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Knott's gives tourists a price break.
Wednesday, March 1, 2006
Knott's gives out-of-towners admission deal
Amusement park cuts its adult ticket price for guests outside of Southern California to $39.95 from $45. Price for locals stays unchanged at $31.
By ANDREW GALVIN
The Orange County Register
Knott's Berry Farm is cutting its adult admission price for out-of-town guests to $39.95 from $45 starting today, taking a different strategy than the Disneyland Resort, which has raised prices four times in two years.
Knott's prices for Southern California residents remain unchanged at $31 for adults. Children age 3 to 11 and senior citizens pay $14.95, whether they are local residents or tourists.
Knott's price cut is part of a company-wide strategy at Ohio-based parent company Cedar Fair LP, which believes it can boost revenue by charging less at the gate.
"It does make sense because the price elasticity is probably such that at the lower price point they'll make it up in volume," said Robert Routh, an analyst at Jeffries & Co. who tracks and owns stock in Cedar Fair. "If they can get more people in the door, they can increase their in-park spending. That's their game plan."
The park achieved a slight increase in attendance last year compared with the 3.5 million who visited in 2004, said Gregg Picon, Knott's general manger.
A strong Halloween Haunt helped make up for a poor start to the year, when a wet winter held down attendance, he said.
Knott's will hold food and beverage prices steady while cutting cotton candy to 25 cents, Picon said. In mid-April, the park will add a Johnny Rockets restaurant, the 1950s-style burger chain's largest, to its Boardwalk area.
Knott's last raised its adult admission price for tourists in 2004. Since then, it has cut prices for seniors and children, hoping to capitalize on a trend of baby boomers traveling with their grandchildren, Picon said.
Meanwhile, the Disneyland Resort has been boosting its daily admission price, most recently by $3 in January. Disneyland now charges $59 for adults and $49 for children age 3 to 9. Through April 27, Southern California residents can visit Disneyland and Disney's California Adventure on different days for the price of a one-day admission.
Disneyland drew an estimated 14.5 million people in 2005, an 8.5 percent increase over 2004, according to Amusement Business magazine.
http://www.ocregister.com/ocregister...le_1021678.php
Knott's gives out-of-towners admission deal
Amusement park cuts its adult ticket price for guests outside of Southern California to $39.95 from $45. Price for locals stays unchanged at $31.
By ANDREW GALVIN
The Orange County Register
Knott's Berry Farm is cutting its adult admission price for out-of-town guests to $39.95 from $45 starting today, taking a different strategy than the Disneyland Resort, which has raised prices four times in two years.
Knott's prices for Southern California residents remain unchanged at $31 for adults. Children age 3 to 11 and senior citizens pay $14.95, whether they are local residents or tourists.
Knott's price cut is part of a company-wide strategy at Ohio-based parent company Cedar Fair LP, which believes it can boost revenue by charging less at the gate.
"It does make sense because the price elasticity is probably such that at the lower price point they'll make it up in volume," said Robert Routh, an analyst at Jeffries & Co. who tracks and owns stock in Cedar Fair. "If they can get more people in the door, they can increase their in-park spending. That's their game plan."
The park achieved a slight increase in attendance last year compared with the 3.5 million who visited in 2004, said Gregg Picon, Knott's general manger.
A strong Halloween Haunt helped make up for a poor start to the year, when a wet winter held down attendance, he said.
Knott's will hold food and beverage prices steady while cutting cotton candy to 25 cents, Picon said. In mid-April, the park will add a Johnny Rockets restaurant, the 1950s-style burger chain's largest, to its Boardwalk area.
Knott's last raised its adult admission price for tourists in 2004. Since then, it has cut prices for seniors and children, hoping to capitalize on a trend of baby boomers traveling with their grandchildren, Picon said.
Meanwhile, the Disneyland Resort has been boosting its daily admission price, most recently by $3 in January. Disneyland now charges $59 for adults and $49 for children age 3 to 9. Through April 27, Southern California residents can visit Disneyland and Disney's California Adventure on different days for the price of a one-day admission.
Disneyland drew an estimated 14.5 million people in 2005, an 8.5 percent increase over 2004, according to Amusement Business magazine.
http://www.ocregister.com/ocregister...le_1021678.php
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