Much of the previous research on white-water rafting has investigated the motivations of adventure tourists. This study identifies German tourists' motivations to participate in white-water rafting during their vacation. In addition, the study aims to provide a wider perspective by segmenting holiday tourists depending on their rafting participation motivations. The study focuses on holiday tourists who took a daily white-water rafting tour in the Koprulu Canyon area in Antalya. Using the Leisure Motivation Scale, 375 questionnaires were collected from the survey participants. Firstly, by conducting a factor analysis, Intellectual, Social, Competence/Mastery, and Stimulus/Avoidance were identified as the main white-water rafting motivations. Later, a cluster analysis was performed in order to segment tourists according to their motivations. Four groups were obtained: Active Vacationers, Reluctant Vacationers, Moderate Vacationers, and Challenge Seeker Vacationers. Implications derived from the study are presented in the discussion section.