PARC Management is an operations company based in Jacksonville, Florida, USA that formerly operated an assortment of amusement parks and water parks in the United States.
History
On January 11, 2007, the company announced that they would acquire seven properties from Six Flags for $312 million.[1] As part of the agreement, PARC simultaneously sold the properties to CNL Lifestyle Properties and began leasing them back.[2]
In June 2008, the company took over operations of Magic Springs in Arkansas, making up eight parks in their lineup.[3] In August, the company acquired the Myrtle Waves Water Park in Myrtle Beach, South Carolina, as well as the NASCAR Speedparks chain.[4]
In October 2010, the company revealed in their SEC filings that they had defaulted on their lease obligations with CNL.[5] CNL subsequently announced that it had reached an agreement to terminate PARC's lease on the properties it owned.[6]
On January 25, 2011, Herschend Family Entertainment announced that they had taken over PARC's operations for Darien Lake and Elitch Gardens.[7]
Former Properties
Theme Parks
Park | Location | Opened | Acquired | Previously | Additional Info |
---|---|---|---|---|---|
Elitch Gardens | Denver, Colorado, USA | 1995 | 2007 | Six Flags Elitch Gardens | Acquired from Six Flags in January 2007. The operations lease was terminated by owners CNL Lifestyle Properties and given to Herschend Family Entertainment in 2011, with CNL taking over operations in 2013. Kroenke Sports & Entertainment purchased the park in 2015 and appointed Premier Parks as operators. |
Darien Lake Theme Park Resort | Buffalo, New York, USA | 1956 | 2007 | Six Flags Darien Lake (1999-2006) | Acquired from Six Flags in January 2007. The operations lease was terminated by owners CNL Lifestyle Properties and given to Herschend Family Entertainment in 2011, and eventually Premier Parks in 2014. EPR Properties purchased the park in 2017 and sold the lease back to Six Flags in 2018. |
Frontier City | Oklahoma City, Oklahoma, USA | 1958 | 2007 | N/A | Acquired from Six Flags in January 2007. The operations lease was terminated by owners CNL Lifestyle Properties and given to Premier Parks in 2011. EPR Properties purchased the park in 2017 and sold the lease back to Six Flags in 2018. |
Magic Springs | Hot Springs, Arkansas, USA | 1978 | 2008 | N/A | Took over park operations from Themeparks LLC in 2008. The operations lease was terminated by owners CNL Lifestyle Properties and given to Amusement Management Partners in 2011. EPR Properties purchased the park in 2017 and appointed Premier Parks as operator. |
Pavilion Park | South Carolina | ||||
Wild Waves Theme Park | Federal Way, Washington, USA | 1977 | 2007 | Wild Waves & Enchanted Village | Acquired from Six Flags in January 2007. The operations lease was terminated by owners CNL Lifestyle Properties and given to Norpoint Entertainment in 2011. EPR Properties purchased the park in 2017 and appointed Premier Parks as operators. |
Ref[8]
Water Parks
Park | Location | Opened | Acquired | Previously | Additional Info |
---|---|---|---|---|---|
Myrtle Waves | Myrtle Beach, South Carolina, USA | 1985 | 2008 | N/A | Took over management operations in 2008. |
Splashtown at Darien Lake | Buffalo, New York, USA | 1990 | 2007 | Barracuda Bay | Located within the grounds of Darien Lake Park Resort. Acquired alongside its main theme park from Six Flags in January 2007 and renamed in 2010. The operations lease was terminated by owners CNL Lifestyle Properties and given to Herschend Family Entertainment in 2011, and eventually Premier Parks in 2014. EPR Properties purchased the park in 2017 and sold the lease back to Six Flags in 2018. |
SplashTown Houston | Spring, Texas, USA | 1984 | 2007 | Splashtown USA Six Flags Splashtown |
Acquired from Six Flags in January 2007. The operations lease was terminated by owners CNL Lifestyle Properties and given to Premier Parks in 2011. Renamed Wet 'n' Wild SplashTown in 2014 after CNL's purchase of the brand. EPR Properties purchased the park in 2017 and sold the lease back to Six Flags in 2018, who renamed it as Six Flags Hurricane Harbor SplashTown. |
Waterworld California | Concord, California, USA | 1995 | 2007 | Waterworld USA Concord Six Flags Waterworld |
Acquired from Six Flags in January 2007. The operations lease was terminated by owners CNL Lifestyle Properties and given to Premier Parks in 2011. EPR Properties purchased the park in 2017 and sold the lease back to Six Flags that same year, renaming it to Six Flags Hurricane Harbor Concord in 2018. |
White Water Bay | Oklahoma City, Oklahoma, USA | 1981 | 2007 | White Water | Located within fifteen miles from Frontier City. Acquired from Six Flags in January 2007. The operations lease was terminated by owners CNL Lifestyle Properties and given to Premier Parks in 2011. EPR Properties purchased the park in 2017 and sold the lease back to Six Flags in 2018, who renamed the park as Six Flags Hurricane Harbor Oklahoma City in 2020. |
References
- ↑ "CNL trust buys 7 parks from Six Flags". The Orlando Sentinel. 2007-01-12. pp. C14. Retrieved 2024-12-25.
- ↑ "Six Flags owner to sell 7 parks for $312M". St. Louis Business Journal. January 11, 2007. Retrieved February 19, 2012.
- ↑ https://blooloop.com/uncategorised/news/parc-management-llc-to-purchase-magic-springs-crystal-falls-in-hot-springs-ar/
- ↑ https://waterfunproducts.com/assets/files/castaway-cove-amusement-today-08.pdf
- ↑ "CNL Lifestyle Properties, Inc. October 2010 Form 10-Q". 2010-09-30. Retrieved 2011-01-20.
- ↑ "CNL completes ouster of PARC Management from Darien Lake". The Daily News. 2010-11-24. Archived from the original on 2011-02-03. Retrieved 2011-01-20.
- ↑ https://www.coaster101.com/2011/01/25/herschend-to-manage-elitch-gardens-and-darien-lake/
- ↑ "B&C sheds 2 amusement parks". Sun-News. 2009-05-23. p. 29. Retrieved 2024-12-25.