CNL Lifestyle Properties (CNL) has reached an agreement on the early termination of PARC Management's leases on 18 attractions and family entertainment centres in the US currently operated by PARC.
CNL has already signed with Amusement Management Partners to manage eight FECs, three of which are in Texas, two in Arizona and one each in North Carolina, Tennessee and California.
The company is evaluating management teams for the eight theme parks involved and expects these to be in place ahead of the start of the 2011 season.
It is also in the final stages of planning various new attractions for the parks, of which two are in Oklahoma. The rest are in Colorado, California, Washington, New York, Texas and Arkansas.
A further two properties - one each in Florida and South Carolina - are still at the transition stage.
PARC will now focus on its existing operations, including NASCAR SpeedParks.
