NewsPlusNotes: PARC Mangement Heads In New Direction

Saturday, November 27, 2010

PARC Mangement Heads In New Direction

PARC Management and CNL Lifestyle Properties have agreed to terminate their lease arrangement, which means several large theme parks are now without a management company.

PARC sent out a release that explains that they "will expand the Company’s development and operation of new concept theme and water parks, enhance its current properties, including NASCAR SpeedParks, and provide development and operational management services to third-party owners, joint venture partners, and government entities."

PARC has purchased CNL's interest in Myrtle Waves water park in Myrtle Beach, SC. PARC will now own/operate family fun centers and water parks across the nation.

A CNL Lifestyle Properties release explains that they have already reached an agreement for Amusement Management Partners to take over operations of 8 family entertainment centers formerly operated by PARC.

Probably the most interesting part of this is that the big parks do not have new operators yet. These include Darien Lake, Elitch Gardens, Wild Waves, Frontier City, Magic Springs and several water parks. The rumor mill has already kicked in on that front, Screamscape reports that Herschend Family might be interested in running Frontier City.

Perhaps the parks will receive separate operators, or a new company will take them all on. Either way both PARC and CNL promise a smooth transition and no disruption to the park's 2011 seasons.

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