Great Wolf Resorts is the world's largest chain of indoor water parks. The company owns and operates its family resorts under the Great Wolf Lodge brand. The company is headquartered in Madison, Wisconsin. In addition to a water park, each resort features specialty restaurants, arcades, spas, fitness rooms and children's activity areas.
History
Black Wolf Lodge was founded by brothers Jack and Andrew "Turk" Waterman, the original owners of Noah's Ark water park. Black Wolf Lodge was purchased by The Great Lakes Company. Founder and chairman Bruce Neviaser changed the name to Great Wolf Lodge and the company headquarters were established in Madison, WI. The chain has since added twelve additional locations and has one in development.
On May 1, 2012, Great Wolf announced they were adding a new amenity or attraction to each of their resorts in time for the summer season. In addition, they spent over $4 million renovating the company's first two locations - Wisconsin Dells and Sandusky.
Apollo acquisition
On March 13, 2012, Apollo Global Management announced an agreement to acquire the company for $703 million. 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. KSL then raised its cash offer to $7 a share on April 8, 2012, beginning a rare public bidding war. 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. The company's shares traded as low as $2.18 in October 2011, but they climbed above $5 following the announcement in March 2012 and reached a 52-week high of $7.50 during trading in April 2012.
Centerbridge acquisition
On March 24, 2015, Centerbridge Partners reached an agreement with Apollo to acquire the Great Wolf chain for $1.35 billion. The acquisition was finalized on May 12, 2015.
Houston Resorts And Lodges Video
Properties
Great Wolf Lodge locations:
Previous locations:
- Sheboygan, WI (2004 - 2011; now known as Blue Harbor Resort)
Locations under construction:
- Garden Grove, CA
- Colorado Springs, CO
Other brands
Great Wolf Lodge also manages the following brands:
- MagiQuest - Action adventure scavenger hunt for fun or competition which electronically captures achievements with a tracked score
- Cub Club - Fun and educational craft and activity center with nature-themed programming
- Scooops - Spa experience created just for kids with ice cream themed treatments
In pop culture
Great Wolf's 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.
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