Indoor waterpark resorts are a relatively new phenomenon in the United States and are spreading to new locations across the country. Many of the indoor waterpark resorts are achieving occupancy levels and average daily rates well in excess of hotels without indoor waterparks. The appraisal of an indoor waterpark resort has many similarities to the appraisal for a typical hotel property with some important differences in analysis and scope of the project. As an indoor waterpark resort is an entertainment based hospitality property, it has the potential to achieve substantially higher revenues than a typical hotel property although it also has additional risk inherent in its operation. This article will discuss methodology for preparing an appraisal on an indoor waterpark resort as well as financing for resorts in this difficult lending environment.
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New technologies mean almost anything now can be built indoors. Here’s a look at the options available to waterpark operators.
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You waterpark is open and ready to go. Marketing your slide is an important part of increasing your revenue, it is time to spread the word and attract customers!
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Here are the steps, sequence and cost summary to better understand the process of working with us to build a waterpark.
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April 21, 2014 4:19pm There was no question among the leaders at Lakewood Camping Resort that when it came time to add some amenities to the campground, a water park would be first on the list. Families love water parks — different parts appeal to different ages — and it would be well worth the investment, said Shannon Gomer, chairwoman of the board of directors and a member of the family that built Lakewood. The $2 million water park, which opened in the fall a few months later than expected, is the cornerstone of an overhaul of the 55-year-old campground aiming…
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Have you spent much time lately considering ice cream parlors, specialty retail stores, waterslides, or aromatherapy treatments? If so, you could be among a growing number of timeshare resort owners and operators nationwide looking to increase top-line revenue in new and inventive ways. An added amenity such as an indoor waterpark, spa, retail store, or eatery can increase a resort’s overall perceived value to potential owners – resulting in sales at increased point values. Resorts can charge higher maintenance fees as attractions are added, thus passing the cost along to owners. Additionally, resorts with added features can achieve higher annual…
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A Developer’s Guide to New Ideas, Feasibility & Funding November 2010 – During the fourth quarter of 2010, it looked like the hotel and leisure industries were making an economic recovery in the USA and around the world. Hotel occupancies were up over last year, but hotel room rates continued to drop — indicating the road to recovery would be a long hard road. Museum and small attraction attendance was up but people were spending less money. Some major theme parks and regional outdoor waterparks reported gains in attendance, while others saw a decline. The road to a rapid economic…
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Floating hotel waterpark resorts race to compete for families July 2010 — It started back in 2005 when Royal Caribbean Cruise Line added rock climbing walls, mini-golf and ice-skating rinks to their cruise ships. In 2006, they launched the industry’s largest passenger ship, Freedom of the Seas, with an onboard surf simulator called a FlowRider and an H2O Zone aqua park. And the race began. In 2009, Carnival Cruise Line added an aqua park called WaterWorks to its Ecstasy Cruise Ship at Galveston TX and its Dream Cruise Ship at Port Canaveral FL. Last December, RCCI launched its newest big…
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Games form a key revenue component. Here’s how to reap the rewards. Water and games mix well together when you know the right formula. While guests like to hang out in the waterpark, they also want to enjoy some dry entertainment. Games and family attractions not only accomplish this need, but also provide an opportunity to generate huge revenues for the indoor waterpark resort. Families have a chance to bond while playing, and saving redemption tickets or points for a desired prize is a key reason guests return to the resort. Still not convinced you should add games to your…
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Condo-hotels. Extended-stay properties. Boutique hotels. Here’s another tip for a hot lodging segment: As 2005 begins, it is clear that waterpark resorts will fill not only pools and water slides, but rooms as well. Here is our forecast on the future of hotel waterpark resorts. 1. Hotel waterpark resorts are not a fad. The growth trends, consumer acceptance and impact on resort occupancy, room rates and revenues are too strong to ignore. 2. The market for hotels with indoor waterparks will continue to grow faster than the hotel industry. Hotels with indoor waterparks are growing from 23 percent to 29…
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