Online Journal: Amusement parks have started to rebound from the economic recession, drawing new crowds and spending more on new attractions.
According to Forbes, crowds at many parks across the United States increased last year, with some amusement parks breaking attendance records. Profits shot up as some families began traveling again while others looked for recreational activities that were close to home.
The two biggest operators of regional amusement parks, Texas-based Six Flags Entertainment Corp. and Ohio-based Cedar Fair Entertainment Co., each reported that attendance was up nationwide in 2010. Other parks across the country also reported at least modest gains.
While amusement parks are sometimes thought of as recession-proof because they offer families a full day of entertainment at a relatively affordable price, business at parks took a steep dive in 2008 and 2009. Desperate to pay off large debts, several companies made moves to sell parks.
But this year attendance was up by just under 1 million at Six Flags' 19 North American parks, for a combined total of 24.3 million visitors. Six Flags says this was partly due to the growing success of their Halloween and Christmas events, with over half of its attendance increase came during the last three months of 2010. In 2010 amusement park visitors also spent more cash on cotton candy, hot dogs and souvenirs.
The news was more mixed for Walt Disney Co., the largest amusement park operator in the United States. The company reported that attendance was up at Disneyland in California, but declined at Walt Disney World resort in Florida in 2010. But one of Disney's main competitors, Universal Orlando, had a big spike in attendance with the opening of The Wizarding World of Harry Potter attraction.
Forbes said that warmer weather in the summer and fall of 2010 also made a difference. 2008 and 2009 had been unusually rainy and cold, keeping the crowds away.
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