue grew year-over-year is a good sign.

I was pleased with the food quality at Carowinds, Kings Island and Dorney Park this season; Cedar Point and Kings Dominion could still use some help.

[CoastersRZ]

And part of it comes down to having enough seasonal help in the food stands, particularly in the shoulder seasons.

[BoddaH1994]

1 hour ago, malem said:

^ Long lines have been an issue with dining plans, but there was a marked improvement this season. That food revenue grew year-over-year is a good sign.

I was pleased with the food quality at Carowinds, Kings Island and Dorney Park this season; Cedar Point and Kings Dominion could still use some help.

Oh, I don't want to come off as a negative Nancy.  There clearly was an improvement over the course of the season.  Unfortunately the first few weeks were a mess.  They were last year too.  It's a battle that has to be had every year.  I think that training might be an issue too.  It seems like when someone uses a meal or drink plan then it's fine but if someone is purchasing something - especially in cash - there is a bit of confusion.  Fortunately, their registers are completely customizable.  You may have noticed that using the meal plan was several button pushes two years ago, but a quick scan now.  This is the sort of thing that can shave 10 or 15 minutes off of a long line.  The people running the show over there aren't dumb and they realize that sometimes simple fixes can be key.

The way to fix the department is simple, but I admit that it's easier said than done:

-Implement a better crowd predictive model to better utilize staffing

-Create a culture based on pride in your work

-Set out-of-the-gate standards for employees surrounded by the cornerstones (safety, cleanliness, courtesy, service, and integrity)

-Rework the culture from the top down around incentivizing employees for, among other things, upholding the cornerstones

-Ensure that top leadership is committed to creating a work environment that is fun, fair, and allows for growth

Is this really too much to ask?

[Creed Bratton]

According to the Sandusky Register, Cedar Point will be building an expansion to Hotel Breakers and placing it on the land previously occupied by Sandcastle Suites: 

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SANDUSKY — Cedar Point will open a new five-story, 158-room addition to Hotel Breakers in May.

The expansion will bring the hotel’s total number of rooms to 669. The expansion will build on land formerly occupied by Sandcastle Suites, which Cedar Point previously announced was closing.

http://www.sanduskyregister.com/story/201711020022

 

So I take it from that article, what they've been building will be picked up and moved once Sandcastle Suites is razed.