Cedar Fair LP (FUN), a publicly traded partnership headquartered in Sandusky, Ohio, is one of the largest regional amusement-resort operators in the world. The partnership owns and operates 11 amusement parks, four outdoor water parks, one indoor water park and five hotels. It's about to begin its summer season and should produce a record year in terms of attendance, revenue and profits.
The competitive landscape within which Cedar Fair operates is more about prying discretionary dollars from consumers than competing head to head with other theme parks. One notable exception is Knott's Berry Farm in a crowded Southern California family entertainment market. Knott's is less than 10 miles from Disney's (DIS) Disneyland theme park...
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