Hotel Online Special Report
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Buena Park Hotel at Knott's Berry Farm to be Acquired by Cedar Fair, L.P. 
 
SANDUSKY, Ohio, Dec. 18. 1998 -  Cedar Fair, L.P. (NYSE: FUN), a publicly traded partnership which owns and operates five amusement parks, today announced that it has reached agreement in principle for the acquisition of the Buena Park Hotel, which is adjacent to its Knott's Berry Farm park in Buena Park, California. The transaction is subject to a number of conditions and conclusion of a definitive agreement. Further details were not disclosed.

"The Buena Park Hotel will be a first-class facility once an extensive renovation is completed in a few months, and should be an excellent complement to Knott's Berry Farm," said Richard L. Kinzel, president and chief executive officer of Cedar Fair. "We have had great success with the hotel facilities at our Cedar Point resort, and we believe the hotel business represents a good opportunity for us at our California park as well."

The Buena Park Hotel offers 320 guest rooms, more than 20,000 square feet of conference and banquet room space, and various dining and entertainment facilities.

"With the acquisition and renovation of the Buena Park Hotel, we will be able to offer the guests of Knott's Berry Farm all the amenities of a full vacation destination," said Jack Falfas, vice president and general manager of Knott's Berry Farm.

Cedar Fair owns and operates Cedar Point, located on Lake Erie between Cleveland and Toledo; Knott's Berry Farm in Buena Park, California; Valleyfair near Minneapolis/St. Paul; Dorney Park Wildwater Kingdom, near Allentown, Pennsylvania; and Worlds of Fun and Oceans of Fun, in Kansas City, Missouri.

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Contact:
Brian Witherow of Cedar Fair, 419-627-2173/
    Web site:  http://www.cedarfair.com
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Also See: Los Angeles CVB Report: Hotel Occupancy At Highest Level in Decade / Dec 1998 

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