italianchef Posted July 20, 2006 Share Posted July 20, 2006 I read that Cedar Fair could have bought CBS' share of the Great Wolf Lodge and chose not to. http://toledoblade.com/apps/pbcs.dll/artic...010/-1/BUSINESS I find that odd. Now that CF owns Kings Island, why not own part of the lodge of its property? Any ideas why?? Have a great day! Italian Chef PS - Since CBS doesn't need that stock, think they'll sell it to me pennies on the dollar? Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted July 20, 2006 Share Posted July 20, 2006 I posted a thread on this recently. Cedar Fair told The Toledo Blade that they chose not to buy CBS's stake in the Great Wolf Lodge... They are a competitor at Sandusky, and Cedar Fair was already stretching things to buy the five Paramount Parks and ST:TE and the management contract at Bonfonte. Quote Link to comment Share on other sites More sharing options...
Captain Picard Posted July 20, 2006 Share Posted July 20, 2006 Why didn't Great Wolf Lodge buy it from CBS? The price is my guess. Quote Link to comment Share on other sites More sharing options...
jzarley Posted July 20, 2006 Share Posted July 20, 2006 Great Wolf isn't exactly rolling in cash right now...they've actually sold substantial portions of their existing properties in exchange for cash and management contracts. I would imagine buying out CBS' share wasn't feasible for them right now. Plus, it was really a non-cash deal for CBS since their portion of the project was the "donation" of land. CBS wasn't going to do anything to hurt the deal for the parks with CF, so if it means hanging on to an investment that isn't really costing them anything for a little while longer...so be it. I know I've said this like a thousand times, but I still believe GWL is a great acquistion target for someone...Blackstone, Ripley's, Starwood, Mariott, I don't know...but I still think it's a great opportunity for someone with the capital to invest. Quote Link to comment Share on other sites More sharing options...
SOB_TOM Posted July 20, 2006 Share Posted July 20, 2006 But attractions like GWL I cant imagine ever doing well during the theme park season. Its expensive and their main draw is off of the indoor waterpark. Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted July 20, 2006 Share Posted July 20, 2006 I beg to differ. On days like today, I bet many of the rich and new rich who stay in those places would rather lounge in air conditioned comfort than in Boomerang Bay or at The Beach. Quote Link to comment Share on other sites More sharing options...
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