Wednesday, February 16, 2011

Cedar Fair Posts Record Year

Cedar Fair had some nice news to share today when they announced their full 2010 operating results.  The numbers paint a mostly sunny  picture, with record results being posted in several categories.

Full year revenues reached $977.6 million, leading to EBITDA of $359.2 million which is a new record for Cedar Fair.  Margins were also up to 36.7% from 34.6% in 2009.  These numbers came off of record attendance of 22.8 million, up 1.7 million from 2009.  On all those fronts it was a wonderful year.

Attendance was helped by increased season pass sales and the continued rebound of the group sales business.  The Southern and Western regions did especially well in this regard.  The Halloween season was better than ever as the 4th quarter saw an overall increase in attendance of 20%.

In park average spending was down less than 1%, which is partially attributed to the increase of season pass holder's who aren't known to spend as much.  Out of the park revenues, such as hotels, were up 6.1%, an encouraging sign.

In 2011 the company will spend approximately $75 million on new capital additions including the four WindSeeker rides and new Peanuts areas at three parks.