Cedar Fair buys 61 acres next to Carowinds

Posted Monday, August 1, 2011 10:32 PM | Contributed by Jeff

[Ed. note: The following is an excerpt of a press release. -J]

Cedar Fair Entertainment Company (NYSE: FUN) today announced it has purchased 61 acres of land adjacent to the Company's Carowinds amusement park located in Charlotte, NC. This land acquisition will enable the Company to achieve future development and expansion of the facility.

"We are thrilled about the growth opportunities this land will provide for future development of Carowinds, as well as the increased beneficial economic impact it will have on both Mecklenburg and York counties," said Matt Ouimet, Cedar Fair's President. "We believe strongly in Carowinds' potential and its excellent opportunities for continued growth in the coming years. Since 2006, we have invested more than $45 million in new rides and attractions, which clearly demonstrates Cedar Fair's commitment to this leading park's future. This land acquisition will allow us to continue to develop this facility to its full potential."

Recognized as one of the largest regional amusement parks in the Southeast United States, Carowinds features more than 50 rides, shows and attractions, including 13 world-class roller coasters, a 20-acre water park and an on-site 55-acre campground. New for 2011 was Snoopy's Starlight Spectacular, a 3-acre night-time light and sound experience featuring Snoopy and the PEANUTS™ gang.

Read the entire press release from Cedar Fair.

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Tuesday, August 2, 2011 12:26 AM

According to Wiki, the park (including the water park) is 122 acres. So this is a 50% overall increase in land. Wow.

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Tuesday, August 2, 2011 12:39 AM

I've only been there a few times. Carowinds does seem kind of small for it's geographic location. A park expansion would be nice, and a hotel seems like a profitable endeavor (lol), however, I hope that the entire extra acreage isn't going just for lodging.

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Tuesday, August 2, 2011 7:45 AM

For anyone curious, there is a map on Screamscape showing where the new land is as well as all the land the park owns. Like I (and gator and travis) said: new hotel.

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Tuesday, August 2, 2011 11:41 AM

If Carowinds could support a hotel, it would already be there...or Maverick.

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Tuesday, August 2, 2011 12:19 PM

What is this "or Maverick" reference?

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Tuesday, August 2, 2011 1:37 PM

My hunch on the hotel is that it will expand the Castaway Bay brand for Cedar Fair. With the great weather Charlotte experiences for 7+ months out of the year I wouldn't be surprised if it has outdoor elements and may also include a Challenge Park facility too. Being in direct view right along 77 and all the traffic that will pass it this is a win-win for Cedar Fair.

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Tuesday, August 2, 2011 4:16 PM

You don't need 61 acres for a hotel so perhaps that is one piece of the puzzle. There are a number of options considering the size and location of that new property. Move the parking into the new area, for instance, and have direct highway on/off access and then develop the current parking into whatever.

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Tuesday, August 2, 2011 4:39 PM

Maybe not, but you might need 61 acres to warehouse all the MONEY you'd bring in from an on-site hotel....

Oh, wait, this isn't a GAdv thread...nevermind. :)

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Tuesday, August 2, 2011 8:21 PM

mlnem4s said:
My hunch on the hotel is that it will expand the Castaway Bay brand for Cedar Fair. With the great weather Charlotte experiences for 7+ months out of the year I wouldn't be surprised if it has outdoor elements and may also include a Challenge Park facility too. Being in direct view right along 77 and all the traffic that will pass it this is a win-win for Cedar Fair.

I actually brought that up with the PR guy and he seemed to indicate that unfortunately ig wouldn't have an indoor water park. Would love for it to, though.

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Tuesday, August 2, 2011 8:33 PM

^ Except there is a new guy calling the shots now and I wouldn't be surprised to see more experienced Disney folk come on board at Cedar Fair :) Dick is/was adverse too a great many things as we all know; Matt embraces the "new" as well as creativity. A simple hotel slapped down just won't cut it and Matt knows that.

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Tuesday, August 2, 2011 8:40 PM

Don't get me wrong, I'd love for that to be true. Not sure if CLT needs two indoor waterpark/hotels, but GWL is always packed so if so then great.

Last edited by Tekwardo, Tuesday, August 2, 2011 8:42 PM
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Tuesday, August 2, 2011 10:08 PM

clt? more letters please.

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Tuesday, August 2, 2011 10:13 PM

mlnem4s said:
My hunch on the hotel is that it will expand the Castaway Bay brand for Cedar Fair. With the great weather Charlotte experiences for 7+ months out of the year I wouldn't be surprised if it has outdoor elements and may also include a Challenge Park facility too. Being in direct view right along 77 and all the traffic that will pass it this is a win-win for Cedar Fair.

Don't think that will happen - but we shall see.

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Tuesday, August 2, 2011 10:30 PM

Jason Hammond said:
clt? more letters please.

Um, where is Carowinds located? What's the closest airport? :-)

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Tuesday, August 2, 2011 10:33 PM

Jason, CLT is the airport code for Charlotte and is often used in online conversation versus having to spell out city names.

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Tuesday, August 2, 2011 10:37 PM

Exactly. And a google search of clt brought the answer up as the first result.

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Tuesday, August 2, 2011 11:30 PM

Excuse me for not knowing the code for Charlotte. I forgot this was AirportBuzz

Has anyone seen the roling eyes smiley, I can't seem to find it anywhere.

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Wednesday, August 3, 2011 7:38 AM

Excuse me for forgetting to teach you how to Google.

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Wednesday, August 3, 2011 8:25 AM

I know how to use Google. I shouldn't have to. I knew what you meant by GWL. Most people using acronyms on here are referring to parks and coasters. Most park and coaster acronyms are not something you would be able to google easily, as enthusiasts are the only ones who use them. Which is why I asked the question as opposed to doing a google search. I figured you were referring to a park and had no idea what you were talking about.

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