News: Cedar Fair, L.P. reports attendance and revenues through August

http://www.pointbuzz.com/news.htm?id=1015

Bummer, I was hoping to see a little bit of better news. Although it isn't terrible news, it must be frustrating for Cedar Fair in finding out how they can get more people through the gates despite the crappy economy in CP's and GL's region.

~Rob Willi

Well, they should have built that 500 foot coaster. And a new waterpark.

This is disappointing. Not fun seeing CP's and GL's attendance go down again. I don't know what will get more people in at CP and GL. I agree that CF is probably quite frustrated at the moment.

Not a surprise, in my opinion... And I don't mean because of the said "weather" or "economy."

*** Edited 9/9/2006 9:49:27 PM UTC by DBCP***

I listened to the conference call, and I thought Kinzel said GL attendence was up over last year, but not meeting expectations.

Is this right?

It seems to me that CP is at its peak draw for the region. Unless they find a way to expand that region I would wager that just a bit over 3 million is about all they can expect year to year. That is unless they really want to lower the price of things...

Of course this is just my opinion.
*** Edited 9/10/2006 4:19:43 AM UTC by gener***

^ I agree with the first part of what you said; the general demographics of northeast/northern Ohio (and all of Ohio and the north) are shrinking. They might not be able to get the numbers they really want. I'm not sure, though, that lowering the price is going to make much difference. They already did this this year and it doesn't look like this promotion worked for them.

As for GL, they're in a real uphill battle. The region ultimately might not be able to support two large amusement parks the way it used to.

First the cuts weren't enough to make people say, "wow this IS a bargin". It was enough for people to say, "at least i don't have to bend over so far anymore."

The other thing is that the price reductions weren't advertised as much as they should have. I bet not only did most people not know that almost all food items were reduced, but they also didn't notice the reduction. I know i didn't notice when i looked up at the menu boards, and i knew that the prices were reduced!

There is no reason to think they couldn't get a much higher attendance if they were willing to lower the prices more. How much do they have to lower it? Well enough to create a percieved value.

But really is that what they should do? I'm thinking not. Increasing the annual attendance to let's say four mil would create all kinds of new issues and complicate other old ones. But if we're willing to accept that the park has capped out at 3.whatever mil then we can't be disappointed when they don't smash a new attendance record every year a new coaster goes in.

The real truth is that the park is as popular as ever. Cedar Point is maintaining an attendance level never seen before for the past years. Remeber how the Gemini line would run up the midway to the old Dogems every day? The park just seems to get slower as the parks capacity increases with a generally stable attendance record.

And that's also the current issue with GLP. SFI increased the capacity so much and then blew its wad and split town. Leaving behind a messed up park with a terrible rep and a rather large capacity. Even if the park pulled in a million it would be swallowed up if all the attractions are operational.

Finally if the region is larger in population why would one predict that it couldn't support two parks like it did before? That is unless the entertanment preferances of the average NE OHIOan has changed dramatically. Or you really believe that more people in NE Ohio are poor. Which is just plain not true.

The lower attendance is IMHO due to a perceived lower value for your buck. Long, slow-moving lines, people waiting and then not getting to ride (read : MF) and down-for-whatever-reason rides don't attract people. Even if it's free.