Leisure Facilities


I always look at economics of the business
A bird in the hand is worth 2 in the bush and the question is how sure are you there are 2 in the bush and how long you have to wait to get them out
1. How many birds are in the bush?
2. When you gonna get them out?
3. How sure are you?
If interest rates are 15% roughly you've got 2 birds out of bush in 5 years equal to bird in the hand but if interest rates are 3% and you can get 2 birds out in 20 years it still makes sense to give up the bird in the hand because it's all gets back to discounting an interest rate. Often you don't know not only how many birds in the bush but in the case of internet companies there were not any birds in the bush but they still take the bird that you give them from the hand
Loop through all the subindustries and try to understand how many birds are in the bush from the perspective of economics of the business

Revenue

200020012002200320042005200620072008200920102011201220132014201520162017201820192020
Display GDP grow per year to compare with Revenue Change
1. Vail Resorts, Inc MTN5535446157107228108399411,1529778691,1671,0241,1211,2531,4001,5961,9012,0072,2711,964
2. Six Flags Entertainment Corporation SIX1,0071,0461,0381,2371,0381,0909469731,0219139761,0131,0701,1101,1761,2641,3191,3591,4641,488
3. Cedar Fair, L.P FUN4734775035105425698319879969169781,0281,0681,1351,1601,2361,2891,3221,3491,475
4. SeaWorld Entertainment, Inc SEAS1,3311,4241,4601,3781,3711,3441,2631,3721,398
5. Planet Fitness, Inc PLNT211280331378430573689
6. Town Sports International Holdings, Inc CLUB343353389433473507485462467479470454424397403443467
7. Drive Shack Inc DS118108170271384559491342374218346567-5.275014.36299293314272
8. RCI Hospitality Holdings, Inc RICK12.7419.6615.5615.0615.9614.8224326075838395112129145135145166181
9. Dover Motorsports, Inc DVD87949494919186847163524746464746474950
10. Parks! America, Inc PRKA3.754.014.385.036.246.056.18
11. Altitude International, Inc ALTD0.0100.080.23
12. Simplicity Esports and Gaming Company WINR000.040.86
13. All-American Sportpark, Inc AASP2.462.432.322.222.172.152.212.242.342.051.962.122.132.092.130.010000
14. WellTek Incorporated WTKN5.224.943.772.54
15. YogaWorks, Inc YOGA49555560
16. Premier Exhibitions, Inc PRXIQ2.772.862.866.8613.04306154434532392929
17. Scores Holding Company, Inc SCRH0.570.31.341.451.341.571.980.490.190.390.510.630.690.730.841.181.090.720.7
18. China Enterprises Limited CSHEF340327315339000000000000000
19. Buscar Company CGLD000000


Revenue Growth

200020012002200320042005200620072008200920102011201220132014201520162017201820192020
Display GDP growth per year to compare with Revenue Change
1. Vail Resorts, Inc MTN0.980.981.131.151.021.121.041.121.220.850.891.340.881.091.121.121.141.191.061.130.86
2. Six Flags Entertainment Corporation SIX1.041.040.991.190.841.050.871.031.050.891.071.041.061.041.061.071.041.031.081.02
3. Cedar Fair, L.P FUN1.011.011.051.011.061.051.461.191.010.921.071.051.041.061.021.071.041.031.021.09
4. SeaWorld Entertainment, Inc SEAS1.071.071.030.9410.980.941.091.02
5. Planet Fitness, Inc PLNT1.331.331.181.141.141.331.2
6. Town Sports International Holdings, Inc CLUB1.031.031.11.111.091.070.960.951.011.030.980.970.930.941.021.11.05
7. Drive Shack Inc DS0.920.921.571.591.421.450.880.71.090.581.591.64-0.01-9.50.2920.810.981.070.87
8. RCI Hospitality Holdings, Inc RICK1.541.540.790.971.060.931.651.311.871.251.11.011.141.181.151.120.931.071.141.09
9. Dover Motorsports, Inc DVD0.350.351.08110.9710.940.980.840.890.820.90.990.991.020.991.021.061.02
10. Parks! America, Inc PRKA1.071.071.091.151.240.971.02
11. Altitude International, Inc ALTD00INF2.87
12. Simplicity Esports and Gaming Company WINRNANNANINF22.67
13. All-American Sportpark, Inc AASP0.990.990.960.960.980.991.031.011.050.880.961.0810.981.0200NANNANNAN
14. WellTek Incorporated WTKN0.950.950.760.67
15. YogaWorks, Inc YOGA1.141.140.991.09
16. Premier Exhibitions, Inc PRXIQ1.031.0312.391.92.312.040.880.811.030.711.240.741
17. Scores Holding Company, Inc SCRH0.520.524.481.080.921.171.260.250.382.071.331.221.11.051.141.410.920.660.97
18. China Enterprises Limited CSHEF0.960.960.961.080NANNANNANNANNANNANNANNANNANNANNANNANNANNAN
19. Buscar Company CGLDNANNANNANNANNANNAN