In November 2013, CNL Lifestyle Properties purchased Wet'n'Wild Phoenix, with Premier Parks, LLC taking over operations of both Wet'n'Wild Phoenix and Wet'n'Wild Hawaii for the 2014 season. In addition, CNL Lifestyle Properties also purchased the rights to the Wet'n'Wild brand in the United States, which was later used for the company's Palm Springs water park. Village Roadshow Theme Parks will continue to operate and hold a majority stake in ownership of Wet'n'Wild Las Vegas. In a press release, the company stated the water park market in the United States was too mature, and that they would be pursuing other opportunities in Asia.