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.”