BESSEMER, Ala.-- Several former Six Flags amusement park executives formed Adrenaline Family Entertainment last year.
They're acquiring theme parks throughout the country.
Alabama Adventure is their second purchase.
Spokesman Brian McDuff says Alabama Adventure fans will not see many changes at the park this year.
“We’re going to maintain this season, begin a lot of market research, and see what's appropriate for a park in this market. In ‘09 we plan to expand the theme park and the water park,” McDuff said.
Former owner, Southland Entertainment and its parent company AMG, says Alabama Adventure performed well.
“The revenues and attendance and earnings had gone up substantially over the last five years,” CEO Kent Lemasters said.
But, the company owns 150 more acres of undeveloped land around Alabama Adventure.
By selling the park now, Southland Entertainment raises more money to build on that land.
“It gave us the opportunity to focus our time, energy and resources on development while someone else is operating the park,” Lemasters said.
With the park now sold, Southland will focus on building an R.V. park, retail space, plus an indoor water park and resort hotel similar to Ross Bridge.
“We’re planning for a minimum of 200 units to 280 units, a conference center and 45,000 square foot water park, 25,000 square foot conference center, and an indoor amusement center for families.”
Lemasters says his company doesn't have a timetable for completing the planned development.
Southland proposed a similar hotel project to city and state officials a few years ago, but didn't get the economic incentives they had hoped for.
They will go before both groups again soon touting the projected economic benefits their proposal could bring.
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