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Who thinks the great wolf lodge will take a noticeable amount of business away

from other hotels in the area during the 2007 season? smile.gif

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It'll have little or no affect on the surrounding hotels.

Great Wolf is more of a destination/location hotel. There are no hotels around it that would be that kind of draw.

Think of it this way, someone that is normally gonna stay at Days Inn is not going to all of a sudden decide to do an overnight at Great Wolf lodge.

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Right. But there will be some families that would have stayed at other hotels in the area that will decide to "upgrade" to the new resort. While you are correct in saying it will not likely have a big impact on other area hotels, I think it could affect some of the more upscale hotels. If a family has a choice between an upscale hotel and the resort which includes a waterpark for the kids when not at the park, it makes sense that the family would choose the resort. That being said, based on the rates at the Great Wolf Lodge, as you stated, it will likely have little or no affect on the occupancy of the majority of the hotels in the area.

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BoddaH1994, you bring up some very good points. Especially with gas prices as high as they are, PKI might be pulling less from the surrounding demographics as they have in years past. Additionally, locals that normally vacation to other places like Florida, or the ever popular Myrtle Beach maybe staying around Cincinnati. Could these people be the ones who will fill the hotel up? It will certainly be interesting to see how the new resort is received and how successful it is. For the amount of money it is costing to build it, and for PKI`s sake, I hope it is a success.

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I think the number of conventions/conferences that GWL hosts will also have a lot to do with the affect on local motels/hotels. If they host some frequent and sizable meetings, it will actually be a good thing for the other local properties (especially the lower cost lodging options...)

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Well that's because it's much more built up in general around Cedar Point. Remember that only about 34 years ago there was nothing where where Kings Island is.

Besides, at a Lodge Themed Hotel it seems a little better to not have civilization right next to it.

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I think that weekends will be busy year round, but during the summer, most will be at CD's. Other hotels/motels will not suffer, as there are more people that cannot afford $200+ per night. We are not coming back to stay for more that 1 day until the CG gets rebuilt, PKD and Carowinds here we come...(Check out the new CG at Carowinds)

RJK

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I think ths place will do pretty good. Remember when the Holidome was put in, that place got some good business and all they had was putt-putt, pool, and a play area. This place is going to be real classy, and it's gonna have all the bells and whistles. I think it will do very well in th long run.

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The high gas prices will not benefit the Great Wolf Lodge nor any other business. It seems that all of society suffers with these outrageous prices - expcept for the oil executives of course. They are swimming in record profits at the expense of the rest of the counrty.

The high gas prices may likely keep away travelers from far away and even some conventions. However, the high gas prices may influence people in the nearby market to stay at The Great Wolf Lodge because it's cheaper than driving far away to a place like Sandusky.

My wife won a $100 gift certificate to the Hyatt and we were planning a 3-day vacation in Indianapolis. We were going to stay one night in the Hyatt and one night at a cheaper hotel or motel. With this gas prices so high, we have decided to take a 2-day trip to Lexington instead. The gas prices are hurting our budget just like more than 70% of Americans.

So, people like us will likely take mini-vacations at the Great Wolf Lodge.

Have a great day!

Italian Chef

chef.gif

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The high gas prices will not benefit the Great Wolf Lodge nor any other business. It seems that all of society suffers with these outrageous prices - expcept for the oil executives of course. They are swimming in record profits at the expense of the rest of the counrty.

The high gas prices may likely keep away travelers from far away and even some conventions. However, the high gas prices may influence people in the nearby market to stay at The Great Wolf Lodge because it's cheaper than driving far away to a place like Sandusky.

My wife won a $100 gift certificate to the Hyatt and we were planning a 3-day vacation in Indianapolis. We were going to stay one night in the Hyatt and one night at a cheaper hotel or motel. With this gas prices so high, we have decided to take a 2-day trip to Lexington instead. The gas prices are hurting our budget just like more than 70% of Americans.

So, people like us will likely take mini-vacations at the Great Wolf Lodge.

Have a great day!

Italian Chef

chef.gif

Yes and no. Gas prices do hurt the overall economy but PKI theoretically could profit from it because people within a few hundred mile radius might decide to go to PKI instead of other desinations like Florida. Of course, it does hurt that people from farther away may have that same mentality.

A 2 day vacation to Lexington? Sounds lame.. even for you, Charles. rolleyes.gif

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A 2 day vacation to Lexington?  Sounds lame.. even for you, Charles.   rolleyes.gif

Actually...I was wondering if Lexington was really that much of a shorter drive than to Indy smile.gif

I live in Ft. Thomas. It's a 1.5 hour drive to Lexington and a 3 hour drive to Indianapolis. Hence the gas cost is double.

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Three things of interest...first Great Wolf's quarterly earnings press release, where much can be learned, and PKI's adjacent Great Wolf is stressed (and compare the size of its entertainment area to the others...it's gonna be huge):

http://sev.prnewswire.com/leisure-travel-h...03052006-1.html

A Cinci Enquirer article about the forthcoming opening this fall:

http://news.enquirer.com/apps/pbcs.dll/art.../605050367/1076

And a general article about Great Wolf and commerical property potential:

http://www.cpnonline.com/cpn/property_type...t_id=1002465036

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Great Wolf is one of the conference calls I always try to listen to during quarterly earnings. The three key metrics that guide the hotel industry (occupancy, ADR, and RevPAR) have all fallen with their comp. properties from 2005 to 2006. That's got to be a little concerning to them.

The declining results combined with the shareholder lawsuit has to be putting some stress on senior management. I think GWL would be a great acquisition target for someone...maybe Blackstone (who has been buying hotel chains left and right), or one of the other big operators (Hilton, Starwood, Marriott, Accor, etc.)

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You know, if I was Cedar Fair and looking to make an acquisition, something like GWL would look a lot more attractive to me than Paramount Parks would... It's a year-round business in a (somewhat) more resiliant sector of the industry, and the acquisition costs would be considerably lower. Plus, CF has already made pretty sizable investments, and has significant experience in the hotel business.

They could rebrand the properties around a "Knotts Berry Farm" theme (the GWLs already have that Adirondack "Camp Snoopy" look anyway...)

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