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Six Flags may trim properties

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Postby Galvan on February 15th, 2006, 2:34 pm
Six Flags is making plans to grow while hinting it may shrink.

Mark Shapiro, the theme park operator's new chief executive, announced Tuesday that Magic Mountain in Valencia would unveil the world's tallest and fastest "flying" roller coaster in the spring.

But he also suggested that the company would reduce its real estate holdings, which he termed excessive, based on the results of a report it commissioned that is due at the end of next month.

<a href="http://www.chicagotribune.com/travel/la-fi-sixflags15feb15,1,4246035.story?coll=chi-homepagetravel-hed&ctrack=1&cset=true" class="news" target="blank">Read more from the Chicago Tribune</a>
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Postby greatamerica2003 on February 15th, 2006, 6:15 pm
There are some cases where the company owns far more land at each site than it uses. At St. Louis, the actual theme park sits on about 25% of the total property. The rest is undeveloped.

Shapiro is not talking about selling parks. but excess land.
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Postby twixmix0303 on February 15th, 2006, 7:26 pm
This certainly doesn't come as a suprise. It's probably the quickest and easiest way to climb out of debt.
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Postby Galvan on February 15th, 2006, 7:35 pm
And thats just one example of just what the article is talking about...

For whatever reason Six Flags bought acers and acers of land around parks and for reasons unknown just left it undeveloped.

Under Shapiro i definately think Six Flags is going in the right direction.

Then again theres really no other direction the company could go.
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Postby rich12_16 on February 15th, 2006, 11:14 pm
We wont be affected, as we already sold our excess land.
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Postby Maggie&meSFGAm? on February 18th, 2006, 12:10 pm
Screamscape also has a quote that it sounds like they would like to sell some more parks under the Six Flags section. Basically, he says that 30 or more it just to much. Read his quote for yourself.

http://www.screamscape.com/html/industry_news.htm
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Postby twixmix0303 on February 18th, 2006, 7:09 pm
No, he's just saything that when you acquire 30 of anything, there's going a be a few bad apples in the bunch.
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Postby zjohn1988 on February 18th, 2006, 9:21 pm
30 parks is nice to have, but it is too much. Where with Disney, theres a few parks and then Disney can charge more knowing people will come to the park since there is so few of them. If there were less six flags parks, there could be a chance that people would travel to the parks from long distances and spend more money in the park.



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