Thursday, February 18, 2016

Cedar Fair's (FUN) CEO Matthew Ouimet on Q4 2015 Results - Earnings Call Transcript

While we did experience growth broadly across the portfolio. I want to take a minute to highlight three of our best performing assets, Knott's Berry Farm, Carowinds and Cedar Point. Knott's Berry Farm, along with its adjacent water parks Soak City, let the growth this year, entertaining more than five million guests. Applying the excellent brand positioning work that we completed four years ago, we have reinvigorated this parks legacy, delivering fun for all generations.

Over the past two years, I've discussed with you how Knott's was a unique property. And it was important to understand its rich history and how it evolved from a simple Berry Farm into America's first theme park. We have fully embraced this history with the addition of our very popular Boysenberry Festival, the refurbishment of iconic rides like Timber Mountain Log Ride, the Mine Ride and the current work on Ghost Rider, a world-renowned wooden roller coaster.

We've also included modern elements such as Voyage to the Iron Reef and the interactive digital ride, and several new children's attractions in our Camp Snoopy area. Knott's success serves as a great example of how we connect with guests at all our parks by embracing the history and unique position within the regions they operate.

We are now benefiting from the consumer insights we've gained at Knott's and are applying them to other properties across our portfolio, including Carowinds and Cedar Point.


Read the rest at SeekingAlpha

Knott's News: Entertaining more than 5 million guests is incredibly impressive. Consider this, for the 2014 season, Knott's reportedly brought in 3,684,000 guests and Soak City around 372,000. More than 5 million guests makes a 25% increase year over year, which speaks volumes for their current strategy. One can only hope that with Iron Reef's runaways success there will be bigger and better themed entertainment coming our way.

No comments:

Post a Comment