Author Topic: Cedar Fair's Future  (Read 621 times)

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Offline Jason

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Cedar Fair's Future
« on: Jan 25, 2012, 09:45 »
I saw this posted in a couple of different places and thought it was just a financial report.  I finally clicked on it and was surprised by the amount of info.

http://newsplusnotes.blogspot.com/2012/01/cedar-fair-is-looking-fun-forward.html

There's nothing in that plan that I disagree with.  I'm guessing that the days of giant coasters is behind us so it will be interesting to see how the parks evolve.

This chart gives us an idea of where WoF sits financially when compared to the rest of the chain.


I'd image that the EBITDA number is more important than the overall revenue, which puts WoF ahead of CGA and MI and tied with VF.  I'd like to see them catch Dorney.  I'm surprised by how CP is ahead of CW.  I remember hearing that CW actually had higher attendance but that hasn't turned into higher revenue. 

Offline Orient Wolf

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Re: Cedar Fair's Future
« Reply #1 on: Jan 25, 2012, 10:14 »
^CW is a one gate theme park.  I suspect many of its guests are locals that purchase one day tickets or inexpensive season passes.  IIRC, CW's attendance only beat CP when it was under Paramount.  All of the Paramount Parks took an attendance hit when CF reduced the number of complimentary tickets issued.

CP is a resort destination.  Guests are more likely to visit multiple days, stay at on-site hotels, pay extra for the waterpark, and eat at more expensive dining locations.

Offline sambrwn52

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Re: Cedar Fair's Future
« Reply #2 on: Jan 25, 2012, 11:56 »
^ I think that is what WoF is lacking. We're the park that is "one visit every month" (general public-wise ;) ) while Cedar Point and Canada's Wonderland can be visited over a span of days, and you can actually stay in a hotel. WoF has hotels, for no reason though. I don't know why anyone would go to the park for more than a day. Although those cabins seem to be doing well...

Offline PreOut

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Re: Cedar Fair's Future
« Reply #3 on: Mar 1, 2012, 01:27 »
^ I think that is what WoF is lacking. We're the park that is "one visit every month" (general public-wise ;) )

Whoa, I think you're still overshooting there. Replace "month" with "year," for most of the GP.

EBITDA is earnings before interest, tax, depreciation and amortization, so I'm guessing the first chart is how much they make AFTER all that is subtracted.

I'm pretty shocked at how small WOF's piece of the pie is, I figured they were at least doing better than Valleyfair, but it looks like they could be close to 2nd to last place.
« Last Edit: Mar 1, 2012, 01:33 by PreOut »

Offline Orient Wolf

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Re: Cedar Fair's Future
« Reply #4 on: Mar 1, 2012, 05:35 »
With the increasing popularity of the gold season pass, I would imagine that more guests are visiting multiple times per season compared to four years ago.

The chart on the left is the amount of money the parks bring in.  The chart on the right subtracts operating expenses.  You'll see that Knott's contributes a smaller percentage of the company's earnings compared to the percentage of revenue it contributes.  That's likely because it's a year round park and has significantly higher operating expenses.

Also notice that CGA ranks last in earnings despite being ahead of MIA, WOF, and VF in terms of revenue.  That's likely because of the expensive rent payments the park has to make to the city.

Offline Swoosh

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Re: Cedar Fair's Future
« Reply #5 on: Mar 1, 2012, 06:27 »
It looks like CGA, WOF, & VF all have the same incoming revenue to me.

Offline Jason

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Re: Cedar Fair's Future
« Reply #6 on: Mar 2, 2012, 06:57 »
I expect CGA to see some of the larger gains over the next couple of years. 

Offline steel

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Re: Cedar Fair's Future
« Reply #7 on: Mar 2, 2012, 07:31 »
I guess I shouldn't be surprised that Dorney brings in a little more than WoF and VF, since it serves densely-populated eastern Pennsylvania, but I always sort of thought of those three parks as triplets.
...and the clocks were striking thirteen.

Offline AyTrane

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Re: Cedar Fair's Future
« Reply #8 on: Mar 2, 2012, 03:20 »
That's just because they all have Morgan hypers.
-Adam

Offline Zachery123

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Re: Cedar Fair's Future
« Reply #9 on: Mar 2, 2012, 03:24 »
IMO, Worlds of Fun is doing great for Kansas City's standards but not Cedar Fair's standards. Worlds of Fun is not doing as bad as you (or atleast the general puplic if they say these charts) would think. That's why they are not up for sale anymore. Cedar Fair said WOF has a good enough revenue to stay on its legs.
« Last Edit: Mar 2, 2012, 03:26 by Zachery123 »

Offline steel

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Re: Cedar Fair's Future
« Reply #10 on: Mar 2, 2012, 11:11 »
That's just because they all have Morgan hypers.
They also all have an S&S tower, a variety of wild mouse, and an out-and-back woodie variant. Patriot and Talon are very similar. Stinger and Boomerang are very similar. Prowler and Renegade are very similar. Steel Venom and Possessed are clones. Valleyfair and Worlds of Fun opened three years apart, and Worlds of Fun and Dorney were acquired by Cedar Fair three years apart. They're also all smaller scale than Cedar Point, not as small as MIA, and not intended as a resort destination like KBF. Now that the Paramount parks are in the picture, I'd put Carowinds in that same group as well.
...and the clocks were striking thirteen.