 Righty, so the Cedar Fair conference call had just happened and boy was this one packed with a lot of information. Now the only downside is, if you're not a Canada's Wonderland fan, it wasn't packed with a lot of information about your park. Now I do wanna go over a really juicy tidbit first in the video because that one applies to all parks and they literally revealed their future plans in terms of how much they're gonna spend and what they're gonna spend on and the exact timeframe for the gap years in between coasters at parks. So that's gonna be truly exciting. So I guess I'll go over that first. So Cedar Fair starting in 2022 will be investing about $190 million American into all of its parks. And currently part of that $190 million they spend close to that right now as well. And by the way, for those of you that don't know $190 million will be about 9% of Cedar Fair's revenue in 2022. So that's a really big portion of revenue to be spending on attractions. Currently a part of that $190 million goes into hotel renovations. Not purchasing new hotels that comes out of a different budget for Cedar Fair but hotel renovations. And hotel renovations has been eating away at that $190 million over the last couple of years and will continue to eat away at that $190 million until 2021. Meaning starting in 2022, as they said in the conference call that $190 million will be directly invested into their properties. So there's gonna be huge increase in revenue stream starting in 20 or not revenue stream investment capital investment starting in 2022. So this comes with the announcement that we saw in Q3 that Cedar Fair will be investing in all of their parks every year. And that makes sense. So $190 million spread out amongst all of its parks is about $17 million per park, okay? $17 million excluding the water parks I believe because I think Cedar Fair actually has 13 parks now instead of 11. But that's a lot of money. So that's about $17 million per park and we know that the parks aren't gonna get $17 million each. That's not how it works. This isn't a socialist company. So you're gonna see the money spread out a little more diversely. Now what's even more interesting is they talked about the types of attractions that they're gonna be starting to purchase for the 2022 season. Again, 2022 was a common theme. So starting in 2022, they were talking about attractions taking two to three years to pay off. Now we know, especially at a park like Canada's Wonderland Attractions usually can be paid off in their first one to two years. So it looks like they may be going after larger purchases. Now that is an assumption based off of what they said on the stockholders call. They did not come out and directly say that. So please take that little tidbit of information I just presented there with a grain of salt. But one could assume that they are going to start upping certain investments at their parks that these $30 million coasters might start to be $35, $40 million area expansions. We know that Carowinds is working on a huge expansion themed area that they're surveying guests about. And that could be a huge cost them. They might be going after a Disneyland, not Disney World, Disneyland type themed areas of their future attractions. That makes sense. Now what's interesting is I'm going to talk about this in a separate video. So this is going to trigger people. I'm here to tell you that Carowinds and Canada's Wonderland will be getting coasters in 2022 or 2023. It depends on who's getting one in 2022 and who's getting one in 2023. Those are the years that Canada's Wonderland Carowinds are going to get those coasters. So it makes sense that the budget is raised during that timeframe and they're going to be spending more because we know that these two parks are going to be getting larger attractions. And this is where you're going to learn about that. So one thing that they touched on the call is there were four parks that played a key role in the success of the entire 2019 season, especially Q4. You had Cedar Point, Kings Island, Knott's Bay Farm and Canada's Wonderland. Those four parks contributed to a large portion of the success, but they did touch that the California parks plural did have a really bad Q4 season due to weather. So those parks did have a rough Q4 season and this is where they started to go into Canada's Wonderland. So this is where it's going to get really juicy because it looks like Winterfest at Canada's Wonderland was a huge success, much more than they were anticipating. We already knew that. Anyone who attended Winterfest at Canada's Wonderland knew that that park was at capacity every Saturday and Sunday. Fridays were a little less busy because of the school and work day, but that park was absolutely packed to the brim. People fully lined up for this, this or that, like close to $25 to park. What gets even more interesting, and this is where they kept talking about, only one third of those people attending that event were season pass holders. Two thirds of the people that attended that event bought day tickets to Winterfest, very different from the other Winterfest events. So about 55 to 60% of people attending the other parks Winterfest were season pass holders. Very, very different than Canada's Wonderland. That means they're making a lot more money off of Winterfest at Canada's Wonderland. That means, and this is what they talked about on the call, that there is an opportunity to turn a very large population of attendance that are attending a new event at Canada's Wonderland into season pass holders. And they kept talking about this on the call, that next year Winterfest at Canada's Wonderland is going to be that much bigger, that much better to draw in these people to convince them to buy season passes versus the day tickets. So I'm really curious to see what Winterfest looks like at Canada's Wonderland next year, because they kept talking about how successful it was and how much it contributed to the Q4 results. So that being said, they went on to further detail that in the 1.3 million increase in attendance for the Q4 season, that the Winterfest at Canada's Wonderland contributed to a large portion of that. I did some simple math based off of the numbers that they were providing, and I got a very, very rough estimate of 700,000 guests. I can't sit here and tell you that that's very accurate, but it does sound right. The average Winterfest event saw around 200,000 guests in its first season. So that's a really large portion or large increase in attendance compared to the other Winterfest events. And it explains why Canada's Wonderland literally was the main topic of discussion on this Q4 results. Something I haven't seen before, but nonetheless, anyone who attended the event, anyone who's a home park, yes, we're biased, but we were telling everyone in the community that Winterfest was extremely busy. That being said, I'm trying to see if I missed anything from the conference call. Oh, yes I did, one of the big ones, Cedar Point. Okay, so Cedar Point is doing so well. The hotel industry at Cedar Fair is literally, it equates to 10% of revenue now. That's significant. So the hotels at Knott's Berry Farm, Cedar Point, I'm missing some other ones, but all the hotel properties, mainly Cedar Point, by the way, equal about 10% of revenue at Cedar Fair. So that's crazy. That's a large portion. Cedar Fair is doing really well in the hotel industry. I could totally see them expanding even further into the hotel industry. You know that there's one in the future at Canada's Wonderland. We don't have an opening date. It's 2021 something, but Carolyn's just opened theirs. It's just, it's awesome. It's exciting. Cedar Fair seems to know where to invest their money and it's clearly showing in the success that they're having for 2019. That being said, on top of that, Cedar Fair has already sold 40% more season passes for the 2020 season, only one third of the way into their season pass sales year so far. So that's crazy. One third of the way in, 40% more season passes than the 2019 season. That's absolutely crazy. And a huge portion of that was Cedar Point. They did mention that. Cedar Point was a big player in that, but season pass sales at every single property, every single property in the Cedar Fair chain are up double digits. That's amazing. That's absolutely amazing. If you're going to invest in a theme heart company, you're going to want to invest in Cedar Fair. Everything that Cedar Fair was announcing on their conference call was super calming. It's something you want to look for as an investor. They seem to be recession proof. They're definitely proving that they're weather proof in all aspects with the property scattered all over. It's just the way they're investing, they know how to draw in that day ticket holder into a season pass holder. They're upgrading their food and beverage. They're going into entertainment, the hotel industry. They're finding ways to make money even outside of the theme heart. So honestly, Cedar Fair is just off to an amazing start in the season over a year. 2020 is going to be even better. Winterfest is not launching at any other park in 2020 that they have planned right now is the way they worded, but they are going to be expanding Winterfest at Canada's Wonderland. They did say that. And yeah, I hope I didn't miss anything. I talked about how Canada's Wonderland is going to be getting a lot of exciting things. I talked about the increase in capital investments starting in 2022 due to the hotel renovations not eating away at that budget anymore. It's $190 million, which is about 9% of revenue. I think that's about it. Hopefully I got everything. If I missed anything, feel free to comment down below what you learned from the call. If you have any questions, I'll try and respond to the comments below in this video as much as I can. Thanks so much for watching, guys. Hope you enjoyed this video. Don't forget to leave a like, comment, and subscribe if you haven't. Have a good one. Bye.