Six Flags is continuing with its waterpark acquisition and development strategy after initial success with new parks in Mexico and California.

The operator – which recently opened its newest Six Flags waterpark in Oaxtepec, Mexico, and also reacquired Waterworld California in April as its 20th property – has set out a strategy of acquiring or developing waterparks near its existing theme park assets in North America, with the goal of boosting revenues at both locations.

“In our first test market of Mexico City, we've seen season pass sales increase by almost 40 per cent this year, most of which we estimate is due to the new water park being bundled into the season pass offering,” said Six Flags president and CEO, Jim Reid-Anderson, speaking during the recent Six Flags earnings call.

“I'm very pleased with both the new parks that we have. Our park in Oaxtepec and our new park in Concord are both performing very well. These are parks that we have planned for a long time and we're so happy to have them in our system.”

So far in 2017, Six Flags invested US$97m (€83.4m, £74.5m) in new capital, which includes the two waterpark projects. Revealing plans in April to make a bigger splash in the waterparks sector with new acquisitions, Six Flags said that these kind of deals allowed the operator to expand capacity and attendance with minimal investment, providing a quick payback and high return on invested capital.

“Since we announced our water park acquisition strategy, we have received multiple inbound inquiries from water park operators around the US,” said Reid-Anderson. “So the opportunity is not only compelling, but it's large scale.”