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Visits and profits down at Cedar Fair
Theme park operator Cedar Fair suffered a 7 per cent decrease in visitor numbers during 2009, mainly down to a big fall in group and season pass sales.
As a result, the group said that park-level operating revenue fell by 15.7 per cent - from US$355.9m in 2009 to US$299.9m.
Dick Kinzel, Cedar Fair's chair, president and chief executive officer, said: "The decrease in attendance was primarily the result of a sharp decline in group sales business, which was negatively affected by the poor economy; a decrease in season pass visits due to a decline in season pass sales during the year; and poor weather, particularly cooler than normal temperatures throughout much of the season in both our northern and southern regions.
"During this same period average in-park guest per capita spending decreased 1 per cent, or US$0.57.
"Out-of-park revenues, which represent the sale of hotel rooms, food, merchandise and other complementary activities located outside the park gates, decreased 7 per cent, or US$7.3m, due primarily to lower occupancy rates at most of our hotel properties."
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