Great Wolf Resorts

Last updated

Great Wolf Resorts, Inc.
Company type Joint venture
Nasdaq: WOLF
Industry Hospitality
PredecessorGreat Bear Lodge (Sandusky, OH), Black Wolf Lodge (Wisconsin Dells, WI)
FoundedMay 1997;27 years ago (1997-05), in Wisconsin Dells, Wisconsin, United States
FounderJack and Andrew Waterman
Headquarters
Chicago, Illinois
,
United States
Number of locations
20 (with four under construction and seven under consideration)
Area served
United States, Canada, and United Kingdom
Key people
Murray Hennessy (CEO)
ServicesFamily Waterpark Resorts
Owner
Number of employees
6,000 [1]
Website www.greatwolf.com
Great Wolf Lodge in Dallas, Texas Great Wolf Lodge Dallas (49394286538).jpg
Great Wolf Lodge in Dallas, Texas

Great Wolf Resorts, Inc. (formerly known as Great Wolf Lodge) is a chain of resort hotels and indoor water parks. The company owns and operates its family resorts under the Great Wolf Lodge brand. [2] In addition to a water park, each resort features restaurants, arcades, spas, and children's activities. [3] Great Wolf Resorts is headquartered in Chicago, Illinois.

Contents

History

Great Wolf Lodge began as a small indoor water park resort called Black Wolf Lodge which was founded in 1997 by brothers Jack and Andrew "Turk" Waterman, the original owners of Noah's Ark Water Park in Wisconsin Dells, Wisconsin. [4] Black Wolf Lodge was purchased by The Great Lakes Companies Inc. in 1999. In 2000, president and founder, Craig A. Stark, and the team changed the name to Great Wolf Lodge and the company headquarters were established in Madison, Wisconsin. [3] [5] In 2001, the company built a second location in Sandusky, Ohio, and named it Great Bear Lodge. When a third location opened in 2003, the decision was made to place all future parks under the Great Wolf Lodge banner. The name of the Ohio location was changed to Great Wolf Lodge in 2004. The chain has since added sixteen additional locations and has one under construction. [6] [7]

On May 1, 2012, Great Wolf Resorts announced it was adding a new amenity or attraction to each of the resorts in time for the summer season. In addition, the company spent more than $4 million renovating the company's first two locations – Wisconsin Dells and Sandusky. [8]

In April 2017, Great Wolf Resorts relocated its corporate headquarters to Chicago, Illinois. [9]

In June 2023, Great Wolf Resorts opened its twentieth and largest resort in Perryville, Maryland.

Apollo acquisition

On March 13, 2012, Apollo Global Management announced an agreement to acquire the company for $703 million. [10] Following the announcement, an investor group filed a complaint in Delaware Chancery Court stating that the deal, in which Apollo would pay $5 a share, undervalued the company. On April 12, 2012, KSL Capital Partners made an unsolicited offer of $6.25 a share, and Apollo followed suit raising its bid to $6.75 a share. [11] KSL then raised its cash offer to $7 a share on April 8, 2012, beginning a rare public bidding war. [12] After Apollo upped its offer again to $7.85 a share on April 20, 2012, KSL Capital Partners later announced it would not be making additional offers. [13] The company's shares traded as low as $2.18 in October 2011, but climbed above $5 following the announcement in March 2012 and reached a 52-week high of $7.50 during trading in April 2012. [14] [15]

Centerbridge acquisition

On March 24, 2015, Centerbridge Partners reached an agreement with Apollo to acquire the Great Wolf chain for $1.35 billion. [16] The acquisition was finalized on May 12, 2015. [17]

Blackstone and Centerbridge joint venture

In September 2019, Blackstone Group made a deal to purchase 65% controlling interest in Great Wolf Resorts from Centerbridge Partners. The two firms agreed to form a $2.9 billion joint venture to own the company. [18]

Properties

Great Wolf Lodge location in Mason, Ohio, next to Kings Island Great Wolf Lodge Mason, Ohio.jpg
Great Wolf Lodge location in Mason, Ohio, next to Kings Island
Interior of the waterpark at the Great Wolf Lodge in Grand Mound, Washington Great Wolf Lodge interior - Grand Mound, Washington.jpg
Interior of the waterpark at the Great Wolf Lodge in Grand Mound, Washington

Great Wolf Lodge locations: [19]

LocationYear Opened
Wisconsin Dells, Wisconsin 1997
Sandusky, Ohio 2001
Traverse City, Michigan 2003
Kansas City, Kansas 2003
Williamsburg, Virginia 2005
Pocono Township, Pennsylvania 2005
Niagara Falls, Ontario 2006
Mason, Ohio 2006
Grapevine, Texas 2007
Grand Mound, Washington 2008
Concord, North Carolina 2009
Fitchburg, Massachusetts 2014
Garden Grove, California 2016
Colorado Springs, Colorado 2016
Bloomington, Minnesota 2017
LaGrange, Georgia 2018
Gurnee, Illinois 2018
Salt River, Arizona 2019
Manteca, California 2021
Perryville, Maryland 2023
Webster, Texas 2024
Naples, Florida 2024

Previous locations:

Locations under construction:

Locations under consideration:

The corporate headquarters, the "Great Wolf Den," [37] is in 350 North Orleans, [38] in River North, [37] in the Near North Side, Chicago. [39] The facility, the "Great Wolf Den," began operations in 2017. [37] Previously, the headquarters were in Madison, Wisconsin. [40] According to the company, the headquarters move occurred so the company could be closer to various sites of business operation. [41] Rahm Emanuel, Mayor of Chicago, attended the ribbon cutting of the facility. [38]

Notes

1. ^ The project was announced in December 2015 and there has been no new information on the project since 2018.

Other brands

Great Wolf Lodge also owns MagiQuest. [42]

In other media

Great Wolf's previous CEO Kim Schaefer was featured in the U.S. version of TV's Undercover Boss, which included visits to several lodges where she worked alongside a lifeguard supervisor, front desk clerk, and restaurant waitstaff as well as participated in the children's program. [43] [44]

Great Wolf Entertainment and 6 Point Harness produced an animated film, called The Great Wolf Pack: A Call to Adventure, which premiered at Great Wolf Resorts on Labor Day, September 5, 2022. The film, directed by former Disney animator Chris Bailey ( Runaway Brain ), follows the adventure of five newly-redesigned versions of mascot characters Wiley Wolf, Violet Wolf, Oliver Raccoon, Brinley Bear and Sammy Squirrel. [45] [46] [47] [48] [49]

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References

  1. ↑ "Great Wolf Resorts's Competitors, Revenue, Number of Employees, Funding, Acquisitions & News - Owler Company Profile". Archived from the original on June 8, 2020. Retrieved June 8, 2020.
  2. ↑ "Corporate Profile | Great Wolf Corporate". October 16, 2011. Archived from the original on October 16, 2011. Retrieved November 25, 2018.
  3. 1 2 "History". Great Wolf Resorts. 2009. Archived from the original on December 14, 2009. Retrieved November 20, 2011.
  4. ↑ "For generations, Andrew Watermans run Dells hotels". WiscNews.com. December 14, 2010. Archived from the original on September 5, 2017. Retrieved November 20, 2011.
  5. ↑ Daykin, Tom (February 14, 2006). "Marc Vaccaro, Co-founder of Great Wolf Resorts Inc., Resigns". Milwaukee Journal Sentinel. Archived from the original on September 5, 2017. Retrieved September 5, 2017.
  6. ↑ "Great Wolf Resorts Announces License and Management Agreement for New Great Wolf Lodge in Pittsburgh, PA". Great Wolf Resorts. January 13, 2010. Retrieved November 20, 2011.[ permanent dead link ]
  7. ↑ "Great Wolf Resorts Announces License and Management Agreement for New Great Wolf Lodge in Garden Grove, CA". Great Wolf Resorts. June 28, 2010. Retrieved November 20, 2011.[ permanent dead link ]
  8. ↑ "Great Wolf Lodge Invests in Family Fun in 2012" (PDF). Great Wolf Resorts, Inc. May 1, 2012. Archived from the original (PDF) on May 17, 2014. Retrieved June 11, 2012.
  9. ↑ "Great Wolf Resorts Opens New Chicago Headquarters". NBC Chicago. April 26, 2017. Archived from the original on November 26, 2018. Retrieved November 25, 2018.
  10. ↑ Ahmed, Azam (March 13, 2012). "Apollo to Acquire Water Park Operator for $703 Million". New York Times. Archived from the original on March 18, 2012. Retrieved March 28, 2012.
  11. ↑ State Journal Staff (April 6, 2012). "Deal to buy Great Wolf approved by board after Apollo increases offer". Wisconsin State Journal. Archived from the original on August 14, 2023. Retrieved April 11, 2012.
  12. ↑ De La Merced, Michael (April 8, 2012). "Private Equity Firms Duel Over Water Park Operator". New York Times' Dealbook. Archived from the original on April 10, 2012. Retrieved April 11, 2012.
  13. ↑ Harden, Mark (April 23, 2012). "KSL Capital cries uncle in Great Wolf bidding war". Denver Business Journal. Archived from the original on May 17, 2014. Retrieved April 24, 2012.
  14. ↑ Lachapelle, Tara (March 23, 2012). "Leon Black's Bid Gets No Respect as Great Wolf Surges: Real M&A". Bloomberg News. Archived from the original on March 29, 2012. Retrieved March 28, 2012.
  15. ↑ TheStreet Wire (April 11, 2012). "Great Wolf Stock Hits New 52-Week High (WOLF)". The Street. Archived from the original on April 13, 2012. Retrieved April 11, 2012.
  16. ↑ Stone, Mike; Oran, Olivia; Roumeliotis, Greg (March 24, 2015). "Exclusive: Centerbridge in $1.35 billion deal for Great Wolf Resorts: sources". Reuters. Archived from the original on June 19, 2015. Retrieved June 9, 2015.
  17. ↑ Schuyler, David (May 12, 2015). "New owner pledges to grow Great Wolf Lodge chain". Milwaukee Business Journal. Archived from the original on May 19, 2015. Retrieved June 9, 2015.
  18. ↑ Clark, Patrick (October 2, 2019). "Blackstone to Buy 65% of Park Operator Great Wolf Resorts". Bloomberg. Archived from the original on October 12, 2019. Retrieved October 12, 2019.
  19. ↑ "Great Wolf Lodge Locations". Great Wolf Resorts. Archived from the original on June 10, 2021. Retrieved July 30, 2021.
  20. ↑ "Great Wolf Resorts Announces Sale of Blue Harbor Resort in Sheboygan, WI". Reuters . March 24, 2011. Archived from the original on March 6, 2016. Retrieved June 16, 2012.
  21. ↑ "Foxwoods announces high-stakes casino expansion in Connecticut". February 15, 2022. Archived from the original on February 16, 2022. Retrieved February 16, 2022.
  22. ↑ "Great Wolf Resorts planning first UK indoor water park and adventure park". August 2019. Archived from the original on August 3, 2019. Retrieved August 4, 2019.
  23. ↑ "Great Wolf Lodge: Giant water park resort WILL be built in Oxfordshire". Oxford Mail. Archived from the original on November 28, 2022. Retrieved November 28, 2022.
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  32. ↑ Huriash, Lisa J. (January 9, 2019). "Great Wolf Lodge resort with indoor water park may come to South Florida". South Florida Sun Sentinel . Archived from the original on July 8, 2019. Retrieved November 25, 2019.
  33. ↑ "Great Wolf Lodge Indoor Waterpark Planned for Cornwall". Choose Cornwall. Archived from the original on January 15, 2023. Retrieved January 10, 2023.
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  35. ↑ "Huge indoor water park and resort could be coming to North Hampshire". Newbury Today. February 28, 2023. Archived from the original on March 1, 2023. Retrieved March 1, 2023.
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  37. 1 2 3 "Great Wolf Resorts Opens New Chicago Headquarters". NBC Chicago. April 26, 2017. Retrieved December 26, 2023.
  38. 1 2 Fran Spielman (April 26, 2017). "Emanuel leads cheer for latest corporate HQ to move to Chicago". Chicago Sun-Times. Archived from the original on April 26, 2017. Retrieved April 27, 2017. The new corporate headquarters, [...] is at 350 N. Orleans, in the same building as the Chicago Sun-Times. (The quote shows that the NBC Chicago "Great Wolf Resorts Opens New Chicago Headquarters" is talking about the same building.)
  39. ↑ "Home". Great Wolf Resorts. Retrieved December 25, 2023. 350 N Orleans St, Chicago, IL 60654 - Use the address and match it to Chicago community areas.
  40. ↑ "Home". Great Wolf Resorts. Archived from the original on December 15, 2017. Retrieved December 26, 2023. 525 Junction Road, Madison, WI 53717
  41. ↑ Shropshire, Corilyn (April 26, 2017). "Water park company that bought Key Lime Cove moves HQ to Chicago". Chicago Tribune. Archived from the original on April 26, 2017. Retrieved April 27, 2017. Moving to Chicago allowed[...]
  42. ↑ "Proprietary Brands - Great Wolf Corporate". Great Wolf Corporate. Archived from the original on October 18, 2018. Retrieved November 25, 2018. MagiQuest: Some of the most popular attractions at any Great Wolf Lodge are the exciting, interactive adventure games that transform the hotel into an enchanted realm of wonder. Participants purchase magic wands, wand toppers, costumes and other themed merchandise in the MagiQuest Marketplace and engage in journeys, quests and ever more engaging levels of play.
  43. ↑ "'Undercover Boss' returns to area". The Cincinnati Enquirer . October 3, 2010. Archived from the original on October 17, 2010. Retrieved October 3, 2010.
  44. ↑ Huff, Richard (October 4, 2010). "Great Wolf Resorts CEO Kim Schaefer works all over the company on 'Undercover Boss'". Daily News. New York. Archived from the original on October 4, 2010. Retrieved October 4, 2010.
  45. ↑ Duncan, Keltie (August 11, 2022). "Six Point Harness Feature Premieres at Great Wolf Resorts". Cartoon Brew . Archived from the original on September 20, 2022. Retrieved September 16, 2022.
  46. ↑ Milligan, Mercedes (October 14, 2021). "Great Wolf Ent. Unveils Characters' New Look for 'The Great Wolf Pack'". Animation Magazine . Archived from the original on September 30, 2022. Retrieved September 16, 2022.
  47. ↑ "THE GREAT WOLF PACK: A CALL TO ADVENTURE - Official Trailer (2022)". Archived from the original on July 25, 2023. Retrieved July 25, 2023– via www.youtube.com.
  48. ↑ "The Great Wolf Pack (Short 2022) ⭐ 8.3 | Animation, Short, Action". Archived from the original on July 25, 2023. Retrieved July 25, 2023– via m.imdb.com.
  49. ↑ "INTERVIEW: Chris Bailey On Howl You'll Enjoy "The Great Wolf Pack" – Animation Scoop". www.animationscoop.com. Archived from the original on March 23, 2023. Retrieved March 23, 2023.
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