|
offer the gamut and that allows people to spend time on what ’ s most important and that ’ s connecting with their family . It ’ s really different than any other hospitality product .”
Great Wolf ’ s rather nontraditional product is equaled by the company ’ s approach to business . Unlike others , Great Wolf manages and owns all its assets , save for its Niagara Falls property , which is franchised . “ We ’ re in control of our own destiny ,” Murphy said , command that allows the company to pivot quickly as needed and bring new and exciting ideas to market with alacrity . “ We can do it in ways that are much quicker than the traditional format .”
Great Wolf is primarily focused on one cohort : families with children , the more the merrier . Murphy said that 90 % of its business is direct and it does around 5 % group , mostly catering to SMERF , or groups that fall under the categories of Social , Military , Education , Religious and Fraternal . Annual occupancy levels , which spike on school breaks , are around 80 %. They could reach higher . In
The outdoors-themed setting at Timbers Table & Kitchen at Great Wolf Lodge Pocono Mountains .
|
April , Hilton Grand Vacations announced a partnership with Great Wolf that allows HGV members the ability to exchange club points for stays at Great Wolf properties . In addition , Great Wolf Lodge guests will receive curated offers to explore HGV ’ s network of properties .
Of the alliance , Murphy noted a similarity in cultures around the idea of connection to families . “ This is a real win-win for both partners ,” he said . “ It increases the family experiences available
|
and provides them with an opportunity to gain exposure to our guests and share the benefits of vacation ownership .”
PROOF OF PRODUCT The evidence of the strength of Great Wolf Resorts ’ business , particularly through COVID , was made clear earlier this year through $ 2.55 billion worth of CMBS portfolio refinancing , supported by a pop in leisure travel , especially to drive-to destinations . “ Being able to pull together as a family unit and vacation is always important ,” Murphy said . “ The markets responded to that . We ’ ve had exceptional growth and all of this came together on this recent refinancing .”
In July , Great Wolf Lodge Grand Mound , in Washington , a midpoint between Seattle and Portland , celebrated the completion of a $ 40-million renovation project that included updates to the guest suites , water park , attractions ,
|
The pool at Great Wolf Lodge Pocono Mountains , which is about two hours north of Philadelphia and recently completed a $ 125-million , top-to-bottom renovation .
restaurants , conference center and more .
Late last year , Great Wolf Lodge Pocono Mountains unveiled a $ 125-million resort-wide transformation that included the addition of 202 new suites , 30 new three-bedroom villas , seven new water slides , two new restaurants , a new outdoor pool and entertainment space and a completely renovated lobby . These accretive moves are characteristic of something Murphy promised more of , what he referred to as “ densification projects ,” with a specific focus on the addition of more villas to accommodate families at a higher price point .
Great Wolf properties , expectedly , require frequent and often intense care . Once a year , each one of the water parks shuts down for weeks for proper maintenance and safety checks . “ An important part of our proposition is keeping families safe ,” Murphy said .
|
||
36 hotelsmag . com September 2024 |