KINGS ISLAND AMUSEMENT PARK TURNS 48

BY GABRIELLE


Kings Island, the 364-acre amusement park in Ohio, is celebrating its 48th birthday. The theme park opened on April 29, 1972.

On opening, Kings Island was home to around 60 attractions. The family-friendly amusement site and waterpark now boasts more than 100 rides. The park’s Orion giga coaster, one of only seven giga coasters in the world, is set to open in 2020.

Initially, the park was operated with around 1,300 employees. Today, the huge theme park and waterpark requires around 5,000 members of staff.

Kings Island is operated by Cedar Fair, which has announced that during the COVID-19 pandemic as the park remains shut, 2020 Season Passes for Kings Island will be valid for the 2021 season.

Once the park reopens, Regular, Gold and Platinum Season Passes, as well as 2020 Pass Ad-Ons, will be automatically valid and will be extended into next year’s season.

CEDAR FAIR ANNOUNCES SERIES OF COST-CUTTING MEASURES

 BY GABRIELLE


Cedar Fair Entertainment Company has announced it is to make a series of cost-cutting measures in response to the coronavirus crisis.

In March 2020, Cedar Fair closed all its parks. In a drive the cut costs, the company eliminated nearly all seasonal and part-time labour costs.

Part of the cost-cutting measures included the suspension of all advertising and marketing expenses. Cedar Fair also reduced its CEO’s salary by 40 per cent. Other company executives have also received 25 per cent cuts to their basic salary. All full-time members of staff at Cedar Point parks have also had their hours reduced by 25 per cent.

Capital spending of the parks has been delayed by at least $75 million on non-essential projects as part of the company’s bid to make savings to costs during these challenging and unprecedented times.

In a press statement, Richard Zimmerman, president and CEO of Cedar Fair, commented: “As we work to ensure the safety and well-being of our employees, guests and business partners from the effects of COVID-19, it’s important we also embrace measures that will ensure our financial flexibility through this difficult period.

“After social distancing recommendations by the authorities are lifted, we look forward to opening our parks as soon as reasonably possible. The actions we are announcing today help put us in a better position to do so as we navigate the unknown environment ahead,” Zimmerman added.

CEDAR FAIR ANNOUNCES RECORD ATTENDANCE AND REVENUE IN 2019

BY GABRIELLE

Cedar Fair, a leader in regional waterparks, amusement parks and immersive entertainment, has announced 2019 was an extremely successful year for company, reporting record attendance and revenue results.

Net revenues in 2019 reached $1.47 billion, a 9% increase on 2018. The rise in revenue has been attributed to a 5% increase in attendance, equating to a record 27.9 million guests.

Significant gains in attendance can also be credited to a record performance at Cedar Fair from July until October, as well as a highly successful season pass program.

Richard Zimmerman, president and CEO of Cedar Fair, commented on the company’s successful year.

“We are extremely pleased with our 2019 season, which was the most successful year in Cedar Fair’s history.

“The initiatives within our long-range strategic plan, which focused on broadening the guest experience through more immersive attractions and entertainment, are clearly resonating in our markets.

“The successful execution of these initiatives by our talented park teams, and the early contributions from the newly acquired Schlitterbahn waterparks, combined to produce our record results in 2019,” Zimmerman continued.

CEDAR FAIR APPOINTS DANIEL HANRAHAN AS BOARD CHAIRMAN

BY GABRIELLE

Cedar Fair, a leader in regional water parks, amusement parks and immersive entertainment, has appointed Daniel Hanrahan as the company’s new board chairman.

Hanrahan has served on Cedar Fair’s board of directors since 2012 and will take up his role as independent board chairman on January 1, 2020.

Daniel Hanrahan has more than 30 year’s experience as a senior executive in the retail, consumer-packaged goods, travel and hospitality sectors, including holding the position of president and CEO for both the Regis Corporation and Celebrity Cruise Lines.

Hanrahan currently serves as director and member of the audit committee for Lindblad Expedition Holdings.

Matthew Ouimet, who has served as Cedar Fair’s executive chairman since January 2018, spoke of the new appointment, commenting: “Dan’s breadth of professional experience and leadership qualities make him well qualified to lead the Cedar Fair board.

“I sincerely enjoy serving on Cedar Fair’s board and look forward to serving in my expanded role as chairman. I particularly appreciate how the management team and board focus their decision making on the best long-term interests of Cedar Fair’s guests, investors and employees, an approach I will continue to support as chairman.”

Richard Zimmerman, president and CEO of Cedar Fair, commented: “Many thanks go to Matt and Debra for their leadership of the board over the past several years. Our management team and unitholders have clearly benefited from their vision, insights and guidance and I’m pleased they will continue to serve as directors.”

SCHLITTERBAHN WATERPARK AND RESORT NAMED WORLD’S BEST WATERPARK

 BY GABRIELLE

Schlitterbahn Waterpark and Resort in New Braunfels, Texas, has maintained its pole position as being named the world’s best waterpark for the 22nd year in a row.

The accolade was given during Amusement Today’s yearly Golden Ticket Awards, which took place at Silverwood Theme Park in Athol, Idaho.

Schlitterbahn Waterpark and Resort stretches for more than 70 acres and features over 50 rides and attractions. The attraction site is renowned for its unique German heritage theme and spring-fed river setting.

Cedar Fair, operators of award-winning theme parks, purchased Schlitterbahn Waterpark and Resort in June for $261 million.

As well as winning the world’s best waterpark title at the Golden Ticket Awards, Cedar Fair picked up the award for the best steel rollercoaster for the fourth consecutive year. The Fury 325 steel rollercoaster is located at Carowinds, a Cedar Park attraction venue in North Carolina.

Richard Zimmerman, president and CEO at Cedar Fair, commented:

“It is always a privilege and an honour to be recognised and we congratulate all 2019 Golden Ticket Award winners in our industry.

“Cedar Fair is proud of our associates who deliver unique and memorable experiences for our guests every day,” Zimmerman added.

CEDAR FAIR TO LAUNCH NEW GIGA COASTER AT KINGS ISLAND, OHIO

BY GABRIELLE

Cedar Fair has announced it is to install a new giga coaster at King’s Island in Ohio, USA.

Known as Orion, the giga coaster boasts a 300-foot first drop and reaches top speeds of 91mph. With 5,321 feet of track, Orion is the tallest, longest and fastest steel roller coaster at King’s Island.

The new attraction qualifies as a ‘giga coaster,’ as it boasts a drop of between 300 and 399 feet. Orion is one of just seven giga coasters in the world.

Following the first drop, the giga coaster will propel riders over seven more hills. The ride lasts for three whole minutes.

King’s Island is home to the world’s longest wooden rollercoaster, The Beast. The theme park describes itself as being the largest amusement and waterpark in the Midwest.

CEDAR FAIR TO ACQUIRE TWO AWARD-WINNING TEXAS-BASED WATERPARKS

BY GABRIELLE

Waterpark and theme park operator Cedar Fair is to acquire two iconic, award-winning waterparks in Texas – the Schlitterbahn Waterpark and Resort New Braunfels and Schlitterbahn Waterpark Galveston.

The acquisition is to cost $261 million and will bring Cedar Fair’s portfolio to a total of 15 parks, resort accommodation comprising of more than 2,000 rooms across six parks and over 600 luxury RV sites.

The purchasing of the two Schlitterbahn waterparks is part of Cedar Fair’s strategic plan for growth over the next five years.

Richard Zimmerman, Cedar Fair’s President and CEO, shared his enthusiasm about the acquisition.

“We are very excited about the opportunity to bring these two award-winning Texas water parks into the Cedar Fair family.

“These properties represent new markets for us with attractive demographics in the growing Central Texas region, and they align with our strategy to identify compelling opportunities to accelerate our growth and profitability.

“The investments we have made over the past five years to strengthen our back-of-house and customer-facing systems will support a smooth integration of these properties by ensuring a premium guest experience, strong team collaboration and superior execution.”

“Schlitterbahn employees are known throughout the industry for their innovation and dedication to the quality of the guest experience. Because of their work, the water park located in New Braunfels has been recognised as the ‘Best Water Park in the World’ for 21 straight years, and Galveston has received recognition as the ‘Best Indoor Water Park in the World’ for a decade.

“We look forward to adding these parks to Cedar Fair’s industry-leading portfolio of regional entertainment resorts,” Zimmerman added.