Valleyfair's Parent Company Announces Growing Revenues
Cedar Fair is reporting revenues through the July 4 holiday weekend are up by 5 percent compared to last year at this time.
Cedar Fair Entertainment Company, which owns Valleyfair in Shakopee among other amusement parks, is reporting that preliminary revenues through the Fourth of July holiday weekend were approximately $456 million, which is an increase of more than $20 million, or 5 percent, when compared with the same period a year ago. This period traditionally represents approximately one-third of the company's full-year revenues.
The higher revenues are a result of a 2 percent increase in attendance and a 4 percent increase in average in-park guest per capita spending, officials said. Out-of-park revenues, including resort hotels, were also up approximately 2 percent.
"We are pleased to see these positive trends early in our operating season," said Matt Ouimet, president and chief executive officer. "Enhanced guest experiences, improved consumer messaging, dynamic pricing, advance purchase commitments and premium product offerings have all contributed to our strong early-season results."
The company also said some success could be attributed to a new e-commerce platform, with an emphasis on season pass sales and advanced purchase commitments. Valleyfair debuted a new website just before the season began in May.
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.