NYSE: FUN

$ 52.15
+0.57 ( +1.1% ) Volume: 72,283 September 21, 2018

NYSE: FUN

$ 52.15
+0.57 ( +1.1% ) Volume: 72,283 September 21, 2018
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News Release Details

Cedar Fair to Open New Hotel at Canada's Wonderland near Toronto

08/27/2018
203-room dual-branded Hyatt Place and Hyatt House hotel expected to open in 2020, providing first class accommodations to park guests, business and tourism visitors

SANDUSKY, Ohio, Aug. 27, 2018 /PRNewswire/ -- Cedar Fair Entertainment Company (NYSE: FUN), a leader in regional amusement parks, water parks and immersive entertainment, has signed a pair of hotel services agreements with a Hyatt affiliate for a dual-branded Hyatt Place and Hyatt House hotel on the site of its Canada's Wonderland amusement park near Toronto in Vaughan, Ontario. The dual-branded hotel will offer 203 rooms – both spacious guestrooms and apartment-style suites – in a high-tech contemporary environment. Construction is expected to begin in the first half of 2019, with an opening date planned for late 2020.

The dual-branded Hyatt House and Hyatt Place Vaughan at Canada's Wonderland will feature accommodations attractive to park guests as well as business and tourism visitors in a contemporary setting.

Cedar Fair president and CEO Richard Zimmerman said, "The new dual-branded Hyatt Place and Hyatt House hotel will continue Cedar Fair's significant investment in Canada's Wonderland, one of the portfolio's largest and most successful parks. We expect strong attendance growth there, driven by the introduction of a new record-breaking roller coaster, Yukon Striker, and addition of an immersive holiday event, WinterFest, both launching in 2019. This development will mark the next evolution in the park's diverse offerings, providing park guests, business travelers and tourists with convenient accommodations in a growing area. The Hyatt Place and Hyatt House are respected brands worldwide and we look forward to working with the Hyatt team to ensure exceptional guest satisfaction."

The eight-story dual-branded hotel will be located on a 16-acre parcel of the park's land adjacent to Ontario Highway 400, 15 miles from Toronto Pearson International Airport. It will feature amenities important to both business and leisure travelers, such as free Wi-Fi throughout the hotel, an indoor pool, 24-hour fitness center, coffee and cocktails bar, casual dining options, business center, flexible meeting and event spaces, and an outdoor sun deck.

"This dual-branded Hyatt Place and Hyatt House will be a great example of our continued focus on growing premium hotels that will attract business and leisure travelers alike," said Scott Richer, Hyatt's regional vice president of development for Canada. "We're thrilled to team up with the team at Cedar Fair Entertainment Company – we're confident the appeal and convenience of these two brands will meet the needs of guests visiting Canada's Wonderland and the growing city of Vaughan."

The project marks the sixth hotel in Cedar Fair's accommodations portfolio. The company currently owns and operates three hotels at Cedar Point in Sandusky, Ohio, and one at Knott's Berry Farm in Buena Park, Calif.; an additional hotel is under construction at Carowinds in Charlotte, N.C.

About Hyatt Place

Hyatt Place, a brand of Hyatt Hotels Corporation, combines style, innovation and 24/7 convenience to create a seamless stay with modern comforts. There are more than 312 Hyatt Place locations in Armenia, Australia, Brazil, Canada, Chile, China, Costa Rica, Germany, Honduras, India, Mexico, Morocco, Nicaragua, Panama, Puerto Rico, Thailand, The Netherlands, United Arab Emirates, United Kingdom, and the United States. For more information, please visit hyattplace.com. Join the conversation on Facebook and Instagram, and tag photos with #HyattPlace and #WhySettle.

About Hyatt House

Hyatt House, a brand of Hyatt Hotels Corporation, launched in 2012 and offers more than 85 locations throughout the United States, China, Germany, Mexico, Turkey, and Puerto Rico. Inspired by extensive research into guest experiences, Hyatt House hotels offer services, amenities, upscale spaces and a casual, comfortable environment that reminds guests of home. For more information, please visit hyatthouse.com. Join the conversation on Facebook, and tag photos with #HyattHouse and #WhySettle.

About Cedar Fair

Cedar Fair Entertainment Company (NYSE: FUN), one of the largest regional amusement-resort operators in the world, is a publicly traded partnership headquartered in Sandusky, Ohio.  Focused on its mission to become "THE place to be for FUN," the Company owns and operates 11 amusement parks, including its flagship park, Cedar Point, along with two outdoor water parks, one indoor water park and four hotels.  It also operates an additional theme park under a management contract.  Its parks are located in Ohio, California, North Carolina, South Carolina, Virginia, Pennsylvania, Minnesota, Missouri, Michigan and Toronto, Ontario.

Forward-Looking Statements

Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "will," "would" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by the issuer of this release, are inherently uncertain. You are cautioned not to place undue reliance on any forward-looking statements, which are made only as of the date of this press release. Neither the issuer of this release nor any other entity associated with it or its subject matter undertakes any obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable law. If one or more forward-looking statements is updated, no inference should be drawn that any additional updates will be made with respect to those or other forward-looking statements.

Contact: Laurie Tardif, Corporate
Communications 
419.357.9559

 

Cedar Fair logo (PRNewsFoto/Cedar Fair) (PRNewsfoto/Cedar Fair)

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SOURCE Cedar Fair Entertainment Company

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Cedar Fair Entertainment Company

One Cedar Point Drive, Sandusky, OH 44870-5259

(419) 627-2233 investing@cedarfair.com

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