Cedar Fair Entertainment Company (NYSE: FUN), parent company of Buena Park’s Knott’s Berry Farm, reported year-to-date preliminary revenues through Labor Day weekend resulting in $1.37 billion across its portfolio.
Cedar Fair credited the record figures to high levels of in-park per capita spending of $61.11 and out-of-park revenues of $163 million. With 15 properties across 10 states and Canada, the company reported a total of 20.5 million guests through the holiday weekend.
“Despite weather challenges in several key markets, particularly over this past weekend, our operating trends have been consistently strong throughout the peak summer months, with performance during the critically important period between the Fourth of July and Labor Day in line with our expectations,” Chief Executive Richard A. Zimmerman said in a statement.
Zimmerman also noted that attendance is recovering to pre-pandemic levels in the parks. Average daily attendance during the five-week period ended Monday grew 5% compared to a year ago.
Knott’s is Cedar Fair’s only year-round park and was acquired in 1997. Shares of the Ohio-based entertainment operator rose 4.6% during midday trading to $43.75 with a market cap of $2.5 billion.
