Kinzel tells Erin Burnett he hopes gas prices keep travelers close to the parks
Dick Kinzel, president and CEO of Cedar Fair Entertainment Co., was featured in a three-minute segment on CNBC's TV show "Street Signs with Erin Burnett" on Friday.
Burnett asked Kinzel, who was live via satellite from Cedar Point, if he thought the higher gas prices would affect people's driving habits, affecting Cedar Fair business.
"It would make a very difficult case ... to say that higher gas prices do not influence our business or does not influence our customers' demands. However, we like to think we are an attractive alternative to, maybe, destination resorts," Kinzel answered.
"Hopefully they'll sacrifice their trip to Florida or maybe a trip to the lake for the week and still take advantage of a long weekend or a day at the park," he said.
Burnett also asked Kinzel how the regional economy is faring.
"We are really optimistic for our parks outside of Sandusky (such as) Geauga Lake. As you know, Detroit and Cleveland are the two markets that have been hit most with the auto recession," Kinzel said.
"Hopefully the economy in Detroit will turn around in the next couple of years and we'll start getting most of our business back."
The hour-long TV show covers live stories with detailed analysis from Burnett -- everything from mergers and acquisitions to trends in on-line advertising.