david 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 Poised for More Growth Amid Robust Recovery
David J. Sangree | April 19, 2023
By David Sangree In 2022, waterpark owners and operators breathed a sigh of relief as the industry shifted back to normal in the wake of two years of uncertainty. With the pandemic a rearview concern in 2022, most waterparks continued their recovery to see attendance improve. This robust performance paved the way for new growth in all segments of the industry. Several large-scale projects planned for 2023 and beyond will alter the waterpark landscape at both indoor and outdoor waterparks. These projects will continue to encourage existing properties to innovate and update to keep market share. The industry is also seeing elevated intere...
NYU Investment Conference Takeaways
David J. Sangree | June 21, 2022
David Sangree, MAI, CPA, ISHC had the opportunity to attend the NYU International Hospitality Industry Investment Conference on June 6-7 at the New York Marriott Marquis. The following are some key highlights from the conference. ADR growth: The growth in ADR in 2022 has exceeded everyone’s projections for the industry. The actual ADR is above 2019 levels for the U.S. for the past 10 months although the inflation-adjusted ADR is just getting back to 2019 levels since March 2022. In some markets, such as the Florida Keys or northern New England, ADR growth has been well above the nation. Other urban and commercial-oriented markets have se...
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...
2018 Waterpark Forecast: Expansion
David J. Sangree | April 10, 2018
By David J. Sangree, MAI, CPA, ISHC Introduction The waterpark industry continues to expand in North America, with more than $1 billion in new investment in indoor and outdoor waterparks and their related resorts in 2018. Nearly 60 expansions and new facilities will open in 2018. We project 14 municipal and eight private outdoor waterparks will open, outpacing 2017's nine municipal and four private outdoor additions. We foresee increased growth in the indoor segment, where an additional 464,000 square feet of waterpark space is planned. Two of this year's most anticipated new waterparks are the SoundWaves Waterpark at Gaylord Opryland R...
