"Nearcation" Trend Helps Hershey Park Stay Sweet
Special to CNBC.com
American Express says the "nearcation" is one of the top travel trends of 2009. Hershey Entertainment & Resorts has benefited from this travel craze due to its location and business model, according to its CEO Ted Kleisner.
"The destination Hershey is in the perfect location for the 'nearcation'," Kleisner said. "We are exactly about half a day's drive from about 60 million people."
Watch Kleisner's full comments below
Unlike Disney, Hershey Park did not offer deep discounts to make up for attendance during the summer. "As we look at the year over year comparisons, we're at about less than 4 percent down from last year, which was one of our record years in the history of our company," Kleisner said.
June, July, and August make up 38 percent of yearly business for Hershey Park.
Hershey focused on the family market instead of discounts. The company used FamilyStimulusPackage.com, a domain site it bought last October, to "market to that [family] audience exactly how they could save money and create their own vacations almost in their backyard," according to Kleisner.
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Hershey's summer concert series had sold out events for Bruce Springsteen, Dave Matthews, and Kid Rock.
Revenue for Hershey Park is down about 5 percent but per capita spending is up.