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+--- Thread: GREAT GOLF RESORTS AQUIRES WATER PARK (/thread-1279.html)
GREAT GOLF RESORTS AQUIRES WATER PARK - TEAM HARLFORUM - 02-05-2017
paid $39.1 million for Bloomington’s Water Park of America and will invest more into the property when it closes the attraction and an attached hotel for an overhaul this year.
Finance & Commerce reports on the terms of the deal, which was announced by Madison, Wis.-based Great Wolf (NASDAQ: WOLF) last month. The listed sale price doesn't include undisclosed personal property, so the total value could be higher.The seller was Wheelock Street Capital of Greenwich, Conn., which paid $49 million for the property in 2010.
Bloomington has already approved a request from Great Wolf to begin renovating the water park and hotel. The Business Journal had earlier reported that the company wants to rebrand the property as a Great Wolf Lodge and add ropes course, rock wall and bowling alley. The hotel also will get a new banquet facility and meeting space.
For local residents, the biggest change will be that the water park will no longer sell day passes; it will only be open to hotel guests.