Despite 2020 challenges, growth within the U.S. waterpark market is projected for 2021: See the article as published by WWA. The COVID-19 crisis was the definitive event of 2020. The lodging and attractions industries were among the most negatively impacted sectors and experienced record declines in occupancy, attendance, and revenue. With mandated closures, limited capacities,

The once-in-a-century pandemic has caused hoteliers to endure a firestorm that decimated the hotel and leisure industries. The growing COVID-19 cases across the U.S., as well as government restrictions on travel that further stress demand, continue to leave the hotel industry significantly behind pre-pandemic levels in terms of revenues, profitability and valuations. Gateway cities such

Back when we were all naïve enough to think that 2020’s biggest headache would be a seemingly endless year of political campaign ads, hotels and resorts in the U.S. were poised to enjoy the fruits of a robust economy. But the onset of the COVID-19 pandemic threw the industry into chaos, forcing hotels and resorts

The current COVID-19 crisis continues to have a significant negative effect on the waterpark industry. Waterparks play a major role in providing entertainment, supporting job creation, fostering small business opportunities, and contributing to robust economic growth. Due to COVID-19, many outdoor waterparks delayed their season openings while others have decided, or were mandated, not to

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

As casino resorts prepare to reopen in the era of the coronavirus pandemic, operators are looking at how to best serve the needs of both their customers and team members in this new reality. The world has changed and Indian nations across the country are evaluating best practices, reopening plans, and business strategies to stop

This article explains the major components of a waterpark feasibility study that should be analyzed as part of determining the potential success of a waterpark project.

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

Waterpark Appraisal Methodology A waterpark resort appraisal is similar to other appraisals in that it is a professional appraiser’s opinion of value. It is typically required by a lender before financing can be obtained for a new project. The scope of the project, including plans and development budgets should be well defined prior to the

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 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. As discussed in

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.