Canada’s Wonderland could be in for its biggest upgrade since Cedar Fair purchased Canada’s largest amusement park from CBS Corp back in 2006 – including a potential expansion that would turn Wonderland into a full-out resort with a hotel on its park grounds.
“Canada’s Wonderland is going to get something interesting coming up,” Cedar Fair CEO Matt Ouimet told BNN in an exclusive interview Thursday. “Toronto is one of our most important markets.”
Cedar Fair has recently started getting into the hotel business, building five hotels on some of its 11 resorts, and Canada’s Wonderland is likely to be home to the next one.
“Management expects to announce details on branded flagged hotel properties in Toronto and Charlotte by year-end 2017,” wrote Tim Conder, an analyst at Wells Fargo, in a note to clients after a recent trip to Canada’s Wonderland.
“We have identified Canada's Wonderland as a desirable location where we are considering expanding our resort accommodations,” a Cedar Fair spokesperson told BNN via email. “However, no announcements have been made at this time.”
While Canada’s Wonderland lists itself as a 379-acre park, 79 acres remain undeveloped.
“We take things out when we put things in,” said Ouimet. “We do think resorts help make [amusement parks] more of a full-day experience.”