Waterpark Resort Supply and Demand 2011 Update | by David J. Sangree, MAI, CPA, ISHC
Hotel & Leisure Advisors, LLC's (H&LA's) summer 2011 survey of indoor waterpark resorts and outdoor waterpark resorts in the U.S. and Canada indicates that the number of waterpark resorts has grown in the past year, although at a much slower pace than during the mid 2000s due to the impact of the economic recession. New waterpark resort projects are expected to increase in 2012 and beyond as financing becomes more available for new developments...
Our research indicates there are 141 open indoor waterpark resort properties in the United States and Canada as of July 2011. There have been or will be one indoor waterpark expansion to an existing hotel, five expansions to existing indoor waterpark resorts, and three new construction indoor waterparks projected for 2011. Our survey found that, in 2011, the growth in indoor waterparks in terms of square footage will be one of the smallest in over ten years. There are also six privately operated, standalone indoor waterparks without attached hotels in the United States. As for resorts with outdoor waterparks, Hotel and Leisure Advisors has identified a total of 33 resort hotels with outdoor waterparks located in 14 different states and provinces throughout the United States and Canada as of July 2011.
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H&LA News
David J. Sangree, MAI, CPA, ISHC spoke at the Midwest Lodging Investors Summit in Chicago July 17-19th. He presented on the panel titled "Cleaning Up Distress." Click here to read an article that discusses the MLIS panel on distress that Mr. Sangree participated in and features quotes from several of the participants.
Mr. Sangree will also be a speaker at the World Waterpark Association's 31st Annual Symposium and Tradeshow to take place October 2-5, 2010 in New Orleans, LA.
Mr. Sangree was quoted in a Hotel News Now article about the potential for movies filmed in Cleveland to be a huge boon to the local hotel industry. The Ohio Department of Development suggests they could produce close to US$5.3 million in economic activity and more than 41,000 room nights, making movies one of the biggest demand generators in Cleveland, on par with the Cleveland Clinic and Progressive Insurance. To read entire article, click here.
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