SANDUSKY, OHIO, January 9, 2008
-- Cedar Fair (NYSE: FUN), publicly traded leader in regional
amusement parks, water parks and active entertainment, today
announced that combined attendance in 2007 at its eighteen locations
totaled 22.1 million guests compared with 19.3 million in 2006.
During this same period, preliminary average in-park guest per
capita spending increased 5% to $40.45 compared with $38.71 in 2006.
Dick Kinzel, chairman, president and chief executive officer, noted
that the 2006 figures include results from the Paramount Parks since
their acquisition from CBS Corporation on June 30, 2006, while
results for 2007 include a full-year of operations. “We experienced
solid increases in average in-park guest per capita spending at each
of our parks,” said Kinzel. “On a regional basis, our northern
region parks entertained approximately 12.4 million guests compared
with 10.7 million guests in 2006, while our southern region parks
entertained 4.1 million guests compared with 3.3 million guests a
year ago, and our western region parks hosted 5.6 million guests
versus 5.3 million guests in 2006.”
“Overall, we are pleased with our 2007 results as we end a
transformational year for the company,” said Kinzel. “This was our
first full year of owning and operating the newly acquired parks and
we have learned a great deal about our new customers during this
time. With our record-high $88 million in planned capital
expenditures for 2008 along with the introduction of exciting new
marketing promotions to capture our guests’ attention, we are
confident 2008 will be another successful year for the company.”
Kinzel concluded by noting that the Company plans to issue a news
release and host a conference call with analysts on Thursday,
February 7, 2008 to discuss 2007 fourth quarter and full year
earnings results for Cedar Fair. The Company’s 2007 year-end tax
information will also be processed and mailed to unitholders at the
beginning of March. The same tax information will be available to
unitholders through the Investor Relations section of the
Partnership’s corporate web site (www.cedarfair.com) beginning
Monday, March 3, 2007.
Cedar Fair is a publicly traded partnership headquartered in
Sandusky, Ohio, and one of the largest regional amusement-resort
operators in the world. The partnership owns and operates 11
amusement parks, six outdoor water parks, one indoor water park and
five hotels. Amusement parks in the company’s northern region
include two in Ohio: Cedar Point, consistently voted “Best Amusement
Park in the World” in Amusement Today polls, and Kings Island; as
well as Canada’s Wonderland, near Toronto; Dorney Park, PA;
Valleyfair, MN; and Michigan’s Adventure, MI. In the southern region
are Kings Dominion, VA; Carowinds, NC; and Worlds of Fun, MO.
Western parks in California include: Knott’s Berry Farm; Great
America; and Gilroy Gardens, which is managed under contract. Also
included in that region is Star Trek: The Experience, a Las
Vegas-based interactive adventure.