Among the many challenges facing the waterpark industry in 2020, one of the biggest questions on the minds of many developers is: after so many years of growth in the industry, are new waterpark projects still being financed? Financing a new construction waterpark has always been extremely difficult, but 2020 has the added complication of
Coming into 2020, the United States hotel industry was ready to build on the record-setting performances of the past few years. In 2019, revenue per available room and average daily rate reached the highest levels ever tracked by STR. While some experts warned of oversaturation with the number of new properties built in recent years, nobody
At the beginning of 2020, the continuing trend of two decades of growth was expected in the waterpark industry. Major projects will open throughout the United States in both the indoor and outdoor waterpark categories totaling over $1 billion in investment in 2020. Fourteen new standalone waterparks and one resort with outdoor waterpark are anticipated
Looking back at the past always helps to give an indication of what the future may hold. The hotel industry has shown tremendous growth in all metrics since 2009. Forecasts show occupancy levels starting to decline while demand and supply level and ADR will grow. The consolidation of brand companies and new brand offerings that
The “Retailtainment” Trend: No Signs of Slowing Down as published by Park World Magazine, November 2019 By Nuresh Maredia It’s no secret that the face of retail is rapidly changing. America’s malls are facing the fallout from not just the rise of e-commerce but also an overabundance of retail space and changes in consumer behavior.
In the span of only a few years, the immersive entertainment concept has taken much of the attractions world by storm. A relatively new phenomenon, it has quickly moved into the mainstream, covering everything from immersive art installations and virtual reality to escape rooms and fully-themed immersive parks. What connects all of these experiences is
Michigan’s economy is growing again, and Grand Rapids is leading the way. Since 2009, Grand Rapids has had the fastest growing regional economy in the state, increasing 29.2% to $58 billion, according to Michigan-based Bridge Magazine. The Metro Grand Rapids area has also been recognized as one of the fastest growing economies in the country.
This article was first published in the April Edition of World Waterpark Magazine For the ever-growing waterpark industry, 2019 will be another year for robust growth as over $1 billion in investment is slated for indoor and outdoor waterparks and their related resorts. We project 21 municipal and private outdoor waterparks will open and three
As published by Park World Magazine: The American shopping mall has seen rapid growth over several decades since the 1950s. These retail havens were anchored by large department stores that attracted shoppers and made the American mall popular with the masses, but the rise of e-commerce and the explosion of online shopping have changed the
As published by Hotel News Now: Benefiting from a strong economy, the United States hotel industry is currently experiencing a boom, which has developers across the country looking for their next opportunity. Many are finding that opportunity in major Ohio markets, as evidenced by significant growth in recent years. The Cincinnati, Cleveland and Columbus MSAs
A hotel feasibility study is generally required by the mortgage lender or investor before a developer or organization is able to move forward with constructing a new hotel. Typically completed by an independent third-party consultant who specializes in analyzing hotel projects, a feasibility study determines whether a proposed hotel development is economically feasible and if
Introduction The waterpark industry continues to expand in North America, with more than $1 billion in new investment in indoor and outdoor waterparks and their related resorts in 2018. Nearly 60 expansions and new facilities will open in 2018. We project 14 municipal and eight private outdoor waterparks will open, outpacing 2017’s nine municipal and
This article was originally published by Hotel News Now. With the start of the new year, many of us take stock of where we are and what 2018 holds in store. The status of the U.S. hotel industry partly depends on the lens you’re looking through—whether you’re a franchise company, developer, owner, operator or investor.
Over the past several years our consultancy has been asked to explore social entertainment options that enhance a patron’s experience whether at a resort, restaurant, casino, or mixed-use development. The trends of what’s hot and innovative always ignites the discussion. The evolution of social entertainment involves an innovative mix of activities, culinary, and entertainment value
Municipalities across the United States are seeking approvals, funding or public-private partnerships to develop or redevelop their convention centers with an attached, big-box hotel. City councils in Kansas City and Oklahoma City are in process of getting approvals and funding secured while Portland, Oregon, and Chicago have such projects underway. One of the latest convention