North American amusement park operator, Cedar Fair Entertainment Company, has booked a four per cent increase in revenues for the first half of the year, due primarily to an increase in attendance and out-of-park revenues.
In the January 1 to July 4 period, revenues for the company, which owns 11 amusement parks, three outdoor waterparks, one indoor waterpark and five hotels, totalled $517m, an increase of $20m, or four per cent, compared to the prior-year period.
The higher net revenues are a result of a three per cent increase in attendance, a one per cent increase in average in-park guest per capita spending and a seven per cent increase in out-of-park revenues, including resort hotels, the group stated.
“There is no question that our commitment to the quality of the guest experience is the primary driver behind our strong results,” said Matt Ouimet, president and chief executive officer.
“We want to provide experiences that encourage guests to visit our parks early and to visit them often. Across our portfolio we have added record-breaking roller coasters; more than two dozen family rides; immersive midway entertainment; multi-week special events, including food and music festivals; expanded water park offerings; and extended park operating hours.”
Ouimet added: “We are even more confident today in our long-term business model as we continue to see consumers prioritise having fun with their family and friends this summer.
“With all of the distractions and obligations people have, they continue to choose our parks in record numbers, keeping us on track to have our seventh straight year of record results.”