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    Disney Cruise Line Returns to Hawaii, Other Favorite Tropical Destinations in Early 2022

    Sailings include a variety of itineraries from Florida, Louisiana, Texas and California
    CELEBRATION, Fla. – In early 2022, Disney Cruise Line returns to Hawaii and other favorite tropical destinations to delight families with one-of-a-kind vacations at sea. Adventure abounds during 10-night Hawaiian Islands cruises and a variety of sailings to the Bahamas, Caribbean and Mexico, departing from coast-to-coast homeports including New Orleans, Galveston, Texas, San Diego, Miami and Port Canaveral, Florida.

    Bookings open to the public on Oct. 22, 2020. More details on 2022 itineraries can be found on the Ports and Itineraries for 2022 page of disneycruise.com.

    Hawaiian Islands Cruises from Honolulu and Vancouver
    The Disney Wonder returns to Hawaii in early 2022 for two special 10-night cruises: a voyage to Honolulu from Vancouver, Canada, on April 26, and a return sailing to Vancouver on May 6.
    Guests will discover the breathtaking beauty of the Hawaiian Islands, including the famous beaches of Waikiki on Oahu; unforgettable views from high atop the summit of Haleakala Crater on Maui; the lush tropical gardens and waterfalls of Kauai; and the diverse natural wonders of Hawaii Island.

    Even More Family Vacations from Florida
    Vacationers can combine a Disney cruise getaway with a stay at Walt Disney World Resort in early 2022 with two ships sailing from Port Canaveral near Orlando, Florida, and a third ship departing from Miami. Every cruise from Florida in early 2022 includes a visit to Disney’s private island, Castaway Cay.
    • From Port Canaveral, the Disney Fantasy begins the year with a six-night Western Caribbean cruise, followed by seven-night voyages to a variety of favorite destinations in the Eastern and Western Caribbean.
    • The Disney Dream, also sailing from Port Canaveral, embarks on three- and four-night Bahamian cruises to Nassau and Castaway Cay. Offering even more fun in the sun, one special four-night cruise includes two stops at Castaway Cay.
    • From Miami, the Disney Magic sails four- and five-night Bahamian cruises and five-night Western Caribbean cruises. One special three-night sailing to Castaway Cay and Key West, Florida, makes the perfect long weekend escape.
    With a variety of options from Florida to choose from, guests can look forward to embarking on a vacation that provides something for everyone in the family, combining the adventure and relaxation of tropical destinations, the ease and indulgence of an ocean cruise, and the world-class entertainment and service of a Disney vacation.

    Popular Tropical Destinations from Galveston and New Orleans
    The Disney Wonder sails Western Caribbean getaways early in the year, first from Galveston, Texas, with four-night itineraries, followed by four- and six-night voyages from New Orleans.
    A special six-night Bahamian voyage offered from both Galveston and New Orleans gives guests the opportunity to visit Castaway Cay, in addition to the lively town of Key West.

    Baja Getaways from San Diego
    The Disney Wonder returns to San Diego in March and April with cruises to Baja, Mexico, where guests can enjoy vibrant culture, stunning beaches and exciting water activities.
    Most sailings to the Baja peninsula call on the charming coastal city of Ensenada, known for its turquoise blue water and rugged mountainous terrain. A two-night cruise to Ensenada has a Friday departure from San Diego, giving guests the ultimate weekend getaway to experience world-class entertainment aboard the Disney Wonder.
    Four- and five-night Baja cruises include a visit to Cabo San Lucas, Mexico, a favored destination with dramatic rock formations and white-sand beaches, or to Catalina Island, a tropical gem off the California coast with plenty of outdoor adventures and seaside charm.

    Disney Wish                                                                    
    Originally planned to sail in early 2022, the Disney Wish is now scheduled for its maiden voyage in summer 2022 due to pandemic-related delays at the Meyer-Werft shipyard in Germany. As previously announced, the Disney Wish will be powered by liquified natural gas or LNG, one of the cleanest-burning fuels available. At approximately 144,000 gross tons and 1,250 guest staterooms, the ship will be slightly larger than the Disney Dream and Disney Fantasy.
    To learn more about Disney Cruise Line or to book a vacation, guests can visit disneycruise.com, call Disney Cruise Line at 888-325-2500 or contact a travel agent.
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    Six Flags Third Quarter Earnings Results and Thoughts

    Six Flags announced their Third Quarter 2020 Earnings today, both on paper and on their earnings calls today. A few highlights from the call (shout out to @OnlineHyde for some of this) 
    • Adding leadership team to focus on improving guest experience
    • Saudi park still moving forward
    • Removal of 15 rides chain-wide after performing "detailed analysis of rides looking at throughput" 
    • Refurbishment and redeployment of existing rides 

    So what does this mean? Some older rides that cost a lot of money to operate are likely to be removed. I'd expect a few fan favorites to be among these, think the reasons why Log Jammer at SFMM was removed (it was the most expensive ride in the park to run). 
    It could also mean some newer rides with low throughput and issues may be removed. Think possibly the Free Spins, Harley Quinn at SFDK and maybe a few others. 

    Would also anticipate some older flat rides being removed at the more popular parks, and being swapped out with newer flats from smaller parks. Think the Round-Up at SFMM or the older top Spin at Great Adventure. 

    I wouldn't expect any Boomerangs or SLC's to be among the rides removed. They are actually reliable, relatively cheap to run and maintain. 

    Also, the elephant in the room here is what parks the chain is looking to ditch. There have been rumors swirling around regarding this for awhile. While not specifically outlined on this call, it's possible rides from some parks on the chopping block will be moved to parks the chain is keeping. 

    The situation is definitely fluid, stay tuned. 

    You can read the entire release below. 

    - Gregg  
    Cash Outflow In-Line with Expectations
    Transformation Plan Underway
    ARLINGTON, Texas--(BUSINESS WIRE)-- Six Flags Entertainment Corporation (NYSE: SIX), the world’s largest regional theme park company and the largest operator of waterparks in North America, today reported a decline in revenue and earnings, as anticipated, for the third quarter and first nine months of 2020 as compared to the same periods in 2019. Nine of the company’s 26 parks were closed in the third quarter due to the COVID-19 pandemic, and parks that were open during the period were subject to attendance limitations. The company continues to maintain a cautious and safety-first approach to operating its parks to ensure compliance with social distancing and other safety measures, in accordance with local conditions and government guidelines.

    While operating conditions continue to be challenging, attendance trends improved from a range of 20% to 25% of prior year levels upon the initial reopening of certain parks in the second quarter to approximately 35% in the third quarter, for the parks that were open.1 The company opened its waterpark in Oaxtepec, Mexico on September 12 and its theme park in Mexico City on October 23, and announced plans to open Six Flags Great America, in Illinois, for a holiday walk-through experience during late November through December.

    In addition, the company made progress on implementing its transformation plan to improve the guest experience and to reinvigorate long-term profit growth. The company believes this plan will help it to emerge stronger and more profitable once the pandemic subsides.

    “I would like to thank our team members who have risen to the challenges presented by COVID-19 and improved business performance each month as we safely opened more parks, increased capacity of the parks that were open, and aggressively controlled costs,” said Mike Spanos, President and CEO. “Additionally, I would like to thank our large base of loyal season pass holders and members who stayed with us during this difficult period and continue to come out to our parks in growing numbers.”

    “The early results of our operational transformation appear extremely promising, and I believe that we will emerge from the pandemic as a stronger and more profitable organization,” continued Spanos. “We made substantial progress towards our goal of modernizing the guest experience as we become a more agile, consumer-centric, productive, and technology-savvy organization. We expect the transformation to enable significant profit growth once our plan is fully executed in a post-pandemic environment.”

    Third Quarter 2020 Highlights
    • Attendance was 2.6 million guests, a decline of 11.4 million guests from the third quarter of 2019. This represented 19% of prior year total attendance, and approximately 35% of attendance at the parks that were open, relative to the comparable prior year period.
    • Total Revenue was $126 million, a decline of $495 million from the third quarter of 2019.
    • Net loss was $116 million, a decline of $296 million from the third quarter of 2019.
    • Adjusted EBITDA2 was a loss of $54 million, a decline of $361 million from the third quarter of 2019.
    • Net cash outflow for the quarter was $82 million, an average of $27 million per month.

    First Nine Months 2020 Highlights
    • Attendance was 4.6 million guests, a decline of 22.1 million guests from the first nine months of 2019. This represented 17% of prior year total attendance.
    • Total Revenue was $248 million, a decline of $979 million from the first nine months of 2019.
    • Net loss was $338 million, a decline of $528 million from the first nine months of 2019.
    • Adjusted EBITDA was a loss of $192 million, a decline of $647 million from the first nine months of 2019.
    • Net cash outflow for the first nine months was $275 million on a pro forma basis, excluding the net impact of financing raised, dividends paid, and pre-payment of debt, an average of $31 million per month.
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    In the third quarter of 2020, the company generated $126 million of revenue with attendance of 2.6 million guests, net loss of $116 million, and an Adjusted EBITDA loss of $54 million. Net loss includes non-recurring charges of $2 million in employee termination costs, $12 million in consulting costs, and a $9 million non-cash write-off of ride assets. These non-recurring charges were all related to the company’s transformation plan. The Adjusted EBITDA calculation reflects an add-back adjustment of approximately $23 million of non-recurring costs related to the transformation plan.

    The decrease in attendance was due to the temporary pandemic-related suspension of operations at nine of the company’s 26 parks during the quarter and limited attendance at the parks that were open. The decrease in revenue was primarily the result of the decrease in attendance, offset by improved guest spending per capita. The decrease in revenue was also attributable to a $22 million reduction in sponsorship, international agreements, and accommodations revenue primarily related to the previously announced terminations of the company’s contracts in China, which generated revenue in 2019; the suspension of most sponsorship revenue while certain parks were not operating; and the pandemic-related suspension of the majority of the company’s accommodations operations. The company partially offset the decrease in revenue by implementing cost savings measures during the quarter.

    The improvement in admissions spending per capita for the third quarter of 2020 was primarily due to recurring monthly membership revenue from members who retained their memberships following the initial 12-month commitment period. An increase in the mix of single-day guests also contributed to the improvement.

    In-park spending per capita in the third quarter of 2020 increased due to a higher mix of single-day guests, who tend to spend more on a per visit basis. In addition, recurring monthly all-season membership product revenue, such as the all season dining pass, from members who retained their memberships on a monthly basis following the initial 12-month commitment period contributed to the increase.
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    For the first nine months of 2020, the company generated revenue of $248 million with attendance of 4.6 million guests, net loss of $338 million, and an Adjusted EBITDA loss of $192 million. Net loss includes non-recurring charges of $2 million in employee termination costs, $18 million in consulting costs, and a $9 million non-cash write-off of ride assets. These non-recurring charges were all related to the company’s transformation plan. The Adjusted EBITDA calculation reflects an add-back adjustment of approximately $29 million of non-recurring costs related to the transformation plan.

    The decrease in attendance was due to the temporary pandemic-related suspension of park operations beginning on March 13, 2020, and limited attendance at the re-opened parks. The company resumed operations at many of its parks on a staggered basis near the end of the second quarter of 2020 using a cautious and phased approach, which included limiting attendance to encourage social distancing, in accordance with local conditions and government guidelines. The decrease in revenue was primarily the result of the decrease in attendance, offset by improved guest spending per capita. The decrease in revenue was also attributable to a $62 million decrease in sponsorship, international agreements, and accommodations revenue primarily related to the previously announced terminations of the company’s contracts in China and Dubai, which generated revenue in 2019; the suspension of most sponsorship revenue while certain parks were not operating; and the pandemic-related suspension of the majority of the company’s accommodations operations.

    The improvement in admissions spending per capita for the first nine months of 2020 was primarily due to recurring monthly membership revenue from members who retained their memberships following the initial 12-month commitment period. An increase in the mix of single-day guests also contributed to the improvement.

    In-park spending per capita in the first nine months of 2020 increased due to recurring monthly all season membership product revenue, such as the all season dining pass, from members who retained their memberships on a monthly basis following the initial 12-month commitment period and the increase in single-day attendance mix. These increases were partially offset by limited catered outing revenue driven by the COVID-19 pandemic and attendance at the company’s drive-through Safari, which offers limited in-park spending opportunities.

    Active Pass Base
    The company extended the use privileges for all 2020 season passes through the end of 2021, and offered members the option to pause payments on their current membership through spring 2021. The company is also offering higher-tiered benefits to members that elect to maintain their current payment schedule. As anticipated, the company sold significantly fewer season passes and memberships while many of its parks remained closed, compared to the same period in 2019. As a result, the Active Pass Base, which includes all members and season pass holders, decreased 49% as of the end of the third quarter of 2020 compared to the third quarter of 2019. The Active Pass Base included 1.9 million members, compared to 2.6 million members at the end of 2019 and 2.1 million members at the end of the second quarter of 2020. It also included 1.9 million traditional season pass holders compared to 4.5 million season pass holders at the end of the third quarter of 2019.

    Deferred revenue was $199 million as of September 30, 2020, an increase of $1 million, or less than 1%, from September 30, 2019. The increase in deferred revenue was primarily due to the deferral of revenue from members and season pass holders whose benefits were extended into 2021, almost entirely offset by lower season pass and membership sales.

    Balance Sheet and Liquidity
    As of September 30, 2020, the company had cash on hand of $214 million and $459 million available under its revolving credit facility, net of $22 million of letters of credit, or total liquidity of $673 million. This compares to $756 million of liquidity as of June 30, 2020. The company’s average monthly net cash outflow was approximately $27 million per month, which was within the company’s prior guidance range.

    Based on the parks that are currently open, the company estimates that its net cash outflow through the end of 2020 will be, on average, $25-$30 million per month.3 The company has no debt maturities until 2024.

    In the first nine months of 2020, the company invested $90 million in new capital projects, net of property insurance recoveries, paid $22 million in dividends, and prepaid $51 million of its 4.875% notes due 2024. Net debt as of September 30, 2020, calculated as total reported debt of $2,621 million less cash and cash equivalents of $214 million, was $2,407 million.

    On August 26, 2020, the company further amended its credit facility to, among other benefits, suspend testing of its senior secured leverage ratio financial maintenance covenant through December 31, 2021. The company’s lenders also approved modified testing of its senior secured leverage ratio financial maintenance covenant through December 31, 2022. Through the duration of the amendment period ending December 31, 2022, the company agreed to suspend paying dividends and repurchasing its common stock, and to maintain minimum liquidity of $150 million.

    In response to curtailed operations, and to preserve the company’s liquidity position, the company continues to take actions to reduce operating expenses and defer or eliminate certain discretionary capital projects planned for 2020 and 2021. The company is able to take additional measures or further modify park operations and park schedules based on changing conditions. At this time, the company believes it has sufficient liquidity to meet its cash obligations through the end of 2021 even if the open parks are forced to close.

    Transformation Plan
    The company commenced a major transformation plan in March 2020 to reinvigorate long-term profit growth, including revenue initiatives and productivity initiatives. The organization will focus on modernizing the guest experience through technology, and providing more value for its guests’ time and money.

    Executing the transformation plan will require one-time charges of approximately $69 million, of which $60 million will be cash and $9 million will be non-cash write-off of ride assets. Approximately $29 million has already been recorded through the end of the third quarter. The company anticipates that it will incur approximately $5 million in charges in the fourth quarter of 2020, with the remaining charges expected to be incurred by the end of 2021. Approximately two-thirds of the investments in 2021 will be on the company’s technology platform to enable the realization of the expected transformation value.
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    ​The company expects the transformation plan to generate an incremental $80 to $110 million in annual run-rate EBITDA. Relative to the mid-point of the company’s pre-pandemic guidance range of $450 million, this implies a new earnings baseline of $530 to $560 million4 once the plan is fully executed and the company is operating in a normal business environment.

    The company expects to realize approximately half of the transformation benefits through a reduction in fixed costs that is independent of attendance levels. The company expects to realize the other half of the benefits through incremental revenue opportunities and lower variable costs.
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    LA Haunted Hayride 2020: Live Drive-Up Experience

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    Can I tell you how good it feels to be doing an update from something I experienced on my own for the first time in 7 months. REALLY good. 

    Last night we experienced the Haunted Hayride 2020: Live Drive-Up Experience and had an absolute blast. 

    It was a perfect socially distanced, masked up night out. 
    Written by Gregg Condon
    First, some highlights of the show. As somebody who went to the Drive-In a lot as a kid, and into my late teens, early 20's, I can say, this brought back a lot of fun memories. 
    Not really in "LA", but still technically LA County. And much further than our typical drive to the Hayride. 
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    We're masked up and ready to go!! We were super impressed with the entry process, and them checking even in the back seat to make sure everybody was wearing masks. 
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    Lots of familiar characters and voices while you wait. 
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    Some props from previous hayrides!! 
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    The Platinum Experience trailers. We opted for the VIP. 
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    Lots of fun songs, movies, and oh yeah, monsters roaming around.

    ​Just your typical stranded at the drive-in story. 
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    Side note: Anybody else that newer cars (ours is a hybrid) don't have an "accessory" setting and you can't leave the radio on while the car is off? We had to turn ours off about 20 minutes in due to the constant warnings. 

    However, the sound was awesome and we didn't miss anything. We just wanted that extra "ooomph". =) 
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    You can almost see the swing set in front of the screen. No, it's not really there, but anybody in GenX knows what I'm talking about. 
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    Piggy Piggy 
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    Super happy with how some of these pics came out. 
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    Pumpkin Eater!! 
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    Lots of fun Monte Revolta tunes!! 
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    Overall thoughts: 
    We loved it. Make no mistake, we've had a few experiences at the Hayride in years past that weren't great, but this was. Was it your normal Halloween event, not in the least. But it was perfect for 2020 and we definitely can't recommend this enough. $100 well spent! 

    ​Get your tickets to LA Haunted Hayride soon. It's almost all sold out. 
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    Carnival Cruise Line Cancels Miami and Port Canaveral Cruises for November 2020

    Five Additional Cruises Also Cancelled in Australia
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    MIAMI, October 12, 2020 – Carnival Cruise Line has notified guests and travel agents that it is cancelling the remaining cruises for the six total ships operating from PortMiami and Port Canaveral for November 2020. 
    It has also cancelled five cruises scheduled to operate from Sydney, Australia from Jan. 16 - Feb. 8, 2021.
    Following the U.S. Centers for Disease Control’s (CDC) decision to extend its no-sail order for cruise operations until Oct. 31, Carnival cancelled all but PortMiami and Port Canaveral cruises for the rest of the year.  It has now determined that November 2020 operations will not be feasible.

    Carnival continues to work on protocols and procedures that would allow for the resumption of cruise operations, with a gradual, phased-in approach, designating Miami and Port Canaveral as the first two homeports for embarkations.  Cruises currently scheduled for December from those two homeports remain in place for the time being while Carnival evaluates options.  However, guests booked on cruises in December out of Miami and Port Canaveral still have the ability to voluntarily cancel their reservation and receive the same offer that all other impacted guests are receiving, which includes a combination future cruise credit (FCC) and onboard credit (OBC), or a full refund.

    In Australia, Carnival is notifying guests and travel agents that five cruises on Carnival Splendor from Jan. 16 - Feb. 8, 2021 have been cancelled.  Those guests will receive the same offer of the combination FCC/OBC, or a full refund.
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    CARNIVAL CRUISE LINE CANCELS SOME CRUISES FOR NOVEMBER AND DECEMBER

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    MIAMI, October 1, 2020 – Following the U.S. Centers for Disease Control’s (CDC) decision to extend its no-sail order for cruise operations, Carnival Cruise Line is notifying guests and travel agents that it has cancelled cruises from all U.S. homeports except Miami and Port Canaveral for November and December 2020.  While operations from Miami and Port Canaveral in November and December are still not certain, Carnival is focusing its initial return to service from those two homeports, whenever that might occur.   

    Carnival continues to work on protocols and procedures that would allow for the resumption of cruise operations, with a gradual, phased-in approach, designating Miami and Port Canaveral as the first two homeports for embarkations.  Cruises currently scheduled for November and December from those two homeports will remain in place for the time being while Carnival evaluates options.  However, the cruise line is providing guests booked on cruises in November and December out of Miami and Port Canaveral the ability to voluntarily cancel their reservation and receive the same offer that all other impacted guests are receiving, which includes a combination future cruise credit and onboard credit, or a full refund.

    “As we have said throughout this pause, our return to operations will be gradual and phased in.  And while we are not making any presumptions, once cruising is allowed, we will center our initial start-up from the homeports of Miami and Port Canaveral,” said Christine Duffy, president of Carnival Cruise Line.  “The health and safety of our guests, crew and communities we serve remain the cornerstone of our plans and decisions.  The patience and support of our guests and travel agent partners have been a huge motivation to our team as we have worked through this unprecedented situation and we are dedicated to getting back to operations when the time is right.”
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    Carnival Mardi Gras Departs on Sea Trials

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    Carnival Cruise Line’s new Mardi Gras is shown here departing on its sea trials this morning from the Meyer Turku shipyard in Turku, Finland.  The vessel will spend 10 days at sea before returning to the dock for final preparations for its departure for the U.S.

    The first ship in North America to be powered by Liquefied Natural Gas (LNG), Mardi Gras is scheduled to enter service from Port Canaveral, Fla., Feb. 6, 2021, operating week-long itineraries.
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