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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.
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Catherine Toolan to replace departing Paul Carty at Guinness Storehouse
Ireland's top attraction, the Guinness Storehouse, is to come under new leadership from April, with Catherine Toolan replacing Paul Carty as managing director.
Texas Kalahari Water Park scheduled for November 2020 opening
A new US$550m (€509m, £426m) African-themed water park and resort from Kalahari Resorts & Conventions is due to open in Round Rock, Texas, in November 2020.
Northern Ireland's The Gobbins in line for £11m development
Plans for an £11m (US$14.2m, €13m) extension to The Gobbins, a famous cliff-face path at Islandmagee, County Antrim, Northern Ireland, have made significant progress, according to the local borough council.
London's V&A Museum of Childhood to close for two-year redevelopment
Creating an "unforgettable first museum experience for children" is the aim of the V&A Museum of Childhood in London, which has announced it will close in May 2020 to undergo a two-year, £13m (US$16.9m, €15.7m) transformation.
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COMPANY PROFILES
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WhiteWater was born in 1980 to create places where families unite and make joyful lasting memories [more...]
iPlayCo

iPlayCo was established in 1999. iPlayCo Corporation Ltd is the owner and key stakeholder. [more...]
IDEATTACK

IDEATTACK is a full-service planning and design company with headquarters in Los Angeles. [more...]
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A former national ski team racer, ProSlide® CEO Rick Hunter’s goal has been to integrate the smoot [more...]
+ More profiles  
FEATURED SUPPLIER

Healthy appetite for investment at EAG International 2020
A buoyant EAG International has welcomed in the new decade as a well-rounded event with high levels of optimism and positivity on the show floor. [more...]
VIDEO GALLERY

Animalive - Introducing AnimaChat!
Introducing AnimaChat, one operator can live-stream into multiple venues. Find out more...
More videos:
Trailer Aladdin - The Bachelor Party VR – Red Raion
Trailer Peter Pan - Saving Tinkerbell VR – Red Raion
Red Raion Showreel 2019 – Red Raion
+ More videos  

CATALOGUE GALLERY
+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

23-25 Mar 2020

MuseumNext Europe

Edinburgh Festival Hub, Edinburgh,
23-25 Mar 2020

Dubai Entertainment Amusement and Leisure Exhibition (DEAL)

Dubai World Trade Centre, Dubai, United Arab Emirates
+ More diary  
 


ADVERTISE . CONTACT US

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

©Cybertrek 2020

ABOUT LEISURE MEDIA
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