Cedar Fair Corporate Development Discussion Thread (FUN)

[Fooz]

Cedar Fair is putting in a good number of VR coasters, right? Interesting to imagine which rides will get the treatment now the Six Flags is putting them on a lot of their most intense rides. Will they follow Six Flags' free model, or do an upcharge?

[DorneyKid14]

http://video.cnbc.com/gallery/?video=3000501654

 

Pretty cool video here talking about CF stock. Matt Ouimet said that they just filed zoning paper work for Great America, and that Knotts passed the 5 million visitors for the year!!

[XSupremacy]

I just noticed that they call cga Great adventure in the video.

[Coasterguy21]

It seems like now is a good time to pick some more CF stock.

 

California's Great America is getting a great shot now and Knott's passing 5 million is just great.

 

With that said, check out this article about the "New Book" that Cedar Fair is writing: http://www.iaapa.org/news/funworld/funworld-magazine/cedar-fair-writes-a-new-book---april-2016

 

A few highlights:

-The VR Coaster Experiences are still being tested. Ouimet wants more testing done before the decision is made to include VR on existing attractions or not.

-The chain is NOT opposed to "experimenting". Experimenting is how to keep on top of the latest technology.

-2015 was the company's sixth consecutive year of record profits and growth. Ouimet is "extremely optimistic" about 2016.

-Each park has its own "brand". That's why you won't see too many parks like others in the chain. Each has its own customer/fanbase and the park should be designed around that. Due to that, Knott's has taken a step back from "trying" to be a thrill park and is focusing on providing a unique Southern California experience for families and thrillseekers alike (hence Iron Reef and all the refurbs).

-They have found Carowinds strength in playing the local market as well as attracting outsiders. That's why all of the build-up is happening.

-Cedar Point's brand identity is "Roller Coaster Capital of the World" and that will not change. But, in off years when coasters are not being built, changes in infrastructure and such that will make the park more family friendly will be planned. Thrills aren't going away, but emphasis needs to be put on better customer experiences.

-Ouimet believes that IP will help digital attractions become more cost-effective. For this reason, Electronic Arts (and maybe some more) will probably be the basis for many more dark rides/attractions in the chain in the future. IP is not believed to be necessary for coasters at this time.

-Constant changes and upgrades for Food & Beverage in park are ongoing every year. Higher-level chefs were hired. This has to be top quality for parks is the belief.

-The Season Pass Dining Deal is a hit. So much so that people who live in the vicinity of the park decide to stop by, ride a few rides and have dinner just like a usual night out.

-Seasonal Events continue to be a powerhouse for the chain. This is why California's Great America will have its WinterFest this year and more parks may see such an event in the future.

-Emphasis on upgrading resort properties and campgrounds at parks will be a focus. The extended stay aspect is a heavy focus for the chain. New hotels may even be thought up in the future.

[jarmor]

SANDUSKY — Cedar Fair LP, the owner of Cedar Point and 10 other amusement parks, likes its CEO Matt Ouimet and said Wednesday it plans to keep him around indefinitely.

Under CEO Matt Ouimet’s leadership, Cedar Fair’s stock has tripled to nearly $60 a share

 

The company held its annual shareholders meeting in Minneapolis at a hotel at the Mall of America.

 

Afterward, the company announced it had entered into a contract extension with Mr. Ouimet, 58, that has no designated expiration date.

Cedar Fair’s current contract with Mr. Ouimet was to expire at the end of this year. He joined the amusement park chain, which also owns four water parks and five hotels, as its president in June, 2011, coming from Corinthian Colleges, a publicly held company that provides post-secondary technical, trade, and professional degree programs. He became Cedar Fair’s chief executive officer in January, 2012.

 

Under the former Disney executive’s leadership, Cedar Fair’s share price has tripled, going from $22.80 a share when he took over to nearly $60 a share recently. It closed Wednesday at $59.08 a share, up 39 cents on the New York Stock Exchanged.

 

Eric Affeldt, Cedar Fair’s board chairman, said the contract extension was well-deserved.

 

“Under Matt’s guidance, Cedar Fair has delivered record performance on all meaningful metrics,” he said. “He has assembled an impressive leadership team, championed creative innovation that enhances the guest experience, created substantial value for our investors and positioned the company for continued growth in the future.”

Cedar Fair spokesman Stacy Frole said the contract extension contains no significant changes from Mr. Ouimet’s previous contract but it has no expiration deadline.

 

The contract extension does not affect Mr. Ouimet’s compensation package, which is outlined in the company’s executive compensation plan.

 

In 2015 he received $9.3 million in compensation that included a base salary of $961,840, an incentive bonus of $1.7 million, and stock awards equaling $6.6 million. In 2014, his compensation was $11.6 million.

 

In a statement, Mr. Ouimet said he was pleased to receive the extension.

 

”I appreciate the opportunity Cedar Fair has given me and look forward to working with the board of directors, our leadership team and all of our associates to create even more fun for those we serve,” he said.

Source . . .

[jarmor]

Double post, sorry . . .

 

With a lot of Cedar Fair parks announcing their 2017 capital expansions it seems the chain is being more conservative and investing more in the experience vs multiple coasters. It also seems they are realizing that investing in water parks are the way to go. I wonder if the coaster era of parks of yesterday are gone and the focus has been reshifted to other things?

[livai]

I see a very poor year for Cedar Fair parks. attractions older than 30 years passed off as new, as patriot to great america. Winterfest (on paper) a flop announced

[PhantomPoster32]

I see a very poor year for Cedar Fair parks. attractions older than 30 years passed off as new, as patriot to great america. Winterfest (on paper) a flop announced

 

Speak for yourself. Back before Hunt Midwest sold Worlds of Fun to Cedar Fair, the park got a new attraction in both Worlds of Fun and Oceans of Fun each year. That usually meant a new flat ride and a new water slide/splash feature. I have absolutely no problem with the addition of a Troika and and a Condor to the park's line up. Both attractions are unique to the area and they will add to one of the best flat ride collections in the country.

 

Winterfest is a wait and see. Obviously since it is 2 years out (for all intents and purposes) WOF will have time to figure out exactly how they want to approach this. With the best amusement park Christmas festival in the country being just down the road at SDC, they'll have to figure out their niche instead of trying to go head-to-head with SDC completely.... and we know that the WOF event will be better done than whatever SF is adding for this year

[djackson]

I see a very poor year for Cedar Fair parks. attractions older than 30 years passed off as new, as patriot to great america. Winterfest (on paper) a flop announced

 

Speak for yourself. Back before Hunt Midwest sold Worlds of Fun to Cedar Fair, the park got a new attraction in both Worlds of Fun and Oceans of Fun each year. That usually meant a new flat ride and a new water slide/splash feature. I have absolutely no problem with the addition of a Troika and and a Condor to the park's line up. Both attractions are unique to the area and they will add to one of the best flat ride collections in the country.

 

Winterfest is a wait and see. Obviously since it is 2 years out (for all intents and purposes) WOF will have time to figure out exactly how they want to approach this. With the best amusement park Christmas festival in the country being just down the road at SDC, they'll have to figure out their niche instead of trying to go head-to-head with SDC completely.... and we know that the WOF event will be better done than whatever SF is adding for this year

 

So most of six flags St. Louis for holiday in the park vs a couple of rides at worlds of fun. I think I'd take Six flags

[PhantomPoster32]

I see a very poor year for Cedar Fair parks. attractions older than 30 years passed off as new, as patriot to great america. Winterfest (on paper) a flop announced

 

Speak for yourself. Back before Hunt Midwest sold Worlds of Fun to Cedar Fair, the park got a new attraction in both Worlds of Fun and Oceans of Fun each year. That usually meant a new flat ride and a new water slide/splash feature. I have absolutely no problem with the addition of a Troika and and a Condor to the park's line up. Both attractions are unique to the area and they will add to one of the best flat ride collections in the country.

 

Winterfest is a wait and see. Obviously since it is 2 years out (for all intents and purposes) WOF will have time to figure out exactly how they want to approach this. With the best amusement park Christmas festival in the country being just down the road at SDC, they'll have to figure out their niche instead of trying to go head-to-head with SDC completely.... and we know that the WOF event will be better done than whatever SF is adding for this year

 

So most of six flags St. Louis for holiday in the park vs a couple of rides at worlds of fun. I think I'd take Six flags

 

I didn't realize they had released the ride line up for an event that will take place in 2017 (they haven't). BUT, if that makes you feel better about being a SFStL fanboy, then more power to you

[djackson]

I see a very poor year for Cedar Fair parks. attractions older than 30 years passed off as new, as patriot to great america. Winterfest (on paper) a flop announced

 

Speak for yourself. Back before Hunt Midwest sold Worlds of Fun to Cedar Fair, the park got a new attraction in both Worlds of Fun and Oceans of Fun each year. That usually meant a new flat ride and a new water slide/splash feature. I have absolutely no problem with the addition of a Troika and and a Condor to the park's line up. Both attractions are unique to the area and they will add to one of the best flat ride collections in the country.

 

Winterfest is a wait and see. Obviously since it is 2 years out (for all intents and purposes) WOF will have time to figure out exactly how they want to approach this. With the best amusement park Christmas festival in the country being just down the road at SDC, they'll have to figure out their niche instead of trying to go head-to-head with SDC completely.... and we know that the WOF event will be better done than whatever SF is adding for this year

 

So most of six flags St. Louis for holiday in the park vs a couple of rides at worlds of fun. I think I'd take Six flags

 

I didn't realize they had released the ride line up for an event that will take place in 2017 (they haven't). BUT, if that makes you feel better about being a SFStL fanboy, then more power to you

 

I'm not a sfstl fanboy. Never been there. And based on the given information that must make you a WoF fanboy but anyways All I'm saying is that based on the other cf parks they have said they will do a few rides but not a lot.

[livai]

as you are a fan of WOF.

said this: I would never go into a park for the Christmas lights and a few shows.

I demand open attractions

[Jew]

as you are a fan of WOF.

said this: I would never go into a park for the Christmas lights and a few shows.

I demand open attractions

 

Great. You won't visit. But you know who will? Families who want to see professional X-mas lights and holiday specific shows/characters.

[PhantomPoster32]

I see a very poor year for Cedar Fair parks. attractions older than 30 years passed off as new, as patriot to great america. Winterfest (on paper) a flop announced

 

Speak for yourself. Back before Hunt Midwest sold Worlds of Fun to Cedar Fair, the park got a new attraction in both Worlds of Fun and Oceans of Fun each year. That usually meant a new flat ride and a new water slide/splash feature. I have absolutely no problem with the addition of a Troika and and a Condor to the park's line up. Both attractions are unique to the area and they will add to one of the best flat ride collections in the country.

 

Winterfest is a wait and see. Obviously since it is 2 years out (for all intents and purposes) WOF will have time to figure out exactly how they want to approach this. With the best amusement park Christmas festival in the country being just down the road at SDC, they'll have to figure out their niche instead of trying to go head-to-head with SDC completely.... and we know that the WOF event will be better done than whatever SF is adding for this year

 

So most of six flags St. Louis for holiday in the park vs a couple of rides at worlds of fun. I think I'd take Six flags

 

I didn't realize they had released the ride line up for an event that will take place in 2017 (they haven't). BUT, if that makes you feel better about being a SFStL fanboy, then more power to you

 

I'm not a sfstl fanboy. Never been there. And based on the given information that must make you a WoF fanboy but anyways All I'm saying is that based on the other cf parks they have said they will do a few rides but not a lot.

 

Eric said on their Facebook page (WOF) that the park would have around 20 attractions open but the final list of rides has not been confirmed. I would imagine that decision will not be made until next year.

[coasterbill]

For everyone hating on Six Flags I just want to remind you all (again) that they have nothing to do with the decorations. They're done by an independent contractor called Oak Island Creative and they're exceptional.

 

I think it's realistic to assume that Six Flags will run more thrill rides based on what Cedar Fair has shown so far (even at Great America where it seems they're only running Gold Striker despite the mild climate) and Cedar Fair has already shown that they'll adhere strictly to manufacturers temperature guidelines while Six Flags will push the coasters to the limit like they did at Great Adventure. The press release from Worlds Of Fun implies that the rides are not the focus but at Six Flags they've shown that they're a major priority at their other Holiday events.

 

If I had to guess, I'd say that Six Flags will put on an event that appeals more to enthusiasts than World's of Fun. We don't know for sure but it's a reasonable assumption. Enthusiasts are not the target market though.

[PhantomPoster32]

For everyone hating on Six Flags I just want to remind you all (again) that they have nothing to do with the decorations. They're done by an independent contractor called Oak Island Creative and they're exceptional.

 

I think it's realistic to assume that Six Flags will run more thrill rides based on what Cedar Fair has shown so far (even at Great America where it seems they're only running Gold Striker despite the mild climate) and Cedar Fair has already shown that they'll adhere strictly to manufacturers temperature guidelines while Six Flags will push the coasters to the limit like they did at Great Adventure. The press release from Worlds Of Fun implies that the rides are not the focus but at Six Flags they've shown that they're a major priority at their other Holiday events.

 

If I had to guess, I'd say that Six Flags will put on an event that appeals more to enthusiasts than World's of Fun. We don't know for sure but it's a reasonable assumption. Enthusiasts are not the target market though.

 

Does OIC do the Texas parks? I was rather underwhelmed by what they did in those two parks. In fact I would say that the former Summer Light Show at WOF was a superior product - especially the Europa part.

 

In the end, I'm all for longer seasons for parks. It makes the "off season" shorter - which is always a good thing

[coasterbill]

I believe they do but at the same time budget does come into play. Those parks are fully open (for the most part) so they may be spread a little thin, but at the smaller events and parks where they close some sections and load up the other areas with decorations they really do a great job.

 

The HFE lights are slightly better but not by much. They're absolutely in the same league. I was blown away by Great Adventure's event.

[PhantomPoster32]

I believe they do but at the same time budget does come into play. Those parks are fully open (for the most part) so they may be spread a little thin, but at the smaller events and parks where they close some sections and load up the other areas with decorations they really do a great job.

 

The HFE lights are slightly better but not by much. They're absolutely in the same league. I was blown away by Great Adventure's event.

 

At SFFT, they have the area from Roadrunner/Iron Rattler over to the kiddie area closed during the event.

At SFoT, they had Gotham City, the hill and I'm pretty sure Judge Roy Scream closed during the event.

 

SDC is by far the best holiday park lights I've seen. They cover all of the buildings in lights there. DW does well on Showstreet but pretty much stops or does a bare minimum on the rest of the park.

 

It will be interesting to see how the CF parks compare.

[livai]

Great. You won't visit. But you know who will? Families who want to see professional X-mas lights and holiday specific shows/characters.

sure ? I do not believe that families be content with a few shows and some Christmas light. Also europe park was left with few attractions, and many shows. but quickly changed his mind.

europe park is above all Cedar Fair parks

 

 

I think it's realistic to assume that Six Flags will run more thrill rides based on what Cedar Fair has shown so far (even at Great America where it seems they're only running Gold Striker despite the mild climate) and Cedar Fair has already shown that they'll adhere strictly to manufacturers temperature guidelines while Six Flags will push the coasters to the limit like they did at Great Adventure.

 

are you sure sure to go six flags face the mountains and they forgot the limits imposed by the manufacturer? mha

[coasterbill]

 

I think it's realistic to assume that Six Flags will run more thrill rides based on what Cedar Fair has shown so far (even at Great America where it seems they're only running Gold Striker despite the mild climate) and Cedar Fair has already shown that they'll adhere strictly to manufacturers temperature guidelines while Six Flags will push the coasters to the limit like they did at Great Adventure.

 

are you sure sure to go six flags face the mountains and they forgot the limits imposed by the manufacturer? mha

 

I'd love to respond to this but it's so poorly written that I have no idea what you're even trying to say.

 

I believe they do but at the same time budget does come into play. Those parks are fully open (for the most part) so they may be spread a little thin, but at the smaller events and parks where they close some sections and load up the other areas with decorations they really do a great job.

 

The HFE lights are slightly better but not by much. They're absolutely in the same league. I was blown away by Great Adventure's event.

 

At SFFT, they have the area from Roadrunner/Iron Rattler over to the kiddie area closed during the event.

At SFoT, they had Gotham City, the hill and I'm pretty sure Judge Roy Scream closed during the event.

 

SDC is by far the best holiday park lights I've seen. They cover all of the buildings in lights there. DW does well on Showstreet but pretty much stops or does a bare minimum on the rest of the park.

 

It will be interesting to see how the CF parks compare.

 

I'm honestly comparing Six Flags to Dollywood as I haven't been to SDC so the lights may be a step up at SDC based on your description. I think you'll be surprised with Six Flags though. Initially I thought the lights would be complete crap because I consider their other seasonal event (Fright Fest) to be a complete joke and one of the worst events of it's kind anywhere. Because of that my expectations were low but I was blown away.

 

It's possible though that even if SDC is better, Six Flags might offer something unique. For example, Great Adventure has a huge pixel mapped tree in front of the park (actually the world's largest) that's really amazing. HFE has never done anything that, so it's nice to see some different approaches to decorating.

 

 

So for me it's a toss up. The decorations at HFE parks will be slightly better, the shows will be infinitely better and Six Flags won't even try to compete. As far as rides though I give Six Flags the edge for their incredibly lenient policies. If I were between SDC, Six Flags and Worlds of Fun on a sunny 35 degree day, I'd be going to Six Flags because they'd be running coasters.

 

The two events are different but I really hate to compare them. I think they're both great. It'll be interesting to see what Worlds of Fun brings to the table but they're up against some stiff competition with Six Flags and SDC so they better bring their A game. Hopefully the competition makes them all better. Great Adventure forced Hershey to open coasters at Christmas Candylane for the first time ever (One was Laff Trakk which barely counts but they added SooperDooperLooper and Wildcat and are rumored to be adding more next year) so we're already seeing how added competition can make everyone try to one-up eachother for their holiday events.

Edited August 19, 2016 by coasterbill

[Hilltopper39]

This may have mentioned but it seems to be a pretty light year investment wise in 2017 for all parks. What one major coaster from Cedar Fair which is a GCI (should be a great ride but not the same level of investment as a B&M), and no major coasters announced thus far from Six Flags? I know Six Flags hasn't made their official announcements yet but there are usually some clues out there for major projects (footers, earth work, leaked fake aquatrax layouts etc.) by this time of year, but the whole chain seems fairly quiet on 2017 projects. That doesn't mean they don't exists just that they might be a little lighter on the pocket book than in years past.

[coasterbill]

This may have mentioned but it seems to be a pretty light year investment wise in 2017 for all parks. What one major coaster from Cedar Fair which is a GCI (should be a great ride but not the same level of investment as a B&M), and no major coasters announced thus far from Six Flags? I know Six Flags hasn't made their official announcements yet but there are usually some clues out there for major projects (footers, earth work, leaked fake aquatrax layouts etc.) by this time of year, but the whole chain seems fairly quiet on 2017 projects. That doesn't mean they don't exists just that they might be a little lighter on the pocket book than in years past.

 

Cedar Point is actually investing a ton of capital, just not in overly exciting ways. They're building a huge sports complex to bring more families into Sandusky, they're adding an entirely new wing to Hotel Breakers with 158 new rooms / family suites, they're adding 69 rooms and a new wing to Breakers Express and giving the entire hotel general upgrades and they have the new slide complex and family pool also. This investment is minor by comparison but their blueprints they showed off yesterday don't include Ripcord so they're probably paying to relocate that too. None of that is exciting to most people but it's very expensive when you put it all together.

 

Also. I have a hunch that there's more on the horizon. There are now 2 wood coasters in the chain just sitting there with nothing announced. Kings Dominion is making their announcement in a theater on Saturday in front of 500 passholders. I think at this point it's reasonable to expect an RMC conversion of Hurler which has been sitting there all year, closed for maintenance which isn't visibly happening anywhere. It's not like they're doing an announcement on this scale to announce a GCI retracking and Plants Vs. Zombies. If so that would be a major letdown.

 

And then you have Mean Streak which probably won't be a 2017 addition but may have work going on all through the year if the RMC rumors are true (and so far that seems entirely likely with markings on footers and an early closure). I think in a few weeks we'll have a better idea of where their capital is going.

Edited August 19, 2016 by coasterbill

[boldikus]

are you sure sure to go six flags face the mountains and they forgot the limits imposed by the manufacturer? mha

[Hilltopper39]

^^Yeah, that's true, I kinda forgot about the hotel expansion but strictly speaking about new attractions it seems like 2017 might be light by comparison. Then again I guess Valraven was the only major coaster that was opened chain wide in 2016 so maybe it's not all that different.

 

Is the sports complex being entirely funded/developed/operated by Cedar Fair or is that a joint venture of some type? I haven't heard much about that project since it was announced.

[coasterbill]

Is the sports complex being entirely funded/developed/operated by Cedar Fair or is that a joint venture of some type? I haven't heard much about that project since it was announced.

 

I know they're footing a major portion of the bill but I'm not entirely sure. That's a question for someone like DirkFunk who knows way more about this type of thing than I do.