gertslauer

Well they just announced where its going... Glenwood caverns! Bummer :( :(

When will CP shock the world again? I miss DK!!!!

Based on the chain's performance through Q2 21 (with a lot of self inflicted wounds) I'd expect very little in the way of capital investment, as they have alluded to. Hope I'm wrong. Survival mode.

James- Care to elaborate? I haven’t looked at the report.

scott sarah said:

Well they just announced where its going... Glenwood caverns! Bummer :( :(

Where the heck is that?

Shane Denmark said:

James- Care to elaborate? I haven’t looked at the report.

Still in the red through Q2, 59 million net loss. Operating days were under 400, compared to nearly 800 in Q2 2019. Over 100 million less in admissions revenue vs Q2 2019.

Not being able to open Wonderland, the highest attended seasonal park in North America, was a killer of course, but the entire chain missed the spring break window by choice, while Sea World, Six Flags and Herschend parks opened to enormous crowds. Kings Dominion especially stood out as they opened two months late while nearby competitors Six Flags America and BGW were open and seeing huge demand, albeit with some pretty horrific customer service experiences at BGW in particular.

The full year pass extension has been very costly. We also have a Six Flags membership, but they came up with some attractive options to not only keep us on the books but also get their money in 2021, offering a free lifetime upgrade now to Diamond Elite VIP (includes 4 skip the lines per visit). As a result, SF guests with memberships have been paying monthly dues all year while my CF Platinum Pass from Wonderland, renewed in August 2019, is now good through Labour Day 2022. Knotts passes also are extended in some fashion into next year.

With so few parks in the chain able to open last year, it was really impossible for CF to not do a major extension, but having only the season pass, rather than membership, further tied their hands. I think they also could have justifiably limited the extension on CP, KI, Dorney and WoF specific gold and season passes, rather than include all of 2021.

They mentioned that demand is way up and things are looking better, but they are playing catch up big time vs the other chains. They also did not go back on any earlier assertions of limited capital investment, so I doubt we'll be seeing anything on the scale of what the Six Flags looks to be doing at the Texas parks, Magic Mountain and likely other locations. Even the Kings Dominion free-spin is a product of Pre-pandemic spending, given when the track first showed up in their parking lot.

Shawn, Glenwood Caverns is a small park in Colorado. The park sets on the side of a cliff.