david j. sangree
Measuring Economic Impact Is a Win-Win for Developers and Municipalities
David J. Sangree | June 28, 2024
June 2024, by David J. Sangree, MAI, CPA, ISHC Introduction: At a time when financing for hospitality development projects is challenging for developers, it can often mean that some projects won’t ever come to fruition. At the same time, municipalities would like to increase their hotel or resort offerings to attract travelers to their destinations while remaining fiscally responsible. When developers seek government assistance for development projects, state and local authorities must balance the needs of developers in the community with the financial realities of the project. Commissioning an economic impact study will provide important ...
Waterparks Maintain Momentum in 2024 Amid Growth and New Opportunities
David J. Sangree | April 11, 2024
By David J. Sangree March 2024 – In 2023, waterpark owners and operators saw a more competitive market as attendance levels remained similar to 2022 while ticket pricing growth was more subdued. This occurred due to increased competition from a variety of additional attractions and entertainment venues in the post-pandemic economy. In 2023, 16 indoor waterpark openings and expansions added 480,000 square feet of indoor waterpark space while twelve new outdoor waterparks opened. New growth is forecasted for indoor and outdoor waterparks in 2024 as several large-scale projects will open that will alter the waterpark landscape. These projec...
Waterparks Riding a Recovery Wave in 2022
David J. Sangree | April 14, 2022
After two years of pandemic concerns that saw many waterparks remain closed throughout 2020 and suffer continued disruption in 2021, 2022 is anticipated to be a pivot back to normal for the industry. As vaccines are now widely available and COVID becomes endemic, waterparks are poised to capitalize on pent-up demand and return to pre-COVID performance levels. While 2021 saw robust growth in pricing at many properties, 2022 will see the industry open a number of expansions and new developments. Several large-scale projects will alter the waterpark landscape at both indoor and outdoor waterparks and continue to encourage properties to innovate ...
Waterparks: Despite 2020 Challenges, Growth Forecasted in 2021
David J. Sangree | April 26, 2021
By David J. Sangree The COVID-19 crisis was the definitive event of 2020. The lodging and attractions industries were among the most negatively impacted sectors and experienced record declines in occupancy, attendance, and revenue. With mandated closures, limited capacities, and travel restrictions, many outdoor waterparks delayed their season openings while others decided, or were mandated, not to open at all in 2020. Many resorts with both indoor and outdoor waterparks and standalone indoor waterparks were forced to close for several months. Current projections for the vaccine rollout indicate a return to normalcy no earlier th...
COVID-19 Impact on U.S. Waterparks and Waterpark Resorts in 2020
David J. Sangree | August 26, 2020
By David Sangree, Nuresh Maredia The current COVID-19 crisis continues to have a significant negative effect on the waterpark industry. Waterparks play a major role in providing entertainment, supporting job creation, fostering small business opportunities, and contributing to robust economic growth. Due to COVID-19, many outdoor waterparks delayed their season openings while others have decided, or were mandated, not to open at all in 2020. Many resorts with waterparks and standalone indoor waterparks were forced to close for several months, and some have yet to reopen. With the largest database of waterparks and waterpark resorts ac...
U.S and Canada Waterpark and Resort Trends in 2020
David J. Sangree | April 8, 2020
By David J. Sangree At the beginning of 2020, the continuing trend of two decades of growth was expected in the waterpark industry. Major projects will open throughout the United States in both the indoor and outdoor waterpark categories totaling over $1 billion in investment in 2020. Fourteen new standalone waterparks and one resort with outdoor waterpark are anticipated to open. The indoor segment will total square feet of new waterpark space in 17 properties. However, the recent outbreak of the COVID-19 pandemic has thrown the industry into uncertainty in 2020. This article reflects the projected growth for the waterpark industry as it ...
Waterparks: Growth Trends in 2019
David J. Sangree | April 15, 2019
Diving Into Waterpark Growth Trends in 2019: 2019 will bring growth to the U.S. & Canadian markets as waterparks continue to evolve their attraction mix. By David J. Sangree, MAI, CPA, ISHC For the ever-growing waterpark industry, 2019 will be another year for robust growth as over $1 billion in investment is slated for indoor and outdoor waterparks and their related resorts. We project 21 municipal and private outdoor waterparks will open and three resorts will add or expand outdoor waterparks. The indoor segment will total 629,200 square feet of new waterpark space in 12 properties. Three of this year's most anticipated and exp...
Hotel & Leisure Advisors Top Five Takeaways From NYU Hotel Investment Conference
David J. Sangree, MAI, CPA, ISHC | June 18, 2018
by David J. Sangree The sentiment at the 2018 NYU Hotel Investment Conference was very positive for the industry with expectations of continued growth in the coming years. Among the wealth of relevant information from the conference, we identified several key takeaways that highlight the state of the industry in 2018 and beyond: Overall, the feel of NYU was positive, with attendees, panelists, and speakers all expecting and planning for continued growth for the industry. However, the industry is rapidly changing with technology and the sophistication of hotel and resorts guests. This means brands, developers, and investors need to conti...
