Cedar Fair Unveils Exciting Plans for 2022 Operating Season
Press Release from Cedar Fair Entertainment Company:
August 12, 2021
SANDUSKY, Ohio--(BUSINESS WIRE)-- Cedar Fair Entertainment Company (NYSE: FUN), a leader in regional amusement parks, water parks and immersive entertainment, today announced exciting plans for the 2022 operating season across all of its properties in the U.S. and Canada. These include a new themed area at Kings Dominion in Virginia, the reopening of two newly refurbished resort properties at Cedar Point in Sandusky, Ohio, and the 50th anniversary celebration at Kings Island in Mason, Ohio. In addition, Cedar Fair plans to introduce several new and upgraded dining venues and to expand its popular festival and event calendars to include something for everyone in the family throughout the year.
“We’re in the business of making people happy, and we are actively investing in our parks to help us deliver the type of fun, immersive experiences that our guests crave and our associates love to provide,” said Cedar Fair President and CEO Richard A. Zimmerman. “Based on positive recent trends and our renewed confidence in the recovery of the business, we now plan to invest between $175-$200 million for the 2022 season to improve the guest experience at our parks. These investments include ongoing renovations at the Castaway Bay and Sawmill Creek resort properties at Cedar Point, as well as the addition of new rides, attractions and guest amenities across our parks in the U.S. and Canada.”
Zimmerman said consumer research continues to reinforce the significance of food and beverage (F&B) and the high-quality menu options Cedar Fair parks offer as essential components of delivering a memorable park experience. As such, the company is investing aggressively for the 2022 season as part of the next phase of significant development in its F&B lineup. Under this plan, Cedar Fair is upgrading and expanding F&B facilities across its portfolio, with new chef-inspired restaurants opening at several parks. The focus is on providing signature menu and beverage items that tap into consumers’ interest for unique flavors and experiences they can’t find anywhere else. In 2021, Cedar Fair has added approximately 20 chefs to its park teams to accommodate the continued growth in its culinary program. In addition, these capital investments will improve the capabilities, technologies and efficiencies of the parks’ food preparation and delivery systems.
Among the highlights of Cedar Fair's capital program for the 2022 operating season:
Kings Dominion is renaming and upgrading the Safari Village area of the park and introducing a new roller coaster in 2022. The new area, Jungle X-Pedition, is set to an exotic archeological dig site and research facility, where explorers can visit the base camp for a bite to eat at a new signature restaurant and shop at an immersive retail location. Around the corner, guests can climb aboard Tumbili, a thrilling roller coaster that suspends riders on either side of the track as the cars flip continuously throughout the ride.
Kings Island will celebrate 50 years of fun, memories and traditions. Guests will join the park in commemorating the landmark anniversary with limited time events, enhanced food offerings and all-new live entertainment – each telling the stories of Kings Island’s first 50 years and sure to delight all ages and create lasting memories. The park will announce more anniversary details in the coming months.
Cedar Point’s full lineup of entertainment returns in 2022 with the popular Frontier Festival at the start of the season, Cedar Point Nights and the Celebrate Spectacular Parade during the heat of the summer and HalloWeekends in the fall. In addition, the park’s Frontier Town will introduce a new chef-inspired signature restaurant that is sure to delight guests throughout the season. On the resort front, the re-imagined Castaway Bay Indoor Waterpark hotel will welcome back families with all-new guest rooms, enhanced amenities, kid-friendly activities and a new take on dining, all intertwined with a whimsical theme that connects sea, land and air. Sawmill Creek by Cedar Point Resorts, located just a short drive from Cedar Point, will be reintroduced as a natural escape ideal for a retreat from the ordinary. The resort will showcase a full renovation of guest rooms, eclectic dining options, golf course upgrades, outdoor amenities and an enhanced convention and meeting space experience. Castaway Bay and Sawmill Creek are scheduled to debut before the 2022 summer season.
Canada’s Wonderland will have four seasons of world-class experiences, events and entertainment for guests of all ages, including a new International Food Festival featuring a diverse menu of culinary tastes, treats and drinks from around the world. In addition, the park will be expanding its culinary offerings in 2022 with the introduction of a multi-level, rustic lodge-restaurant that will be the park’s largest dining facility to date.
Knott’s Berry Farm’s full Seasons of Fun lineup will return in 2022, kicking off with the return of the Peanut’s Celebration, an extended Boysenberry Festival in the spring, the return of Knott’s award-winning summer experience, Ghost Town Alive!, and the festive Knott’s Spooky and Merry Farm closing out the year. The Knott’s Berry Farm Hotel will also undergo a major renovation to its 300+ room onsite resort.
Cedar Fair continues to invest millions of dollars into its two Schlitterbahn Waterpark properties in New Braunfels and Galveston, Texas. The enhancements for the 2022 season will focus on infrastructure and aesthetics throughout the park, including upgraded food locations and attractions. The planned projects will continue to improve the overall guest experience, while maintaining the unique character and iconic Schlitterbahn tradition that guests have treasured for more than 40 years.
In addition, other Cedar Fair parks will offer a full lineup of seasonal events. The wildly popular Grand Carnivale celebration will return to a half-dozen parks next summer, including Carowinds, Dorney Park, Valleyfair and Worlds of Fun. In the fall, parks will offer Halloween-themed special events that are sure to delight adults and kids alike. Six parks will host Tricks & Treats events, with two others hosting Family Halloween. And as the weather turns colder, WinterFest will return to Carowinds, California’s Great America, Kings Dominion, Canada’s Wonderland and Kings Island. This immersive holiday experience is filled with millions of lights, enchanting themes areas, ice-skating, live holiday entertainment, sweet and savory treats, and a variety of additional activities for the entire family.
“Each season we introduce a full slate of new rides and attractions, limited-time special events, and upgraded food and beverage programs,” Zimmerman said. “As we’ve seen across all our parks this summer, consumers are hungry for more, and with season passes now on sale for 2022, we are ready to satisfy their growing appetites for entertainment and family fun.”
For more information about 2022 season passes, please visit www.cedarfair.com and click on your favorite park property.
About Cedar Fair
Cedar Fair Entertainment Company (NYSE: FUN), one of the largest regional amusement-resort operators in the world, is a publicly traded partnership headquartered in Sandusky, Ohio. Focused on its mission to make people happy by providing fun, immersive, and memorable experiences, the Company owns and operates 13 properties, consisting of 11 amusement parks, four separately gated outdoor water parks, and resort accommodations totaling more than 2,300 rooms and more than 600 luxury RV sites. Cedar Fair’s parks are located in Ohio, California, North Carolina, South Carolina, Virginia, Pennsylvania, Minnesota, Missouri, Michigan, Texas and Toronto, Ontario. The Company also operates an additional theme park in California under a management contract.
Forward-Looking Statements
Some of the statements contained in this news release that are not historical in nature constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements as to the Company's expectations, beliefs, goals, and strategies regarding the future. These forward-looking statements may involve risks and uncertainties that are difficult to predict, may be beyond our control and could cause actual results to differ materially from those described in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct, or that the Company's business optimization and growth strategies will achieve the target results. Important factors, including the impacts of the COVID-19 pandemic, general economic conditions, adverse weather conditions, competition for consumer leisure time and spending, unanticipated construction delays, changes in the Company’s capital investment plans and projects and other factors discussed from time to time by the Company in its reports filed with the Securities and Exchange Commission (the “SEC”) could affect attendance at the Company’s parks, as well as the Company's business optimization program, and cause actual results to differ materially from the Company's expectations or otherwise to fluctuate or decrease. Additional information on risk factors that may affect the business and financial results of the Company can be found in the Company's Annual Report on Form 10-K and in the filings of the Company made from time to time with the SEC. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, information, circumstances or otherwise that arise after the publication of this document.