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Cedar Fair signs agreement to acquire Schlitterbahn parks

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Well, that was unexpected. I'm really glad to see Cedar Fair add destination waterparks, in any case. Hopefully we'll also see good things at the existing Cedar Fair waterparks.

What does everyone think about whether they'll keep the Schlitterbahn name at the Texas parks? It's very iconic there, but its association with the Kansas City, KS park could be a factor after the 2016 accident.

I also have to wonder how season passes will work; the current price of a "platinum" pass good at both Texas waterparks is higher than the current price of a Cedar Fair platinum pass ($275 vs $220).

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Wow... I didn't see this coming!  We went to Schlitterbahn in New Braunfels in 2010, and it was the best waterpark I've ever been too.  Good purchase by Cedar Fair!  I'd love to get down there again, but now that my friends have moved out of Texas it's not likely that I'd vacation there again, although it would be nice to spend more time in San Antonio.

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I can see a lot of upside in this:  new markets, a new resort, new opportunities for Haunt/Winterfest, etc.  If they decide to purchase the Kansas City location, it would give them dominance in that market.  (But does it include the land and attractions or just the land?).  For Texas, if Schlitterbahn keeps the other properties, I would imagine the names would be changed eventually.

 

However....with the recent purchase of the and under California's Great America, the company has added almost a half billion of new debt.  The payments from CGA should likely be negated from the savings of the yearly lease payments, though.

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It was mentioned in this article: https://www.mysanantonio.com/business/local/article/Schlitterbahn-sells-New-Braunfels-Galveston-13985150.php that they intend to rebrand the South Padre property that they will continue to own.  Looks like the impetus for the sale is to pay off a large note payment that they had to pay to EPR Properties.

It will be interesting to see what changes Cedar Fair makes.  Also interesting since Cedar Fair had previously sold off some of its stand alone water parks in California.  It will provide some diversification as they do not have any operations in Texas.  It appears that the deal will close in the second quarter, so relatively soon.

EPR properties owns several amusement related properties, including several that are managed by Six Flags: Six Flags Darien Lake, Frontier City, and Six Flags Hurrican Harbor Phoenix.

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37 minutes ago, malem said:

The $6M purchase price says a lot about the value of the Kansas City park. Perhaps we'll see some of its slides distributed to other Cedar Fair parks if they pursue that option.

It’s quite possible that it was never winterized, knowing that it wasn’t going to reopen. That would cost a pretty penny to reverse.

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Did not expect this acquisition- hopefully Cedar Fair invests in further developing these properties.  I visited the New Braunfels location last August for the first time in nine years and it seemed as if not much had changed since my last visit.  It is a wonderful waterpark as it is, but hopefully new ownership will breath a little more life back into the park and return it to the forefront of pioneering the waterpark industry as it was a decade ago.  

The New Braunfels park could greatly benefit from the addition of new major attractions just for the sake of dispersing crowds.  Despite its lack of recent additions, the place still attracts huge crowds, pushing wait times for most signature slides well over an hour on normal operating weekdays. 

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6 hours ago, CoastersRZ said:

It was mentioned in this article: https://www.mysanantonio.com/business/local/article/Schlitterbahn-sells-New-Braunfels-Galveston-13985150.php that they intend to rebrand the South Padre property that they will continue to own.  Looks like the impetus for the sale is to pay off a large note payment that they had to pay to EPR Properties.

It will be interesting to see what changes Cedar Fair makes.  Also interesting since Cedar Fair had previously sold off some of its stand alone water parks in California.  It will provide some diversification as they do not have any operations in Texas.  It appears that the deal will close in the second quarter, so relatively soon.

EPR properties owns several amusement related properties, including several that are managed by Six Flags: Six Flags Darien Lake, Frontier City, and Six Flags Hurrican Harbor Phoenix.

Interesting that there is no mention of the Corpus Christi property. I wouldn’t be surprised if this is the end of Schlitterbahn as a brand name. It goes to show how a tragedy can impact a brand name. (See Sea World).

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^^^ See also reports from a Kansas City news station prior to Memorial Day. https://fox4kc.com/2019/04/22/with-just-weeks-until-summer-it-doesnt-look-like-schlitterbahn-will-open-in-2019/

Quote

Sources say KCKPD has also used some of Schlitterbahn's buildings for training, and the condition of the inside of those buildings indicates the water park will not be reopening.

5 minutes ago, befat said:

Interesting that there is no mention of the Corpus Christi property. I wouldn’t be surprised if this is the end of Schlitterbahn as a brand name. It goes to show how a tragedy can impact a brand name. (See Sea World).

The Corpus Christi property was sold last year; I would be surprised if the Schlitterbahn branding at that park stays around much longer. https://kristv.com/news/local-news/2019/04/24/new-direction-for-waves-resort-cc-featuring-schlitterbahn/

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39 minutes ago, malem said:

^^^ See also reports from a Kansas City news station prior to Memorial Day. https://fox4kc.com/2019/04/22/with-just-weeks-until-summer-it-doesnt-look-like-schlitterbahn-will-open-in-2019/

The Corpus Christi property was sold last year; I would be surprised if the Schlitterbahn branding at that park stays around much longer. https://kristv.com/news/local-news/2019/04/24/new-direction-for-waves-resort-cc-featuring-schlitterbahn/

Thanks.  I figured they still fully owned the property since it’s still on their website. But then again, so is the Kansas City property. I’d love to see a full case study on Schlitterbahn once this is all said and done. 

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