The Pandemic Reset Will Lead the Attractions Industry to Bright Times

Cedar Fair is one of the world’s leading regional park companies, owning and operating 11 amusement parks, four water parks, and two sports destinations. Its parks welcome about 28 million guests annually and generate more than $1.3 billion in revenue. The company’s president and CEO, Richard Zimmerman, was the keynote speaker at Wednesday’s GM and Owners’ Breakfast. He spoke about the five key lessons Cedar Fair learned during the COVID-19 pandemic and why the attractions industry has a bright outlook.

Before becoming Cedar Fair president and CEO in 2018 and a director in 2019, he served the company in other roles, including chief operating officer, executive vice president, and regional vice president. From 1998 to 2007, he was vice president and general manager of Kings Dominion, one of Cedar Fair’s regional parks. 

“In many respects,” he began, “I think the pandemic was our industry’s finest hour. In 2020, I termed the pandemic as ‘the great reset.’ It was an opportunity for us to rethink our strategies and values to benefit our guests. How do we attract people to our parks? How do we generate more revenue outside of parks? How do we incorporate race, diversity, equity, and inclusion?”

Zimmerman then listed the five main lessons Cedar Fair learned during the pandemic and elaborated on them. “Lesson one was to be nimble, move quickly, adapt, and operate safely in a disrupted environment,” he said. “Constant communication is critical. Our employees were asking us about whether they still had jobs. We didn’t do layoffs or furloughs during the pandemic.”

He said lesson two involved retooling for the future and thinking through the company’s long-term strategies. It didn’t want to just react, but rather, think of where the guest and employee experience is heading. 

Lesson three was to leverage scale while focusing on high-value areas. This included establishing new capabilities, strengthening key functions, and continuing to build digital interactions with guests. Key points included, standardizing what and how the company buys, as well as building and deploying best-in-class marketing.

Cedar Fair’s lesson four was making guest and associate experiences a top priority. “People in parks want time away from computers and cell phones and to experience something unique,” Zimmerman said. He stressed that the company also celebrates its regional brands because they are so meaningful to guests.

Lesson five was that community partnerships are more important than ever. He outlined a partnership Cedar Fair entered with Bowling Green State University a decade ago. During the pandemic, the company and the university launched a Resort and Attractions Management School that will eventually involve 100 juniors and 100 seniors.  

“As a result of the pandemic, consumers are prioritizing experiences over possessions,” he said. “Limited duration events that drive urgency let you program all four seasons of the year. I’ve never had more confidence in our business than I do today. Our industry has a bright future because we have lifetime customers. Our appeal is generational, and when our guests have kids, the cycle starts all over again.”

• Watch a recap of the GM and Owner's Breakfast from Show Daily TV here.