Press Release: Cedar Fair, L.P.
June 4, 2001
SANDUSKY, OH -- Cedar Fair, L.P. (NYSE: FUN), a publicly traded partnership which owns and operates six amusement
parks and five water parks, June 1 reported that poor early-season weather has caused attendance at its parks through
the first five months of the year to decrease 7% from a year ago. Over the same period, in-park guest per capita
spending remained essentially flat.
Richard L. Kinzel, president and chief executive officer, noted that the 2001 figures do not include results from
the Partnership's two newest properties, Michigan's Adventure and Oasis Water Park, both of which were acquired
at the end of May.
``Although early-season attendance has not met our internal expectations, we are pleased with the initial response
from guests to the new rides, attractions and resort facilities we added this year at our parks,'' said Kinzel.
``Unfortunately, very cool temperatures and frequent rain throughout much of the early part of the season has led
to lower than expected attendance at several of our parks, including Cedar Point, which had 13 of its first 27
operating days impacted by rain, compared to only 6 in May of 2000. However, with approximately 90% of the annual
attendance at our seasonal parks still to come over the next three months, we remain confident that our 2001 attendance
and revenue goals are still within reach.''
Kinzel concluded by noting that virtually all of Cedar Fair's revenues from its seasonal amusement parks and water
parks are realized during a 130-day operating period beginning in early May, with the major portion concentrated
in the peak vacation months of July and August. Knott's Berry Farm is open year-round but also operates at its
highest level of attendance in the third quarter of the year.
Cedar Fair's six amusement parks are Cedar Point, located on Lake Erie between Cleveland and Toledo; Knott's Berry
Farm near Los Angeles in Buena Park, California; Dorney Park & Wildwater Kingdom near Allentown, Pennsylvania;
Valleyfair near Minneapolis/St. Paul; Worlds of Fun, located in Kansas City, Missouri; and Michigan's Adventure
near Muskegon, Michigan. The Partnership's water parks are located in Chula Vista, California, near San Diego,
and Palm Springs, California; and adjacent to Cedar Point, Knott's Berry Farm and Worlds of Fun. Cedar Fair also
operates Knott's Camp Snoopy at the Mall of America in Bloomington, Minnesota under a management contract.
SOURCE: Cedar Fair, L.P.