After numerous years of financial troubles that nearly closed the park for good, it seems that Conneaut Lake Park might finally be on a positive track. Much like the park's classic wooden Blue Streak roller coaster, the park has had ups and downs over the years, but more downs in recent memory.
When the park was going through bankruptcy proceedings in 2014 a new set of trustees were put in place to operate the park, and this year they're actually at a point where they have positive cash flow. Might sound like a basic business concept to achieve, but things were that bad for this park.
So for in 2016 overall revenue from the park's camping area, rides and attractions, food and retail are up 35% over 2015 - quite significant. An example was given that now the park can operate for a weekend on $30,000 and bring in $50,000 in cash, where the opposite was previously true.
|© Conneaut Lake Park|
The new trustees are hoping that their plan for operating the park will be approved in bankruptcy court this fall, allowing for stable future years of operations. The park still has millions in debt to pay back, part of which will be done by selling non-essential land along the lake.
While not totally out of the woods yet, it's nice to see some good news reported about the park for a change!