Jump to content
Sign in to follow this  
Medusa42

Schlitterbahn won't say if Kansas City water park will open in 2019

Recommended Posts

Odd response, you would think they would just say they plan to open in 2019 and an announcement will be made later.

 

https://www.kansascity.com/news/local/article224228640.html

Quote

Will Schlitterbahn water park open for 2019 season? Company won’t say

 

By Steve Vockrodt
January 10, 2019 04:09 PM, Updated January 10, 2019 06:05 PM

 

Schlitterbahn couldn’t say on Thursday whether it would open its Kansas City, Kan., water park in 2019, telling The Star “we don’t have any news” when asked if and when the attraction would open for the upcoming season.

 

Season passes for 2019 for that park were not available for sale Thursday on Schlitterbahn’s website, while customers could make those purchases for the company’s four Texas locations.

 

Winter Prosapio, spokeswoman for Schlitterbahn, acknowledged that Kansas City customers could buy season passes by now in years past.

 

“We offered last year, you may recall, every season pass holder was given the next season free, so there’s not as much pressure there,” Prosapio said.

 

Schlitterbahn opened in 2009 in Kansas City, Kan., its first operation outside of Texas. It has had a difficult time since the 2016 death of a 10-year-old boy on the Verruckt water slide.

 

Asked directly if the Kansas City location would open up in 2019, Prosapio said: “We don’t have any news so far about our Kansas City park at this time.

 

“We focus a great deal of our energy on spring break in Texas, because that’s kind of the start of our season. Right around that time, we will definitely have some news about Kansas City.”

 

A person answering the phone listed for questions about ticket purchases said season passes were not available in Kansas City and that she didn’t know when they would be.

Is Schlitterbahn considering selling its Kansas City park?

 

“There’s nothing I can tell you about that situation at this point,” Prosapio said.

=============================================================================================================================================================

EPR Properties, a publicly traded real estate investment trust in Kansas City that holds a mortgage on the Schlitterbahn property, warned investors last year that the criminal indictments, the resulting bad publicity and the state’s hesitancy to issue more sales tax revenue (STAR) bonds for the project could endanger the chances of Schlitterbahn repaying a $174 million mortgage on property Schlitterbahn bought in KCK.

 

A spokesman for EPR Properties did not return a call seeking comment Thursday.

 

On Schlitterbahn’s website, pages for its Texas locations prominently featured links for renewing season passes and other park information. Its page for the Kansas City location featured more limited information, along with a look back to 2018 and a seemingly uncertain pledge about the future.

 

“Thank you to our fans who splashed away summer with us,” the site reads. “We loved hosting our #BahnFamily in 2018 and can’t wait to see what the future holds.”

 

From the EPR Properties Q3 2018 Earnings Call on October 30th, 2018.

Quote

Q - Craig Mailman

Okay. And then, just last one for me, as I look at your loan maturities next year, can you remind us what the $176 million one is that expires in May and kind of what the expectation is there for repayment and opportunities to roll that forward?

Greg Silvers

Sure. That's the Schlitterbahn note. So, again, we’ll take a look at that. We've historically had a history of rolling that. I can't tell you right now kind of where we will be exactly on that. But what I can tell you of their performance is that they’ve fully funded all the reserves. So, we’re fully funded up. So, we will probably be talking with them in the near future about kind of what they want to do.

Q - Craig Mailman

Okay. I know it's a 7% and 10%. What’s the blended on the full balance?

Greg Silvers

It probably blends to a low 8.

 

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

×