david j. sangree
Waterparks Riding a Recovery Wave in 2022
David J. Sangree | April 14, 2022
After two years of pandemic concerns that saw many waterparks remain closed throughout 2020 and suffer continued disruption in 2021, 2022 is anticipated to be a pivot back to normal for the industry. As vaccines are now widely available and COVID becomes endemic, waterparks are poised to capitalize on pent-up demand and return to pre-COVID performance levels. While 2021 saw robust growth in pricing at many properties, 2022 will see the industry open a number of expansions and new developments. Several large-scale projects will alter the waterpark landscape at both indoor and outdoor waterparks and continue to encourage properties to innovate ...
Waterparks: Despite 2020 Challenges, Growth Forecasted in 2021
David J. Sangree | April 26, 2021
By David J. Sangree 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, and travel restrictions, many outdoor waterparks delayed their season openings while others decided, or were mandated, not to open at all in 2020. Many resorts with both indoor and outdoor waterparks and standalone indoor waterparks were forced to close for several months. Current projections for the vaccine rollout indicate a return to normalcy no earlier th...
COVID-19 Impact on U.S. Waterparks and Waterpark Resorts in 2020
David J. Sangree | August 26, 2020
By David Sangree, Nuresh Maredia 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 open at all in 2020. Many resorts with waterparks and standalone indoor waterparks were forced to close for several months, and some have yet to reopen. With the largest database of waterparks and waterpark resorts ac...
U.S and Canada Waterpark and Resort Trends in 2020
David J. Sangree | April 8, 2020
By David J. Sangree 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 to open. The indoor segment will total square feet of new waterpark space in 17 properties. However, the recent outbreak of the COVID-19 pandemic has thrown the industry into uncertainty in 2020. This article reflects the projected growth for the waterpark industry as it ...
Waterparks: Growth Trends in 2019
David J. Sangree | April 15, 2019
Diving Into Waterpark Growth Trends in 2019: 2019 will bring growth to the U.S. & Canadian markets as waterparks continue to evolve their attraction mix. By David J. Sangree, MAI, CPA, ISHC 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 resorts will add or expand outdoor waterparks. The indoor segment will total 629,200 square feet of new waterpark space in 12 properties. Three of this year's most anticipated and exp...
Hotel & Leisure Advisors Top Five Takeaways From NYU Hotel Investment Conference
David J. Sangree, MAI, CPA, ISHC | June 18, 2018
by David J. Sangree The sentiment at the 2018 NYU Hotel Investment Conference was very positive for the industry with expectations of continued growth in the coming years. Among the wealth of relevant information from the conference, we identified several key takeaways that highlight the state of the industry in 2018 and beyond: Overall, the feel of NYU was positive, with attendees, panelists, and speakers all expecting and planning for continued growth for the industry. However, the industry is rapidly changing with technology and the sophistication of hotel and resorts guests. This means brands, developers, and investors need to conti...
2017 Waterpark Forecast: Continued Growth
David J. Sangree, MAI, CPA, ISHC | April 5, 2017
By David J. Sangree, MAI, CPA, ISHC Introduction The waterpark industry continues to expand in North America, with more than $550 million worth of new investment in indoor and outdoor waterparks and their related resorts in 2016. Waterpark related development is expected to grow in 2017, with over 40 expansions and new facilities opening. In 2017, we project 16 municipal and nine private outdoor waterparks will open, outpacing 2016's nine municipal and five private outdoor additions. We foresee continued, albeit slower, growth in the indoor segment, where an additional 243,000 square feet of waterpark space are planned. Two of this year...
2016’s Waterpark Forecast: Bigger is Better
David J. Sangree, MAI, CPA, ISHC | March 9, 2016
by David J. Sangree, MAI, CPA, ISHC The waterpark industry continues to expand in North America, with more than $500 million of new investment in indoor and outdoor waterparks and their related resorts in 2015. Total waterpark related development spending is expected to grow in 2016 with a number of new facilities opening and many expansions of the existing waterparks. Two major new indoor waterpark resorts opened in the Poconos in Pennsylvania in 2015 and three large indoor waterpark resorts are projected to open in California, Colorado and Quebec in 2016, including two Great Wolf Lodge properties. In 2015, 17 municipal waterparks and ...
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