Cedar Point hotel properties to get multi-year investment

Cedar Fair to invest as much as $60 million over three years in hotel improvements, as well as technology upgrades at parks lacking solid infrastructure.

Tuesday, 06 November 2012

Editor's Note: This article has been updated to include information on employee dormitory relocation and modernization at Cedar Point.

Cedar Fair CEO Matt Ouimet said in a conference call today that the company will invest between $45 million and $60 million over the next three years on improvements that will will include upgrades to Cedar Point's hotel properties.

Ouimet said the company believes there is an opportunity to enhance the resort guest experience and provide room inventory that supports a "good, better, best" segmented pricing strategy. The investment to expected to extend the length of stay of guests and will protect the performance of the company's most profitable park.

"The refreshment of our hotels at Cedar Point is a combination of protecting the base and providing growth through some segmented room inventory," Ouimet said on the call.

Ouimet also indicated the company will look to relocate and modernize the employee dormitories at Cedar Point, saying it would free up highly valuable space on the peninsula for future development.

The investment will also include technology upgrades at Knott's Berry Farm, Valleyfair, Worlds of Fun and Great America.