Corrected version: The magnitude of the annual profit has been changed.
SANDUSKY — Amusement park chain Cedar Fair LP said today that its 2016 profits rose 58 percent to $178 million, or $3.14 a share, on revenues of $1.29 billion.
A year earlier, the Sandusky company, which owns Cedar Point and 10 other amusement parks and three water parks, had a profit of $112 million, or $1.99 a share, on revenues of $1.24 billion.
The company attributed the performance to a 3 percent increase in attendance to a record 25.1 million customers, plus a 2 percent increase in average in-park per patron spending to $46.90, which also was a record.
Cedar Fair said it also experienced higher occupancy rates and average daily room rates at its five resort properties, which combined for a record $146 million, or 6 percent increase, in out-of-park revenues.
For the fourth quarter, the company had a loss of $6.8 million, or 12 cents a share, on revenues of $191.9 million, which compared with a loss of $25.7 million, or 46 cents a share, on revenues of $166.9 million for the same period a year earlier. The company typically has a loss in the fourth quarter, when only two of its parks are operating.
Company CEO Matt Ouimet called the performance “the most successful year in our history.”
First Published February 15, 2017, 2:59 p.m.