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Blackstone takes 65 per cent stake in Great Wolf
POSTED 03 Oct 2019 . BY Andy Knaggs
Great Wolf lodges include indoor waterparks and a range of other recreational activities
Great Wolf stands to benefit greatly from Blackstone’s world-class insights and expertise in hospitality
– Murray Hennessy
Great Wolf Resorts, which runs 18 family-oriented waterpark and entertainment resorts in the US and Canada, is targeting accelerated growth under a new joint ownership venture that sees hospitality and leisure investor Blackstone Real Estate Partners take a 65 per cent controlling interest in the company.

Blackstone will share ownership with Centerbridge Partners, which is the existing owner of Great Wolf, creating a new US$2.9 bn (€2.64bn, £2.34bn) joint venture.

Tyler Henritze, head of US acquisitions for Blackstone Real Estate, said the company had been impressed by the evolution and growth of the company under Centerbridge’s ownership, with the development of an enriched guest experience and seven new lodges having been opened since 2015.

Describing Blackstone as "one of the most experienced and successful investors in the hospitality and leisure industries", William D. Rahm, a senior managing director and global head of real estate at Centerbridge, said it was also highly supportive of Great Wolf’s growth potential and ability to provide "unparalleled experiences for families".

Murray Hennessy, the CEO of Great Wolf Resorts, commented: "We are pleased to welcome Blackstone as a new member of the Great Wolf pack and excited to begin the next chapter for our rapidly expanding company. Great Wolf stands to benefit greatly from Blackstone’s world-class insights and expertise in hospitality, and values Centerbridge’s continued involvement as we look to further expand the Great Wolf brand with the development of new resorts and enhancements to our renowned immersive family experiences."

Great Wolf's lodges each contain a full-service hotel, indoor waterpark, recreational activities including games rooms and bowling alleys, food and beverage offerings, and themed experiences with the company's own proprietary characters. Its pipeline of expansion includes a new lodge in northern California due to open in 2020.
The theme park operator is expanding quickly, and will accelerate further with the new ownership structure
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Jobs   News   Products   Magazine
NEWS
Blackstone takes 65 per cent stake in Great Wolf
POSTED 03 Oct 2019 . BY Andy Knaggs
Great Wolf lodges include indoor waterparks and a range of other recreational activities
Great Wolf stands to benefit greatly from Blackstone’s world-class insights and expertise in hospitality
– Murray Hennessy
Great Wolf Resorts, which runs 18 family-oriented waterpark and entertainment resorts in the US and Canada, is targeting accelerated growth under a new joint ownership venture that sees hospitality and leisure investor Blackstone Real Estate Partners take a 65 per cent controlling interest in the company.

Blackstone will share ownership with Centerbridge Partners, which is the existing owner of Great Wolf, creating a new US$2.9 bn (€2.64bn, £2.34bn) joint venture.

Tyler Henritze, head of US acquisitions for Blackstone Real Estate, said the company had been impressed by the evolution and growth of the company under Centerbridge’s ownership, with the development of an enriched guest experience and seven new lodges having been opened since 2015.

Describing Blackstone as "one of the most experienced and successful investors in the hospitality and leisure industries", William D. Rahm, a senior managing director and global head of real estate at Centerbridge, said it was also highly supportive of Great Wolf’s growth potential and ability to provide "unparalleled experiences for families".

Murray Hennessy, the CEO of Great Wolf Resorts, commented: "We are pleased to welcome Blackstone as a new member of the Great Wolf pack and excited to begin the next chapter for our rapidly expanding company. Great Wolf stands to benefit greatly from Blackstone’s world-class insights and expertise in hospitality, and values Centerbridge’s continued involvement as we look to further expand the Great Wolf brand with the development of new resorts and enhancements to our renowned immersive family experiences."

Great Wolf's lodges each contain a full-service hotel, indoor waterpark, recreational activities including games rooms and bowling alleys, food and beverage offerings, and themed experiences with the company's own proprietary characters. Its pipeline of expansion includes a new lodge in northern California due to open in 2020.
The theme park operator is expanding quickly, and will accelerate further with the new ownership structure
RELATED STORIES
Great Wolf expanding overseas as operator plans £200m waterpark for Oxfordshire, UK


US waterpark operator Great Wolf Resorts has announced plans to open its first venture overseas, with the Great Wolf Lodge coming to Oxfordshire, UK, in 2022.
US$200m Great Wolf waterpark and resort planned for Maryland


A proposed $200m (€174.6m, £157.8m) project to build Maryland’s first Great Wolf Lodge water park would deliver up to 600 new full and part-time jobs and could attract more than half a million visitors annually, according to administrators of the town of Perryville, US.
Great Wolf's 18th property announced for Arizona


Great Wolf, which is scheduled to open new resorts in LaGrange, Georgia, in late spring 2018, and in Gurnee, Illinois, in summer, has announced it’s working on a new indoor waterpark destination in Scottsdale, Arizona.
MORE NEWS
Eden Project targets 2020 start on geothermal energy project
A long-planned project to drill for geothermal heat to power the Eden Project site in Cornwall will finally go ahead, after EU and Cornwall Council funding was approved.
Alton Towers announces new attraction based on David Walliams' books
David Walliams, the comedian, actor and best-selling author, is partnering with the UK's Alton Towers Resort to bring characters from his children's books to life at the park in a new attraction: The World of David Walliams.
UK government invests £250m into cultural and creative infrastructure projects
Funding support for York's National Railway Museum, Coventry's 2021 UK City of Culture programme and infrastructure and maintenance work at local and regional museums across the country are all included in the UK Government's proposed new Culture Investment Fund.
Blackpool Museum to evoke lively spirit of UK's seaside entertainment heritage
A £13m (US$16.8m, €15.1m) project to create a museum that celebrates Blackpool's role in the development of British popular culture is moving forward, following the award of a £4m (US$5.2m, €4.7m) grant from the National Lottery Heritage Fund.
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COMPANY PROFILES
Sally Corporation

Our services include: Dark ride design & build; Redevelopment of existing attractions; High-quality [more...]
Holovis

Holovis is a privately owned company established in 2004 by CEO Stuart Hetherington. [more...]
Simworx Ltd

The company was initially established in 1997. Terry Monkton and Andrew Roberts are the key stakeh [more...]
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QubicaAMF is the largest and most innovative bowling equipment provider with 600 employees worldwi [more...]
+ More profiles  
FEATURED SUPPLIER

Rebranded EAG International Expo set to become leading trade show for the international entertainment and attractions industry
The newly rebranded Entertainment, Attractions and Gaming International Expo (EAG) is set to become the entertainment industry’s leading and most comprehensive trade event. [more...]
VIDEO GALLERY

Red Raion - Miko and the Spell of the Stone - Movie Trailer
Red Raion is the CGI studio specialized in media based attraction. Find out more...
More videos:
Red Raion: Meet the Team - Introduction – Red Raion
Experience the experience – Polin Waterparks & Pool Systems
Red Raion Showreel 2018 – Red Raion
+ More videos  

CATALOGUE GALLERY
 

+ More catalogues  
DIRECTORY
+ More directory  
DIARY

29-31 Oct 2019

Mediterranean Resort & Hotel Real Estate Forum (MR&H)

Hilton Athens, Athens, Greece
18-22 Nov 2019

IAAPA Expo

Orange County Convention Center, Orlando, United States
+ More diary  
 


ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2019

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