Six Flags Entertainment Corporation has been snapping them up.
The Grand Prairie, Texas-based theme park giant recently gained lease rights to five properties: Wet n’ Wild Splashtown in Houston; Wet n’ Wild Phoenix; Darien Lake in Buffalo, N.Y., which includes a theme park and waterpark; and Frontier City and its affiliated waterpark, White Water Bay, in Oklahoma City.
The recent activity brings the company’s toll of stand-alone waterparks to 11, leading it to claim status as the nation’s biggest waterparks operator.
“They will now have the most branded properties in the outdoor waterpark industry,” said David Sangree, president of Hotel & Leisure Advisors in Lakewood, Ohio.
And the company remains on the lookout for more, said Sandra Daniels, a corporate spokesperson. This interest can mean good news for owners looking to partner with — or sell to — a theme-park heavyweight.
“For years, the biggest challenge in the waterparks industry was finding buyers,” Sangree said.
The reason the company is so bullish on waterparks: Season passes.
A Six Flags season pass provides access to the chain’s 17 parks nationwide. The newly acquired properties all sit within an easy drive to an existing Six Flags location, making them convenient outlets to sign up more members and boost cross visitation between parks.
“The addition of a waterpark or theme park in adjacent cities increases the addressable market and creates additional value for guests and will enable us to sell more season passes,” Daniels said.
Under the management of Six Flags, the parks stand to generate more revenue. The chain typically charges nonmembers for parking. It also sells unique branded merchandise featuring Looney Tunes and D.C. Comics characters, which have become synonymous with the theme-park brand due to a licensing agreement with Warner Bros. Six Flags also provides visitors ample opportunity to purchase photos.
“I’m sure they’ll offer similar opportunities in these parks, which may cause guests to spend more [there] than they did before,” Sangree said.
Last year, Six Flags took over the operation of Waterworld California in Concord, Calif. It has since been converted to Hurricane Harbor, Six Flags’ waterpark brand.
The newly acquired properties likely will be rebranded, as well, Daniels said.
