NEWS
Cedar Fair acquires Great America amusement park land in California
POSTED 27 Mar 2019 . BY Andy Knaggs
The land beneath California's Great America park in Santa Clara has been leased by Cedar Fair since 1976 Credit: Shutterstock
This is a once in a generation opportunity to solidify our control of 112 acres in the heart of Santa Clara
– Richard A. Zimmerman
In what it calls a "once in a generation opportunity", theme park operator Cedar Fair Entertainment has entered into an agreement to buy the rights to the land beneath its California’s Great America park in Santa Clara, California.

Since opening the park in 1976, Cedar Fair has leased the land from the City of Santa Clara. The new agreement will see the company acquire the land for around US$150m (€133m, £113m), financed through additional long-term borrowing, and with the transaction due to complete in Q2 2019.

Richard A Zimmerman, president and CEO of Cedar Fair, said: "This is a once in a generation opportunity to solidify our control of 112 acres in the heart of Santa Clara. The transaction underscores our long-term commitment to enhancing and expanding California’s Great America, ensuring a high quality, family-friendly entertainment destination for those who live and work in Northern California."

In commenting on the company’s 2018 financial results, reported in Attractions Management last month, Zimmerman said that Cedar Fair would be pursuing a strategy of broadening the guest experience through "immersive new entertainment offerings", expanding its season pass platform into a long-term, relationship-based programme, and looking at "value-enhancing development opportunities adjacent to our parks".
 


CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2020

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS
 
Leisure Management - Cedar Fair acquires Great America amusement park land in California...
02 Apr 2020 Leisure Management: daily news and jobs
 
 
HOME
JOBS
NEWS
FEATURES
PRODUCTS
FREE DIGITAL SUBSCRIPTION
PRINT SUBSCRIPTION
ADVERTISE
CONTACT US
Sign up for FREE ezine
Latest news

27 Mar 2019

Cedar Fair acquires Great America amusement park land in California
BY Andy Knaggs

The land beneath California's Great America park in Santa Clara has been leased by Cedar Fair since 1976

The land beneath California's Great America park in Santa Clara has been leased by Cedar Fair since 1976
photo: Shutterstock

In what it calls a "once in a generation opportunity", theme park operator Cedar Fair Entertainment has entered into an agreement to buy the rights to the land beneath its California’s Great America park in Santa Clara, California.

Since opening the park in 1976, Cedar Fair has leased the land from the City of Santa Clara. The new agreement will see the company acquire the land for around US$150m (€133m, £113m), financed through additional long-term borrowing, and with the transaction due to complete in Q2 2019.

Richard A Zimmerman, president and CEO of Cedar Fair, said: "This is a once in a generation opportunity to solidify our control of 112 acres in the heart of Santa Clara. The transaction underscores our long-term commitment to enhancing and expanding California’s Great America, ensuring a high quality, family-friendly entertainment destination for those who live and work in Northern California."

In commenting on the company’s 2018 financial results, reported in Attractions Management last month, Zimmerman said that Cedar Fair would be pursuing a strategy of broadening the guest experience through "immersive new entertainment offerings", expanding its season pass platform into a long-term, relationship-based programme, and looking at "value-enhancing development opportunities adjacent to our parks".



Connect with
Leisure Management
Magazine:
View issue contents
Sign up:
Instant Alerts/zines

Print edition
 

News headlines
Cox Architecture creates dramatic, flowing theatre for Sydney
Cox Architecture creates dramatic, flowing theatre for Sydney   02 Apr 2020

Cox Architecture's Sydney Coliseum Theatre combines a flowing form with a restrained palette of materials to create a beautiful and dramatic new .... more>>
European fitness market in 2019: revenues reached €28.2bn as memberships grew by 3.8 per cent
European fitness market in 2019: revenues reached €28.2bn as memberships grew by 3.8 per cent   02 Apr 2020

The European fitness industry experienced another year of growth during 2019, with total revenues at clubs across the continent reaching €28.2bn – up .... more>>
Getty Museum challenges followers to recreate works of art at home
Getty Museum challenges followers to recreate works of art at home   01 Apr 2020

Staff at the Getty Museum have come up with a novel way to engage with their visitors during the ongoing pandemic – by asking them to recreate famous .... more>>
Merlin postpones opening of Legoland New York to 2021
Merlin postpones opening of Legoland New York to 2021   01 Apr 2020

Merlin Entertainments has announced that its upcoming Legoland resort in New York, US, will now open in 2021. A response to the ongoing global .... more>>
TCM and Pranayama residences announced for GOCO Spa Daios Cove
TCM and Pranayama residences announced for GOCO Spa Daios Cove   01 Apr 2020

GOCO Spa Daios Cove will embrace ancient holistic healing traditions to improve health and wellbeing with visiting wellness practitioners in Crete, .... more>>
Rick Cook on the need for sustainability, wellness and resiliency in design
Rick Cook on the need for sustainability, wellness and resiliency in design   01 Apr 2020

Since being established in 2003, COOKFOX Architects have gained a reputation for being proponents of architecture at the intersection of .... more>>
Company profile


iPlayCO

iPlayCo was established in 1999.

View full profile>>

Catalogue gallery


Featured Supplier

RKF Luxury Linen collaborates with CODAGE Paris

RKF Luxury Linen collaborates with CODAGE Paris

RKF Luxury Linen, a creator of the finest linen for spas and cosmetic brands, has announced a new collaboration with French cosmetic brand CODAGE Paris. More>>




in this issue

• Budget: business rates suspended
• New dates for FIBO, IHRSA cancelled
• Plans turned down for UK Great Wolf site



Latest jobs

Jobs Search



Recruitment Manager
Salary: Competitive
Location: South East, UK
Company: Merlin Entertainments Group
Curator
Salary: Competitive
Location: Orlando, Florida, USA
Company: Sea Life
Personal Trainer
Salary: Self Employed
Location: Wolverhampton, UK
Company: Xercise4Less
Diary dates
Powered by leisurediary.com




31 Mar - 02 Apr 2020

World Travel Market Latin America

Expo Center Norte, Sao Paulo, Brazil



Leisure Management magazine 2018 issue 1
Leisure Management
2018 issue 1

View issue contents
View on turning pages
Download PDF
  Restaurants: Sharing the love
Famous restaurants are popping up in unexpected places. We found out more More>>
  Interview: Louis D’Amore
Louis D’Amore on the work of the International Institute for Peace through Tourism More>>


Leisure Management magazine 2016 issue 1

Leisure Management
2016 issue 1

View issue contents
View turning pages
Download PDF
  Talking Point: Cruise control
The cruise industry is expanding, but concerns are growing about pollution More>>
  Social good: Winds of change
Learn about the Change Foundation and the opportunities it creates More>>


Published by The Leisure Media Company Ltd Portmill House, Portmill Lane, Hitchin, Herts SG5 1DJ. Tel: +44 (0)1462 431385 | Contact us | About us | © Cybertrek Ltd