August 3, 2023, 12:58 PM ·
Attendance and earnings dropped this spring at the Cedar Reasonable topic parks, and that decrease has continued via July, the organization claimed these days.
Cedar Fair – which owns Knott’s Berry Farm, Cedar Level, Canada’s Wonderland, Kings Island, and seven other concept parks – reported that attendance at its parks dropped 6%, to 7.4 million guests, in the three months ending June 25, 2023, when in comparison with the identical period in 2022. That pushed earnings down 2% from the prior calendar year, to $501 million for the quarter.The business also reported that attendance at its parks dropped 4%, to 5.9 million friends, during the 5-7 days interval ended July 30, 2023, when compared to the exact interval in 2022. Preliminary earnings fell 2%, to $414 million, for the similar time period as opposed to the prior yr.Per capita shelling out was up, while, in element owing to larger meals and beverage and season go price ranges. That rose to $63.82 in July, up 2% from the prior calendar year. Cedar Good noted Modified EBITDA [earnings before interest, taxes, depreciation, and amortization] of $151 million for the second quarter of 2023 – an 11% drop from the exact period in 2022.
Like SeaWorld before this week, Cedar Good administration blamed the temperature for its attendance drop.”Regrettably, anomalous weather patterns – such as unparalleled rainfall in California and wildfires in Canada – have considerably disrupted yr-to-date attendance, as nicely as income of 2023 season passes, creating a headwind on need,” Cedar Fair President and CEO Richard Zimmerman claimed. “Macro-linked headwinds have disrupted demand from customers and season pass income at our California parks, contributing to a 17% drop in blended attendance at individuals parks in the course of the quarter. In the meantime, combined attendance at our 6 parks positioned in the Midwest, which have been the very least afflicted by weather, was up 7% all through the quarter, which includes two of our major parks, Cedar Level and Kings Island.”One particular ought to notice that Common Studios Hollywood professional the similar bad climate as Knott’s Berry Farm (and SeaWorld San Diego), but operator Comcast claimed document effectiveness during the quarter at USH, which opened its Tremendous Nintendo Planet at the beginning of the year. We will obtain out subsequent week how Disneyland and 6 Flags Magic Mountain did, but it appears that Mario and firm are pulling substantial numbers of site visitors from Universal’s competitors in California.Knott’s Berry Farm was intended to open up its refurbished MonteZOOMa: The Forbidden Fortress coaster this yr, but development delays have postponed its debut, removing just one of Knott’s defenses from the attractiveness of Super Nintendo Planet. Nonetheless, the new Arctic Rescue coaster did not assistance SeaWorld San Diego press its attendance, so probably not even Montezooma could have helped deliver Cedar Reasonable any “revenge” from Mario. (Couldn’t resist, sorry.)For ticket specials, as nicely as our reader rankings and tips on checking out Cedar Fair’s parks, make sure you go to our our Topic Park website visitors guides.And for much more concept park news, make sure you indicator up for Theme Park Insider’s weekly newsletter.
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