BoddaH1994 Posted March 14 Share Posted March 14 6 hours ago, jzarley said: Herschend is also not a public company, which really impacts how a board has to approach things like ROIC, revenue and cost structures. Look at the difference between BEC and the standalone (and public) SeaWorld/Busch parks. Not to mention, Herschend has certain values that are not consistent with the thinking of many Cedar Fair people. When we had Joel Mandy on the Attractions Group Podcast, he spoke very highly of HFE and how they truly put the guest at the center of everything. For other Teams... "It's as adorable as it is predictable." ...and the sentiment shows. 6 Quote Link to comment Share on other sites More sharing options...
jzarley Posted March 14 Share Posted March 14 1 hour ago, BoddaH1994 said: Not to mention, Herschend has certain values that are not consistent with the thinking of many Cedar Fair people. When we had Joel Mandy on the Attractions Group Podcast, he spoke very highly of HFE and how they truly put the guest at the center of everything. For other Teams... "It's as adorable as it is predictable." ...and the sentiment shows. I worked with Joel Manby when he was CEO at SeaWorld (we bonded over sharing the same first name ). Joel is a pretty good guy himself—one of the best CEOs I’ve ever worked for. 3 Quote Link to comment Share on other sites More sharing options...
IndyGuy4KI Posted March 15 Author Share Posted March 15 23 hours ago, jzarley said: Herschend is also not a public company, which really impacts how a board has to approach things like ROIC, revenue and cost structures. Look at the difference between BEC and the standalone (and public) SeaWorld/Busch parks. Definitely makes a difference on how business decisions are made. 4 Quote Link to comment Share on other sites More sharing options...
Oldiesmann Posted April 19 Share Posted April 19 Got a notification from Google about this today. I don't fully understand this but it should be of interest to some. https://investors.sixflags.com/news-and-events/press-releases/2024/04-16-2024-213022046 2 1 Quote Link to comment Share on other sites More sharing options...
MeredithGrey Posted April 20 Share Posted April 20 18 hours ago, Oldiesmann said: Got a notification from Google about this today. I don't fully understand this but it should be of interest to some. https://investors.sixflags.com/news-and-events/press-releases/2024/04-16-2024-213022046 Also confused, but two thoughts... 1. Looks like this news may be confirmation that yes the merger plans are moving forward as planned, & closer to being achieved. 2. Could this basically be just news that shares of the newly formed company will be available to a select few? Lots of language in here that is most certainly legally mandated. 2 Quote Link to comment Share on other sites More sharing options...
Kenban Posted April 20 Share Posted April 20 20 hours ago, Oldiesmann said: Got a notification from Google about this today. I don't fully understand this but it should be of interest to some. https://investors.sixflags.com/news-and-events/press-releases/2024/04-16-2024-213022046 This is effectively a type of loan. Six Flags will sell $850 million dollars of IOU’s that it will have to pay back in 2032 along with interest. This is normal and they get issued regularly. It even states that it will be used to pay back a note due in 2025. 3 Quote Link to comment Share on other sites More sharing options...
BeeastFarmer Posted May 6 Share Posted May 6 Things should be interesting on Thursday at 830 when the two companies have earnings calls scheduled simultaneously. 2 Quote Link to comment Share on other sites More sharing options...
BeeastFarmer Posted May 9 Share Posted May 9 1 Quote Link to comment Share on other sites More sharing options...
disco2000 Posted May 9 Share Posted May 9 And this is why they can continue to bait & switch and cut hours and food quality and all the other complaints folks make....people will still show up...record Q1 revenue despite 44 net fewer operating days... Highlights: First Quarter of 2024 Compared to First Quarter of 2023 44 net fewer operating days compared to Q1-2023. Net revenues totaled a record $102 million for the quarter, an increase of 20%, or $17 million. The Adjusted EBITDA(1) loss for the quarter totaled $97 million compared with an Adjusted EBITDA loss of $101 million in Q1-2023. Attendance totaled 1.3 million guests, an increase of 27%, or 290,000 guests. Out-of-park revenues(2) totaled a record $23 million for the quarter, an increase of 21%, or $4 million. Quote Link to comment Share on other sites More sharing options...
KI Guy Posted May 9 Share Posted May 9 ^Aren't those 44 removed operating days from Q1 just the days from Carowinds' and Kings Dominion's reveting back to non-year-round operation? 1 Quote Link to comment Share on other sites More sharing options...
Taylor.B03 Posted May 9 Share Posted May 9 10 minutes ago, KI Guy said: ^Aren't those 44 removed operating days from Q1 just the days from Carowinds' and Kings Dominion's reveting back to non-year-round operation? They are 2 Quote Link to comment Share on other sites More sharing options...
disco2000 Posted May 9 Share Posted May 9 True, but regardless of the number of days, they posted record revenue Q1. The point is people complain all the time, yet more than enough people still see value and go/spend in record numbers. So from the Board's perspective, they are doing something right and will continue to make the same decisions that many feel are ruining the guest experience...which is unfortunate to those feeling CF is devaluing the experience. Based on all the complaints and apparent lack of marketing, one would expect to see declines, and until that happens that they cannot brush off as "weather related", expect to see more of the same cuts we see. 1 Quote Link to comment Share on other sites More sharing options...
disco2000 Posted May 9 Share Posted May 9 What is the holiday Fast Lane - does he mean fright lane or is this going to be some new offering, or since it says "there" referring to CP, is this a hint of Winterfest LOL? And of course @Tr0yfavorite the upcharge on food: "if I think about the month of April and what we’ve been seeing continued healthy increases in food and beverage leading the way, increased extra charge, premium offering, revenue and per cap as well, part of that. And we’re just getting to where we’ve opened now Cedar Point, with Top Thrill 2, we think the premium offerings there, most notably Fast Lane and – the holiday Fast Lane and the single-use Fast Lane will be a nice lift year-over-year." 1 Quote Link to comment Share on other sites More sharing options...
IndyGuy4KI Posted May 9 Author Share Posted May 9 1 hour ago, disco2000 said: What is the holiday Fast Lane - does he mean fright lane or is this going to be some new offering, or since it says "there" referring to CP, is this a hint of Winterfest LOL? Unless they are going to have fastlane at the parks that do Winterfest this year? 1 Quote Link to comment Share on other sites More sharing options...
disco2000 Posted May 9 Share Posted May 9 9 minutes ago, IndyGuy4KI said: Unless they are going to have fastlane at the parks that do Winterfest this year? I was wondering that, except for the part that referenced it as part of CP - but that could have been in error referencing CP? But if it is for parks with Winterfest, how would that impact season long FL? Carowinds did FL during Winterfest and season long was good. Would season long not be good? Quote Link to comment Share on other sites More sharing options...
Tr0y Posted May 10 Share Posted May 10 7 hours ago, disco2000 said: True, but regardless of the number of days, they posted record revenue Q1. The point is people complain all the time, yet more than enough people still see value and go/spend in record numbers. So from the Board's perspective, they are doing something right and will continue to make the same decisions that many feel are ruining the guest experience...which is unfortunate to those feeling CF is devaluing the experience. Based on all the complaints and apparent lack of marketing, one would expect to see declines, and until that happens that they cannot brush off as "weather related", expect to see more of the same cuts we see. Last year the “year round” parks operated at a loss. They made their corrections this year by scaling back those operating days that people weren’t visiting. Remember the excuse was “Bad Weather” and that was an excuse for the shareholders. In reality it showed a total incompetence of the c-suites who made that decision to go “year round” to begin with. I mean what did they really expect the weather to be during those months? Especially when the majority of the parks do not have the infrastructure to provide guests areas of refuge or things to do during bad weather. It’s like they had this whole idea with “year round calendar” that they would operate as a soup kitchen and that would get them the numbers needed. Turns out, people still need things to do between those 4 hour meal intervals. 2 coasters and a couple of flat rides ain’t gonna cut it. They reduced the operating days by cutting those days that operated at a loss. At the same time they didn’t reduce the pricing, which is why they are enjoying “record profits” this quarter. It’s a short term gain, but based off the strategy that they follow there is more growth potential in a year long calendar. The more time a guest spends in the park the more likely they are going to spend money. That is literally the strategy of CF with its “value” priced season passes. Reducing hours and cutting days goes against that model, but then again they clearly didn’t understand the other nuances that keep guest at the park. 1 Quote Link to comment Share on other sites More sharing options...
disco2000 Posted May 10 Share Posted May 10 Meanwhile over at Six Flags: Total revenue for first quarter 2024 decreased $9 million, or 6%, compared to first quarter 2023. Total attendance was 1.7 million guests, a 6% increase from the prior year, The $6.53 decrease in guest spending per capita compared to first quarter 2023 consisted of a $5.77 decrease in admissions spending per capita and a $0.76 decrease in in-park spending per capita. The company had a net loss of $83 million in first quarter 2024, compared to net loss of $70 million in first quarter 2023. The loss per share was $0.98 compared to loss per share of $0.84 in first quarter 2023, driven by lower revenue. Who is coming out the winner in this merger.... 1 Quote Link to comment Share on other sites More sharing options...
Tr0y Posted May 10 Share Posted May 10 11 minutes ago, disco2000 said: Meanwhile over at Six Flags: Total revenue for first quarter 2024 decreased $9 million, or 6%, compared to first quarter 2023. Total attendance was 1.7 million guests, a 6% increase from the prior year, The $6.53 decrease in guest spending per capita compared to first quarter 2023 consisted of a $5.77 decrease in admissions spending per capita and a $0.76 decrease in in-park spending per capita. The company had a net loss of $83 million in first quarter 2024, compared to net loss of $70 million in first quarter 2023. The loss per share was $0.98 compared to loss per share of $0.84 in first quarter 2023, driven by lower revenue. Who is coming out the winner in this merger.... CF posted a net loss of 133 million, compared to SIX’s 83 million in the same quarter. “Record profits” yet CF still took a big L. Quote Link to comment Share on other sites More sharing options...
disco2000 Posted May 10 Share Posted May 10 17 minutes ago, Tr0y said: CF posted a net loss of 133 million, compared to SIX’s 83 million in the same quarter. “Record profits” yet CF still took a big L. Don't forget the big bonuses c-suite gets for the merger... Quote Link to comment Share on other sites More sharing options...
DispatchMaster Posted May 14 Share Posted May 14 The most glaring issue is that revenue is up while per caps are down. This may indicate that the parks are attracting low-spend guests/pass holders at the expense of driving away a more lucrative customer. But by the time that problem becomes impossible to ignore, those C suite folks will deploy their golden parachutes and move on to their next failure. 3 Quote Link to comment Share on other sites More sharing options...
Outdoor Man Posted May 14 Share Posted May 14 (edited) 1 hour ago, DispatchMaster said: The most glaring issue is that revenue is up while per caps are down. This may indicate that the parks are attracting low-spend guests/pass holders at the expense of driving away a more lucrative customer. But by the time that problem becomes impossible to ignore, those C suite folks will deploy their golden parachutes and move on to their next failure. I AGREE! Spring is a hard financial time for parks to navigate, because you are right, the parks are filled with a lot of Season Pass holders and school groups who are there at a discounted price. It would be a hard sell to the "General-Admission-Paying" public to pay full ticket price for: a truncated experience by a park that closes, sometimes, 3 hours earlier than >Memorial Day. days packed with thousands of kids from school groups.... many of whom tend to be "brats" unpredictable weather: hot/cold rain/humid. At least in Summer you know it's going to hot as hades and any humidity storm will be there and gone within 30'ish minutes. It will be an interesting summer. Studies published by professionals affiliated with IAAPA are predicting a good year for seasonal parks. Even if the economy continues a downward trend people will shift into staycation mode and spend money here as opposed to... Orlando. And, yes- the C-Suite folks generally ALWAYS know where the golden parachutes are; and I'm pretty sure that the suite dwellers from the company -approaching financial hardships- trying to merge with the suite dwellers from the company with a -history of financial hardships- know keenly where the keys to unlock the parachute cabinet are. Edited May 14 by Outdoor Man my bad grammar 2 Quote Link to comment Share on other sites More sharing options...
DispatchMaster Posted May 14 Share Posted May 14 Agreed that Q1/Q2 can be difficult, but per caps going down seems to have been a relatively constant trend in both quarterly and annual reports, at least based on my admittedly-sporadic reading of them. And yes, it does seem that there's somewhat of a lull in post-pandemic travel, and that does indeed provide an opportunity to regional parks. But it arguably would have provided an even bigger boost had CF continued on the more premium product trend under Ouimet. Imagine the per caps they could have extracted in Mason/Sandusky/Charlotte/etc. from guests who had become accustomed to Orlando vacations! 1 Quote Link to comment Share on other sites More sharing options...
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