Cedar Fair looks to build more indoor waterparks

Saturday, 23 July 2005

By BRANDI BARHITE
brandibarhite@sanduskyregister.com

MUSKEGON, Mich. - Cedar Fair LP would consider building another indoor waterpark at one of its properties because of the success of Cedar Point's Castaway Bay.

Among the possible properties is Michigan's Adventure in Muskegon, Mich., although it hasn't been earmarked for such a project, said Vice President and Corporate Controller Brian Witherow.

Thursday, Witherow and Cedar Fair CEO and president Dick Kinzel met for a board of trustees at Michigan's Adventure.

"I think any property that has the available land necessary and the demographics would be considered," Witherow said. "Not saying Michigan's Adventure is earmarked for that, but we are evaluating a number of activities and Michigan's Adventure might be a place that would work."

Stacy Frole, director of investor relations, said Cedar Point's Castaway Bay has been successful, pointing to first quarter results.

With the help of its new year-round Castaway Bay indoor waterpark, Cedar Fair increased its net revenues for the first quarter of 2005 by 7 percent or $24.8 million compared to last year.

In the press release, Kinzel said Castaway Bay, formerly a Radisson Hotel, used to lose money for Cedar Fair during the off-season, but now isn't.

Castaway Bay, a 38,000 square-foot facility, opened in November.

Besides Castaway Bay, Cedar Fair's only other year-round operation is Knott's Berry Farm near Los Angeles in Buena Park.

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