X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SANDUSKY, OH-The publicly traded amusement park owner and operator plans to expand its hotel and develop a year-round indoor water park here at its Cedar Point amusement park.

The $22-million Castaway Bay project is scheduled to open in late 2004. Surrounded by 237 hotel rooms, the 38,000-sf water park will have a Caribbean theme and feature a 100,000-gallon wave pool; a 35-ft-high, 520-ft-long water roller coaster; a multi-story interactive play area with a 1,000-gallon bucket that empties on guests every 10 minutes. In addition, the development will feature a state-of-the-art arcade, a day spa, various dining and merchandise facilities and an adjacent marina.

“Our guest accommodation properties at the park continue to generate solid operating results, including a 5% increase in revenues this year,” says Cedar Fair LP chairman/president/CEO Dick Kinzel. “The addition of Castaway Bay and a world-class indoor water park facility will now give us the ability to entertain families all year long.”

Kinzel says the investment is in addition to the partnership’s previously announced plans for $25 million in capital expenditures at its parks for the 2004 season, including the expansion of the Lighthouse Point luxury camping complex and Soak City water park at Cedar Point, and the addition of new mid-sized thrill rides at Knott’s Berry Farm and Worlds of Fun.

Cedar Fair’s six amusement parks are Cedar Point, located on Lake Erie between Cleveland and Toledo; Knott’s Berry Farm near Los Angeles in Buena Park, CA; Dorney Park & Wildwater Kingdom near Allentown, PA; Valleyfair near Minneapolis/St. Paul; Worlds of Fun, located in Kansas City, MO; and Michigan’s Adventure near Muskegon. The Partnership’s water parks are located near San Diego and in Palm Springs, CA, and adjacent to Cedar Point, Knott’s Berry Farm and Worlds of Fun. Cedar Fair also operates Camp Snoopy at the Mall of America in Minnesota under a management contract.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.