Kathleen McCarthy Baldwin’s Post

Transcript

Good news, certainly for those planning to visit indoor water parks, including the Great Wolf Lodge in Pennsylvania. Madison, all. We're joining us now from the park, which is in the Poconos, Madison. Hey Liz, you know, it's so important for the visitors to Great Wolf Lodge. They have 20 locations across the country and most of the folks that visit, they do drive to get there. So it's incredibly important to the company and to the base year that those people, they can get to the resort with the drive. That way you don't have to buy airfare tickets for a family of four or five people. So much so they're doubling down right now. Like I said, there's twenty locations, but by early 2025, they're going to open 3 new ones, which will mean that 90% of Americans. Will be within a four hour drive of a great Wolf Lodge location. I want to bring in Brian Robinson, he's the Chief People Officer. You know you guys are investing, you're opening up new locations and doubling down on existing real estate like this one. How are you leveraging capital in order to do that? Well, Madison, we've had tremendous partnership and certainly significant investment from our Blackstone and Centerbridge shareholders. Not only grow the number of resorts again 2 coming this year and another one early next year, each of the tune of about 250 to $300 million. But also to expand and renovate our existing portfolio as well. So here in the Pocono Mountains, recent renovation and expansion project, $125 million down, only expand this water park by 40,000 square feet, but 200 new rooms and 30 beautiful 3 bedroom villas for all of our guests to enjoy. Brian, thank you so much. And I mean, it's working. They have a 90% occupancy rate throughout the year. And when it comes to hospitality, a good review, that's a good sign. But what's a really good sign that you're doing well is a repeat customer. We actually met a family that has been here. Was shocking number of times. Take a listen. We've been to this location, Poconos, 67 times. We've been to North Carolina, Virginia, Georgia, Maryland and Massachusetts and Niagara Falls. We keep coming back because Great Wolf is so cozy, so accommodating everything under one roof. Doesn't matter what the weather is outside, you can. There's so much to do inside. Between all of the children's activities, the arcade, the magic quest, the water park, there's something. All day long going on. OK, so you can tell, obviously she loves it and her family does. So I had to check out the action, you know, really important investigative journalism here. I took a ride down Wolf Tail, which is their yellow drop slide. That initial drop is the equivalent of two stories. So the target demographic for a great Wolf Lodge is families with kids 2 to 12, Liz. But I'm not in that age group. And I can tell you no bias. That slide was awesome. And this resort is a ton of fun. So it makes sense why they're expanding. Listen, I'm all about water parks, or at least I was when the kids were younger. Madison, thank you very much. Madison Alworth, we gotta.