Jump to content
  TPR Home | Parks | Twitter | Facebook | YouTube | Instagram 

Six Flags Darien Lake (SFDL) Discussion Thread


Recommended Posts

^I think it's been pretty clear that they've had no interest in selling PROPERTIES as a package either This article definitely helps your point

All in good taste though, because being butt hurt is all too regular here.

 

Link to the article:

www.businessden.com/2015/06/11/buyers-pay-140m-for-ticket-to-elitch-gardens/

 

"CNL has been paring down its portfolio lately, and for the most part, it has preferred to sell off blocks of similar holdings in multi-property mega sales.

 

Last year CNL unloaded 48 golf courses for $320 million. In May, the company sold 37 of its 38 senior housing properties in a single $763 million deal. CNL has its 16 ski resort holdings, including Crested Butte in Colorado, on the market.

 

The company owned 24 theme parks and was marketing them as a package sale, Duggan said, but split Elitch Gardens off for the Revesco deal.

 

The Revesco offer presented the CNL with “a unique opportunity driven by the interest of investors in the Denver market,” the company said in a prepared statement."

Link to comment
Share on other sites

In looking at the report, it looks like Premier will lease the parks from EPR. Personally, I don't have a problem with Premier operating the park. I think they will do fine as long as they are given the proper funds to operate the park the way they want. That is where I think all operations under CNL failed. If EPR opens the checkbook, all will be fine. If they try to milk every penny for their bottom line, we are back to where we were. Only time will fully tell which one comes to fruition.

 

With this sale announcement, we may see next years announcement soon.

Link to comment
Share on other sites

Great to hear that this park is starting what will hopefully be a bright new chapter in its history.

 

http://www.eprkc.com/wp-content/uploads/2016/11/EPR-Acquisition-of-CNL-Portfolio-11-2.pdf

According to the information in this slideshow, all of the theme parks and some of the water parks will be operated by Premier.

 

This is in-line with what I imagined would happen if the park got sold to another REIT. I think Premier can do some really great things at this park when partnered with an owner that builds marketable capital investment into their growth strategy.

 

Wait... #WinterIsComing?

 

Did I miss something? Maybe an expanded season?

 

I believe they are just referencing a popular meme, nothing more.

Link to comment
Share on other sites

Doug, I think all of us agree with you that Premier is not the problem, but CNL was the problem.

 

The great thing about keeping Premier is that they can go to the new owners with their list of what needs fixing as well as what they would like to add and try to get a better budget. New owners may be willing to invest on the front end if it will pay off later. They are already shelling out 900 million, whats a few extra million to fix things up?

Link to comment
Share on other sites

I'm not sure how switching from one REIT to another will help things. Maybe this one is a little more experienced and wiser, but all REITs tend to be stingy since they are looking for the maximum yield. I doubt we will ever see something like the RMC that was proposed while the park is owned by an REIT. They'd rather go with something like a disko coaster and hype it up like it's a massive thrill coaster.

 

Can't be much worse than CNL though... I hope.

Link to comment
Share on other sites

I'm not sure how switching from one REIT to another will help things.

 

I think it could make a world of difference. CNL's REIT had matured and they were in the liquidation/exit phase, so it didn't really make sense for them to invest in the property so close to a sale.

 

EPR just acquired the park, and will hopefully invest in marketable capital to increase the park's value.

Link to comment
Share on other sites

I just hope Premier and the new owners put in more effort to make Darien Lake great again.

 

Hmmm....now why was I expecting a somewhat different response from you with regards to this announcement?

 

Guess it's due to being away for a little while...things seem a little bit askew to me here.

Link to comment
Share on other sites

I'm not sure how switching from one REIT to another will help things.

 

I think it could make a world of difference. CNL's REIT had matured and they were in the liquidation/exit phase, so it didn't really make sense for them to invest in the property so close to a sale.

 

EPR just acquired the park, and will hopefully invest in marketable capital to increase the park's value.

 

Solid point... when CNL first came in, we got Motocoaster, BlastOff, Boardwalk, Rowdy's Ridge, Splashtown, etc. and re-paints on Boomerang, Viper, Giant Wheel and The Waterslide Complex That Shall Not Be Named.

Link to comment
Share on other sites

You don't think the new owners may close it down?? I hope not. I also worried that they will do away with the theme park, and only have it as a water park..

 

If the new owners decide to pull a "Geauga Lake" on Darien Lake by making the park operate solely as a water park with a campground, a hotel, and an amphitheater for concerts. Then what's going to happen to the rest of the park? I'm just saying even though I want Darien Lake to be operating as a theme and water park.

 

#savedarienlakethemepark

Link to comment
Share on other sites

If the new owners decide to pull a "Geauga Lake" on Darien Lake by making the park operate solely as a water park with a campground, a hotel, and an amphitheater for concerts. Then what's going to happen to the rest of the park? I'm just saying even though I want Darien Lake to be operating as a theme and water park.

 

#savedarienlakethemepark

 

Well, there you go again...

 

I find it strange that it's the fifth or sixth time that you suggested this without any proof at all that this is remotely possible. We've already seen confirmation from the park that it's business as usual, and they will continue to sell 2017 season passes, as they have been for months already.

 

EPR didn't just purchase all of these properties for all that money to just close them down. Geauga Lake was closed for a very specific set of circumstances. Darien Lake remains to be a very strong asset, and probably the largest one out of the whole bundle.

Link to comment
Share on other sites

#savedarienlakethemepark

 

Unless you know of some sort of voodoo curse that was put on all the former Funtime properties, I highly doubt that Darien Lake will be going the way of Geauga and Wyandot Lake.

 

I don't want to gang up on you, but unfounded speculation and conspiracy theories about the park closing can do nothing but hurt the park's image. Might want to take that into consideration in the future.

Link to comment
Share on other sites

I highly doubt that Darien Lake will be going the way of Geauga and Wyandot Lake.

 

I'm confused. One park was closed forever and is sitting abandoned, the other was a complete sh*thole that was run by Six Flags for reasons that nobody understood and has since been purchased by the zoo and improved dramatically with a bunch of modern rides (including a brand new log flume) and slides while keeping the classic family coaster operating. Both parks went in completely opposite directions.

 

You're a really good poster and you know your sh*t, so I'm not attacking what you're saying, I'm just confused as to why you'd put them in the same boat. Personally I think what happened to Wyandot Lake is the best thing that could have reasonably happened to it.

Link to comment
Share on other sites

I highly doubt that Darien Lake will be going the way of Geauga and Wyandot Lake.

 

I'm confused. One park was closed forever and is sitting abandoned, the other was a complete sh*thole that was run by Six Flags for reasons that nobody understood and has since been purchased by the zoo and improved dramatically with a bunch of modern rides (including a brand new log flume) and slides while keeping the classic family coaster operating. Both parks went in completely opposite directions.

 

You're a really good poster and you know your sh*t, so I'm not attacking what you're saying, I'm just confused as to why you'd put them in the same boat. Personally I think what happened to Wyandot Lake is the best thing that could have reasonably happened to it.

Not saying that the zoo acquisition wasn't a good thing. It did, however, transform the rides/attractions side of the business into primarily a water park. Both parks shared that similarity, that's all I was getting at.

 

Point being, it is extremely improbable that Darien would go that route.

 

Sent from my Nexus 6 using Tapatalk

Link to comment
Share on other sites

I think everyone would be e tremely surprised if DL were to close. The land is not worth much to sell it off and it brings in major cash with the hotel and campgrounds on site.

 

I think parks owned by a REIT can have good investments. It's all up to what they want to invest in. CNL was not in it for the long haul. We all knew that. It was even clearly stated in their charter that after so many years they would liquidate assets for their investors. If the REIT wants to make money, they understand they will have to invest. Also, when it is time to liquidate, investments now will pay off then. The more they invest and clean things up and drive attendance up, they ultimately will make more money. CNL did invest at the beginning, just not at the end. I expect similar from EPR as well. With that said, if they could find a small coaster that could be assembled in a month or so, it could be done. I am thinking something like a eurofighter or wild mouse, but more than likely a coaster for 2018.

Link to comment
Share on other sites

I don't think DL will close, too many families go to it as its the only large park in the area, its also one of the only outdoor waterpark options in the area.

 

There are a few things that can happen here but I think DL is in a pretty good position as long as they dont do something really stupid.

 

If Fantasy island goes bad or does something everyone does not like then families will just save up and go to DL which means more attendance for DL, its not that much farther and doesnt cost that much more.

 

Erie county fair continues to get more and more expensive, people will go to DL instead, I am considering doing this myself next year. Fair attendance is already down. I dont think this impacts DL that much as they are 2 different things totally but doing the math last year it was cheaper to go to DL than the fair (during fair week) and that cant be ignored.

 

If they ever build that waterpark in a hotel in downtown Niagara falls that they are supposed to I think that might force DL into upgrading their waterpark a bit. There is a big demand for waterparks in the area and there are not many options to fill that demand and for outdoor waterparks there are only a couple months they can be utilized.

 

Its going to be an interesting year for local parks for sure.

 

 

Sent from my LGLS740 using Tapatalk

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...

Important Information

Terms of Use https://themeparkreview.com/forum/topic/116-terms-of-service-please-read/