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Knott's Soak City Palm Springs Acquired by CNL Lifestyle Properties


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In the conference call CEO Ouimet foreshadowed the limited value of stand alone water parks to Cedar Fair:

"...Worlds of Fun was our last park it didn’t take advantage of two parks for one price which is an incredibly compelling consumer messaging and we’ve seen exactly that happen at World of Park as we had anticipated. It’s also a strongly defensible position against water park – standalone water parks because the value proposition is great for the consumer. And then the third thing is water parks play a disproportionate role in driving season pass sales because people see themselves going into the water park more times than they go to the amusement parks."

Matt Ouimet in response to a question from Jeffrey Thomison of Hilliard Lyons, please see transcript, page six, from Seeking Alpha:

http://seekingalpha.com/article/1620642-cedar-fairs-ceo-discusses-q2-2013-results-earnings-call-transcript

Cedar Fair seeks to expand via combined gates and grouped gate revenue streams such as leveraging resorts, hotels, campgrounds, adjacent or attached water parks, go-cart attractions, restaurants, and other related businesses.

Watch to see how Ouimet develops the auto industry property acquired near Cedar Point.

Proceeds from the sale will likely be deployed to the hotel refreshment program, point of sale roll out, and arm band payment systems.

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So let's take in what we already have.

1. GL was shut down, WK stuck around

2. Both off site Soak Cities are now sold off in the Knott's area.

3. 2 p-o-p now being installed to many FUN parks.

What can happen in the near future.

1. WK sold off

2. Cedar Point will have 2 pop pricing for admissions to CP/SC.

3. Dual Park pricing could arise for those parks in 30 minute- 49 minute radius i e CP KI if can be done.

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Since they're distinguishing resort properties from non-resort properties, perhaps it's time to acknowledge this with season pass tiers. A gold pass from a non-resort property could be honored at other non-resort properties, for example.

For people in many markets, the current platinum pass is a terrible value. (when compared to other season pass tiers)

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