PRIVATE EQUITY OWNED
Great Wolf Lodge
Includes Great Wolf Resorts, Great Wolf
family resort · Chicago, IL
- Acquirer
- Blackstone Real Estate (65%) / Centerbridge Partners (35%)
- Year Acquired
- 2019
The water park where Blackstone makes a splash with your vacation budget.
The PE Playbook
- Blackstone acquired 65% controlling interest in 2019 in a $2.9 billion deal with Centerbridge
- Blackstone has invested over $1.5 billion in the company since 2019
- Aggressively expanding to 22+ resorts including new builds in Florida, Texas, and Connecticut
- Family-focused pricing increasingly creeps upward as the PE growth machine demands returns
Since the Acquisition
- Average nightly room rates rose from $241 to $274 by 2023 — a 14% increase under Blackstone ownership
- Mandatory resort fees of $29.99-$75 per night hidden throughout booking and only revealed at checkout
- The resort fee covers 'amenities' like life jackets, towels, WiFi, and the coffee maker already in the room — items most hotels include free
- Multiple consumer complaints describe a 'bait and switch' where total cost is 20% more than advertised
Sources
- PE backing fuels Great Wolf Lodge expansion — Hartford Business(2024-11-01)
- My Great Wolf Lodge bait and switch experience — Travel on Point(s)(2024-01-01)
- Great Wolf Lodge improves resort fee policy (a bit) — The Points Guy(2024-01-01)
- Blackstone Acquires 65% of Great Wolf Resorts — Blackstone(2019-10-01)