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Cedar Fair Looking into Selling Valley Fair/Worlds of Fun


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This all sounds like the publicity stunt that Six Flags put out a few years ago with such parks as SFMM.

 

Publicity stunt? please explain. Publicity stunts are supposed to help the business.

 

Hey people of Minnepolis/St. Paul: Support Valleyfair because we may sell it anyday now. If we sell it, the new buyer might close it, so stop by real soon.

 

thanks we love this town,

Cedar Fair

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(Pretending to know about economics...)

 

A. Cedar-Fair has debt, and they say to their creditors, "look, these parks are worth X now, but why not wait 2 years and then we could sell them for 1.5X"

 

B. Cedar-Fair has debt, and really needs to pay some of it back. They sell some assets, and pay down some debt.

 

C. Cedar-Fair wants some fast money now, because they think the recession will be much worse then we think/hope.

 

D. Cedar-Fair moves into the trashcan and cement industry.

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One Park Operator's Loss is another's Treasure. If these parks were to be sold, someone like Herschend or PARC might be viable contenders. Both operators have been buying up lately. And don't underestimate companies like Parques Reunidos whose dollars are going a lot further in the US these days.

 

As far as CGA is concerned, I think CF moving into a management position is spot on. CF's hands seem to be tied in regards to major improvements, which is very limiting on drawing fresh crowds each season. I definitely agree with that - whoever said it.

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If they sell off WOF I'd love to see patriot get relocated to KD seeing as how it was a recent installation....of course this would never happen however but one can still dream about it.

That wouldn't be possible simply because WOF and KD would be owned by different companies. Unless the company that bought WOF decides to sell off all the rides and close the park that could not happen.

 

BTW, KD already HAS an invert and there's a B&M invert one hour south of the park.

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It is hard to read the CGA situation...

 

I think Santa Clara would have approved the coaster were it not for their desire to lure the 49ers. The planning commission approved the variance for the ride height, but the city council did not approve the project due to the noise complaints from Prudential. I think Santa Clara is using this to bargain with Cedar Fair over the use of the parking lot.

 

I think Cedar Fair, in turn, is calling their bluff. If they can get a good price AND a management contract out of the deal, then they have little to lose (with exception of a general desire to improve a decent park). Or, if te 49ers choose a different site, and the city eases off, then maybe CF will step up again and add to the site.

 

It had to be a letdown for CF to get hold of a park, get permission to exceed the height restriction, only to get shut down by a NOISE complaint.

 

I like the assortment of rides at CGA... SFDK is a shorter drive for me, and Medusa rocks, but I tend to have more fun at CGA. The ops have been very good since CF took over, and I'm a sucker for a decent Arrow looper and a log flume

 

 

 

One Park Operator's Loss is another's Treasure. As far as CGA is concerned, I think CF moving into a management position is spot on. CF's hands seem to be tied in regards to major improvements, which is very limiting on drawing fresh crowds each season. I definitely agree with that - whoever said it.
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The only thing I get afraid for VF and WoF.

If they only change owners once, it should be okay. (most of paramount parks are fine)

But I get afraid that if once it changes hands once, it might do it again! and if it did that...well...look at GL and CGA mow many times have they changed owners. (I know I'm a little pessimistic) but I don't want to see my home park (VF) or Wof have any bad things happen to it.

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Publicity stunt? please explain. Publicity stunts are supposed to help the business.

 

Hey people of Minnepolis/St. Paul: Support Valleyfair because we may sell it anyday now. If we sell it, the new buyer might close it, so stop by real soon.

 

thanks we love this town,

Cedar Fair

 

Heh, I was thinking the same thing. When Six Flags announced the parks they were looking at selling, when I told some friends I was going to Magic Mountain, they told me it was closed.

 

And I'm not anywhere near California.

 

Doesn't really help your marketing plan when you make it sound like you're closing the parks, and leave it ambiguous as to when it is going to happen... I'd write the letter like this:

 

Hey Minnesotans!

 

We operated this park as best we could, but it didn't do what we wanted it to do, so we're going to sell it to someone else who can try. Until then, we're not investing another cent in operating it because it sucked when we did, so expect crappy service and high prices throughout, and you better like it because who knows if the next place will even keep it open?!

 

Love,

Cedar Fair Management

 

It didn't work for Magic Mountain. For Six Flags Houston it worked because they knew the park was being shuttered, and they had a reason for it that they were closing that was explainable, and they basically threw a party. Telling people you are going to try to sell never gives a good impression, and I'm surprised Cedar Fair was dumb enough to do just that, regardless of if they wanted to sell them or not. They could have just told the parties whom they thought would be interested first to judge that interest level...

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As the rumors about Geauga Lake's Wildwater Kingdom are still going around I personaly think Cedar Fair went over their heads. They bought Geauga Lake to keep it from competetion and they built Wildwater Kingdom, closed the rides, and now WWK is a failure. Noone wants to buy the land either. I bet Cedar Fair would be making more of a profit if Geauga Lake was still open. I think that the only reason the Big Dipper is still standing because Cedar Fair wants to stay out of the news. There can't be a deadline when the coaster will be moved or demolished, it would have occured already, well that's what I think. If anything starts to occur the people will get mad and start to contact Cedar Fair and complain. As for the other parks, I don't know who would buy them, possiblt PARC? I think it's a shame Valley Fair would be up for sale considering it was one of the original Cedar Fair parks. What ever goes around comes around.

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I have a question. Say if Worlds Of Fun does get sold to a random rich person whats going to happen to Camp Snoopy? Better yet whats going to happen to Halloween Haunt?

 

I'm all for Ceder Fair selling Oceans Of Fun, cause he hasn't done a dang thing to it for a long while, but him selling Worlds Of Fun has me very worried for its future.

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^I think you need to ask the random rich person after he buys the park.

 

It is impossible to accurately speculate upon speculation.

 

Telling people you are going to try to sell never gives a good impression, and I'm surprised Cedar Fair was dumb enough to do just that, regardless of if they wanted to sell them or not. They could have just told the parties whom they thought would be interested first to judge that interest level...

 

Unfortunately, you can't do this with a public company. Everyone must be given the same information. Not doing it would be dumb as it opens the company up to class action lawsuits.

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As the rumors about Geauga Lake's Wildwater Kingdom are still going around I personaly think Cedar Fair went over their heads. They bought Geauga Lake to keep it from competetion and they built Wildwater Kingdom, closed the rides, and now WWK is a failure. Noone wants to buy the land either. I bet Cedar Fair would be making more of a profit if Geauga Lake was still open. I think that the only reason the Big Dipper is still standing because Cedar Fair wants to stay out of the news. There can't be a deadline when the coaster will be moved or demolished, it would have occured already, well that's what I think. If anything starts to occur the people will get mad and start to contact Cedar Fair and complain. As for the other parks, I don't know who would buy them, possiblt PARC? I think it's a shame Valley Fair would be up for sale considering it was one of the original Cedar Fair parks. What ever goes around comes around.

 

How many times have we been through this? CF didn't ruin GL,SFI did right up to the point at which they sold the park to CF but WOF & VF don't exactly have such a bad reputation attatched to them so why try to sell them?

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I would like to apologize because you guys are right about Geauga Lake. I just let what I really want to believe in come out. I do believe though Cedar Fair will let the Big Dipper stand on the property for some time and is done touching the land. It is true that when becoming Six Flags Ohio, the park became doomed, but what really hurt it, was buying Sea World, that shouldn't have occurred. I also want to say since the company is called Cedar Fair, Cedar (Point) (Valley) Fair, that's how we know the company gots its name, do any of you think the company would change its name if Valley Fair is sold? And why would Worlds of Fun be sold, they are building the Prowler, I'm a little confused.

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A nice new coaster just might be what helps sell the park quicker. I honestly think CF was pushing the new coaster at CGA just so they could sell it a year or so later. I think CGA would sell very quickly without a new coaster cause i honestly think CGA is doomed.

 

Cedar Fair will get as much as they can for the land and ship the rides off to other parks and i believe it will close after this season. WOF and VF may take another year or so to sell but could go just as quickly.

 

I would really hate to see WoF & VF sold but we all should know what CGA's fate is and should have know for a long time.

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I really don't think WOF will be sold. Cedar Fair has put too much into that park in the last few years. When Cedar Fair gets rid of a park they tend to just not touch it (I am referring to Geauga Lake). Same thing with Six Flags. The parks that are on their chopping block, they have done almost nothing to in the last few years (SFA, SFKK). If Cedar Fair does decide to sell a park, I bet it would be only CGA.

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Here is a reply that the Facebook group "Save Valleyfair" got from CF:

 

"Thank you for your interest in Valleyfair.

 

We do not have any plans to close this park. While the park is for sale, we are still in the very preliminary part of any sale process. The park will operate this summer as usual and we will continue to provide our guests with the best experience available. The park will even be better this year as we debut our new wave pool, Breakers Bay . It is a 350,000 gallon wave pool that will be sure to thrill our guests. With the addition of the wave pool, Valleyfair will change the name of its waterpark to Soak City .

 

Thank you for writing to us and expressing your concerns. Guest feedback is very important to us. We look forward to seeing you this summer at Valleyfair!

 

Regards,

 

Investor Relations"

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Dang, I thought this topic would be near the top of the list and when I didn't see it there I had this momentary thought of "yeah I get to be the first to break the news. Anyways- came across this article:

http://www.businessweek.com/ap/financialnews/D96TSIEO0.htm

 

Just for the record- I called GL's demise when CF bought it. It is like when the former owner of Great Escape bought and ran what is now Martin's Fantasy Island for one year just so he could get his hands on the Comet. CF came into GL removed A LOT and added nothing but mediocre water park crap and nothing else and sat there for a short time and said "gee why is no one coming- guess we'll just take all the crap we want and get the hell outta Ohio's backwoods."

 

That seems to be their way of doing things- only add things to a few of their parks regularly and stand around wondering why the others aren't doing very well. It was like SFDL- they added a bunch of stuff when it was first branded SF and then did nothing while Fantasy Island was adding new attractions every year and Sea Breeze every other year. No matter how small the park people want something new every once in awhile.

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Ha, I thought you all would find this comical:

On March 9th, when the press release was brought up, a couple members from my website started a group called "Save Valleyfair" in order to bring awareness to the public about the possible sale of the park, and now, after only 8 days, the group (on facebook) has over 59 thousand members. Funny how networking can work its magic.

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