North America’s waterpark industry continues to expand with more than US$500m (€450m, £348m) worth of new investment pumped into the sector in 2015, according to a new report.

The Waterpark Forecast by Hotel & Leisure Advisors (H&LA) said that waterpark-related development spending will increase again in 2016, with a number of new facilities opening and a number of expansions to existing waterparks already on the cards.

Among the openings in 2015, two major waterparks
opened in the Poconos region of Pennsylvania, while Great Wolf Lodge continues to invest in properties opening across the US, with the operator launching two large indoor waterparks in 2016 in California and Colorado, adding to a portfolio of 13 resorts.

Last year 18 waterparks opened their doors, while a further 25 waterparks are planned for 2016, the largest of which will open in Texas with 27 waterslides at a cost of US$45m (€41.2m, £31.1m). In total H&LA lists 996 active waterparks in the US as of February 2016.

Texas is leading the charge when it comes to new waterparks, with eight new openings in 2016, seven of which will be outdoor and one indoor.

“We attribute the waterpark industry's continued growth to properties offering a variety of amenities and attractions that draw existing and new guests to the waterpark experience,” said the H&LA report.

“The waterpark industry does continues to face challenges in getting larger projects financed as investors and lenders perceive the industry to be more risky than more traditional real estate investments such as apartments.

“The industry has more risk due to a shorter operating season for outdoor waterparks, which are typically open during the summer season only. High levels of seasonality exist at many indoor waterpark resorts and standalone indoor waterparks that are typically busy on weekends and during school vacations but slow during the week when school is in session.”

To read the full report, click here.