Schlitterbahn sells New Braunfels, Galveston water parks

Published 12:02 pm Thursday, June 13, 2019

Madison Iszler via Associated Press

Schlitterbahn Waterparks and Resorts — which has dealt with a gruesome death, indictments and financial troubles — is selling the bulk of its holdings.

Ohio-based Cedar Fair has an agreement with the owners of Schlitterbahn to purchase the company’s New Braunfels park and resort property as well as their Galveston park.

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“It’s important to know that Cedar Fair values Schlitterbahn’s character and brand promise,” the Henry family — Schlitterbahn’s owner — said in a statement. “They have committed to not only keeping Schlitterbahn awesome but helping us grow!”

RELATED: Schlitterbahn is celebrating 40 years this summer with freebies and other special deals

The sale agreement comes as a Schlitterbahn entity was required to pay off a $186.4 million note by June 1 to Kansas City Real Estate Investment Trust. The maturity date on the loan had been extended a month.

The Henry family decided to sell the properties last year and has been working to identify a buyer to take over, according to the statement.

The company will continue to operate its South Padre waterpark and resort, which will be rebranded eventually. Corpus Christi is a Diamond Beach property.

Ticket and season pass prices as well as reservations will not change, the company said. Events will continue as scheduled.