The $22-million Castaway Bay project is scheduled to open in late 2004. Surrounded by 237 hotel rooms, the 38,000-sf water park will have a Caribbean theme and feature a 100,000-gallon wave pool; a 35-ft-high, 520-ft-long water roller coaster; a multi-story interactive play area with a 1,000-gallon bucket that empties on guests every 10 minutes. In addition, the development will feature a state-of-the-art arcade, a day spa, various dining and merchandise facilities and an adjacent marina.

"Our guest accommodation properties at the park continue to generate solid operating results, including a 5% increase in revenues this year," says Cedar Fair LP chairman/president/CEO Dick Kinzel. "The addition of Castaway Bay and a world-class indoor water park facility will now give us the ability to entertain families all year long."

Kinzel says the investment is in addition to the partnership's previously announced plans for $25 million in capital expenditures at its parks for the 2004 season, including the expansion of the Lighthouse Point luxury camping complex and Soak City water park at Cedar Point, and the addition of new mid-sized thrill rides at Knott's Berry Farm and Worlds of Fun.