Cedar Fair Entertainment Company, the operator of 15 theme parks and waterparks across North America, has reported a 22 per cent increase in first-quarter revenues, due to the continued strength of its only year-round facility, Knott’s Berry Farm.
The Ohio-based company, which owns notable parks including California’s Great America, Canada’s Wonderland and Carowinds, said revenues in the three months to March 31 totalled $58.4m, compared to $46.8m in the prior-year period.
Commenting on the results, Matt Ouimet, Cedar Fair’s president and chief executive officer, said: “Historically, our first quarter represents less than five per cent of our full-year revenues because the majority of our parks are not open in the first quarter.
“While it is too early to see definitive trends at this point in the year, we are encouraged by the early-season strength across all aspects of our business, including advance season pass sales, all-season dining sales and group bookings.
Ouimet added: “We are particularly pleased with the early-season performance of Knott’s Berry Farm and its third annual Boysenberry Festival. This multi-week, multi-generational spring-time event is a great example of how we are leveraging the unique regional brand each park has to offer.”
Looking ahead, Ouimet said Cedar Fair continues to move forward on a range of long-term projects, including the introduction of a new digital imaging platform, FunPix; the expansion of its mobile app platform; and park-wide Wi-Fi at its five largest properties.