Wednesday, August 14, 2013

Cedar Fair Sells Another Water Park

Cedar Fair has announced that they have sold Knott's Soak City Palm Springs to CNL Lifestyle Properties.  The terms of the sale were not released and labeled as immaterial to Cedar Fair's operations.

Last November the amusement park operator sold its Knott's Soak City San Diego property to SeaWorld Parks and Entertainment, and for 2013 that park became known as Aquatica San Diego.

The sale of the Palm Springs location now leaves only Knott's Soak City, located right next door to Knott's Berry Farm, as Cedar Fair's only Southern California water park.  It also means that along with the park next to Knott's, Soak City at Cedar Point and Wildwater Kingdom at the former home of Geauga Lake are their only separate admission water parks.  How long do you guys think Wildwater Kingdom will remain a part of the Cedar Fair chain?

CNL Lifestyle Properties is an investment company that already owns quite a few amusement and water parks across the country with separate entities managing them.  These include Elitch Gardens, Darien Lake, Magic Springs, White Water Bay and two of the Hawaiian Falls parks in Texas.

Cedar Fair has said that the proceeds from the sale will be used toward the resort renovations that are planned for Cedar Point over the next few years.