This excerpt taken from the FUN 8-K filed Feb 12, 2009.
For the 2009 season, Kinzel reported that the company will be investing approximately $62 million in capital improvements across its properties, highlighted by the addition of a new world-class roller coaster at Kings Island in Cincinnati. The company will also introduce two additional coasters: Prowler, a wooden coaster, at Worlds of Fun in Kansas City and Carolina Cobra, a boomerang-style coaster, at Carowinds in Charlotte, North Carolina. In addition, family attractions will be introduced at Valleyfair in Shakopee, Minnesota and Kings Dominion in Doswell, Virginia. Finally, several parks will debut a variety of exciting live shows, including the expansion of the All Wheels Extreme stunt show to several properties.
It is important for us to reinvest in our parks on an annual basis, said Kinzel. Capital reinvestment has always been a high priority for the company, and it is why we have been able to maintain and improve our operating results over the years. Our strategy has always been to offer a variety of activities to our guests, and I believe our 2009 program will again capture their attention.
This excerpt taken from the FUN 8-K filed Nov 6, 2008.
Kinzel noted that based on preliminary results through October, the Company reaffirmed its guidance of full-year revenues between $990 million and $1.02 billion and adjusted EBITDA between $340-$355 million.
Kinzel concluded by noting that virtually all of Cedar Fairs revenues from its seasonal amusement parks, water parks and other seasonal resort facilities are realized during a 130 to 140-day operating period beginning in early May, with the major portion concentrated in the peak vacation months of July and August. Only Knotts Berry Farm and Castaway Bay are open year-round, with Knotts Berry Farm operating at its highest level of attendance during the third and fourth quarters of the year.
Management will host a conference call with analysts today, November 6, 2008, at 2:00 p.m. Eastern Time, which will be web cast live in listen only mode via the Cedar Fair web site (www.cedarfair.com). It will also be available for replay starting at approximately 5:00 p.m. ET, Thursday, November 6, 2008, until 11:59 p.m. ET, Thursday, November 20, 2008. In order to access the replay of the earnings call, please dial 1-800-406-7325 followed by the access code 3927639.
Cedar Fair is a publicly traded partnership headquartered in Sandusky, Ohio, and one of the largest regional amusement-resort operators in the world. The Company owns and operates 11 amusement parks, six outdoor water parks, one indoor water park and five hotels. Amusement parks in the companys 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 Canadas Wonderland, near Toronto; Dorney Park, PA; Valleyfair, MN; and Michigans Adventure, MI. In the Southern Region are Kings Dominion, VA; Carowinds, NC; and Worlds of Fun, MO. Western parks in California include: Knotts Berry Farm; Californias Great America; and Gilroy Gardens, which is managed under contract.
This excerpt taken from the FUN 8-K filed Feb 7, 2008.
For the 2008 season, Kinzel reported that the company will be investing $88 million in capital improvements across its properties, highlighted by the addition of new world-class roller coasters at Canadas Wonderland, Knotts Berry Farm, Kings Dominion, Dorney Park and Michigans Adventure. In addition, the company is expanding the water park at Carowinds and introducing a new childrens area at Cedar Point and a new thrill ride at Californias Great America. We will continue our long-term strategy of continually reinvesting in our parks to improve the guest experience, said Kinzel. We remain in solid shape to invest capital in our parks as planned, while maintaining our regular quarterly cash distributions to our unitholders and managing our debt levels.
Commenting on expectations for 2008, he added, We believe we are off to a positive start in 2008. We are now a more geographically diversified company. After our first full year of operating the new parks, we have learned from what worked and what didnt work, and we have a marketing program in place at each of our parks for the upcoming season which reflects those conclusions. For the full year, we expect to generate revenues of $990 million to $1.02 billion, driven primarily by improvements in attendance and in-park guest per capita spending across our parks, as well as continued growth in accommodations revenues at our resort properties. Based on