Major US theme park company Cedar Fair remains optimistic, despite a huge decrease in revenues in 2020 at its 13 parks across North America.
The company reports that for the full year to December 31 revenues totalled $182m, compared with $1.47bn in 2019. The downturn was a direct result of the 25.3 million decrease in footfall and a $101m fall in out-of-park revenues.
In-park per capita spending decreased by four per cent to $46.38 compared with $48.32 in the previous year.
CEO Richard Zimmerman said: “We are optimistic that levels of attendance will significantly improve in 2021 as vaccines become broadly available. Anticipating improving demand, we are poised to resume normal operations, particularly during our seasonally stronger back half of the year.”
The group suspended operations on March 14, 2020, resuming partial reopening at 10 locations in mid-June. But in all the company had 487 days of operation compared with 2,223 in 2019.
It suffered an operating loss of $572m compared with a positive $309m in 2019 and a net loss of $590m compared with 2019 income of $172m.
