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Guest Article
Projections for 2021
For 2021, we will see growth across all segments of the waterpark industry with projected openings of 34 facilities. We also anticipate expansions of more than 31 existing facilities. Regionally, the Midwest leads the U.S. with 16 projected openings, driven by Illinois, Missouri, and Ohio. The South will see 12 openings, the West five, and Canada one.
Indoor Waterparks: With projections of 403,000 square feet (37,440 sq m) of new indoor waterpark space and nearly 771 new rooms, 2021 will be a year of continued growth in this market segment. Notable projects include the new Great Wolf Resort in Manteca, California and the Island Resort and Casino in Harris, Michigan.
Outdoor Waterparks: Growth in the outdoor segment will continue with 21 new standalone waterparks and two resorts with outdoor waterparks anticipated. Larger outdoor waterpark developments in 2021 include the following the Baha Bay outdoor waterpark at Baha Mar Resort in Nassau, Bahamas and Westgate Lakes Resort & Spa in Orlando, Florida. Demonstrating a trend towards more extensive amenities at municipal waterparks, the City of El Paso, Texas, will unveil four new themed waterparks.
Surf Innovations: New innovation continues for the SPRING PART 2 2021
waterpark industry with companies like Surf Lakes, American Wave Machines, SurfLoch, Whitewater, and others providing man-made surfing facilities. We expect to see additional opportunities for consumers to enjoy surfing on artificial waves in the coming years as developers work to construct multiple projects.
Conclusion
The impact on the waterpark industry as a result of the pandemic cannot be over-stated. The substantial losses in revenue and attendance will collectively set the industry back a number of years. Owners and operators will be working hard in 2021 to sustain their properties amid these historic revenue losses. However, for individual properties, the road to recovery will depend on how they embrace the changes and pivot to balancing operations with the concerns and fallout from the pandemic. While we do not see 2021 returning to historic highs for the industry, we do forecast marked improvement from 2020 as the vaccine roll-out reduces pandemic concerns nationwide. With the resiliency of the industry, we expect savvy operators to refocus their marketing and operational strategies to adjust to the new normal, which will set the industry up for a robust recovery. Developers and consumers will continue to be interested in new waterpark developments, and we expect to see a continued pipeline of new projects in the coming years.
H&LA
estimates an overall impact of the COVID- 19 pandemic of $3.7 billion in lost revenue.
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