Dorney Park parent company reports record third quarter revenues | WFMZ

The increase in revenues for the quarter was the result of a 2 percent increase in average per capita spending, offset slightly by a less than 1 percent decrease in attendance and a 4 percent decrease in out-of-park revenues, including resort accommodations, when compared with 2016’s third quarter.

As a result of the gains, Cedar Fair’s board of directors declared a 4 percent increase in the company’s quarterly cash distribution to $0.89 per limited partner unit, payable Dec. 15, 2017. This distribution represents an annualized rate of $3.56 per limited partner unit and a more than 5.5 percent yield at current market prices.

“This is an exciting and transformative period for Cedar Fair,” said Richard Zimmerman, Cedar Fair’s president and chief operating officer. “Our guests find great value in our immersive entertainment offerings. We will focus on driving demand in attendance and growing guest spending through compelling marketing campaigns and dynamic pricing strategies.”

Zimmerman said the strength of the company’s business model and demand for its products generate a significant amount of free cash flow that allows it to invest in its business for both the short and long term. Going forward, the company expects to spend approximately 10 percent of its revenues on marketable new rides, attractions and park infrastructure on an annual basis.

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Dorney Park parent company reports record third quarter revenues – WFMZ.