July 23, 2014 6:42 PM ET

Hotels, Restaurants and Leisure

Company Overview of Great Wolf Resorts, Inc.

Company Overview

Great Wolf Resorts, Inc., together with its subsidiaries, engages in the ownership, development, operation, and licensing of family resorts in North America. The company operates through two segments, Resort Ownership/Operation and Resort Third-Party Management/Licensing. Its family resorts consist of indoor waterparks and other family-oriented entertainment activities. The company operates its family resorts under the Great Wolf Lodge brand. As of April 24, 2013, it operated 11 Great Wolf Lodge resorts located in Wisconsin Dells, Wisconsin; Sandusky, Ohio; Traverse City, Michigan; Kansas City, Kansas; Williamsburg, Virginia; Pocono Mountains, Pennsylvania; Mason, Ohio; Grapevine, Texas; Gra...

525 Junction Road

Suite 6000 South

Madison, WI 53717

United States

Founded in 1992

2,600 Employees

Phone:

608-662-4700

Fax:

608-662-4701

Key Executives for Great Wolf Resorts, Inc.

Chief Executive Officer and Director
Age: 48
Chief Financial Officer and Executive Vice President
Age: 51
Chief Operating Officer and Executive Vice President of Operations
Age: 48
Senior Vice President of Operations
Age: 42
Chief Information Officer
Compensation as of Fiscal Year 2014.

Great Wolf Resorts, Inc. Key Developments

Great Wolf Resorts, Inc. Begins Construction in Massachusetts on its Newest Resort

Great Wolf Resorts, Inc. has began construction in Massachusetts on its newest resort. Great Wolf Lodge New England will be a first-class destination resort, providing families with more than 100,000 square feet of entertainment offerings and lodging amenities to enjoy, all under one roof. The centerpiece of the resort will be more than 68,000 square feet of indoor waterpark fun. With signature Great Wolf Lodge water rides and attractions, including the thrilling six-story funnel slide, Howlin' Tornado; Slap Tail Pond wave pool and Fort Mackenzie -- a multi-level interactive tree house with its signature tipping bucket -- the new resort will feature water fun for everyone. The 406 guest suites will provide the perfect place for families to relax after a full day of waterpark play. Each suite will comfortably accommodate at least five people and include an in-room refrigerator, microwave and coffee maker. Families can choose from several suite styles, including the kid-themed Wolf Den, and KidCabin suites, which feature bunk beds and colorful spaces. The resort will also debut suite styles, including the Majestic KidCabin and the Grizzly Wolf Dens. The Majestic KidCabin will sleep 11 people and feature two bathrooms, a separate king bedroom, two queen beds and a themed cabin for kids, complete with a daybed and a set of bunk beds. The Grizzly Wolf Den will sleep ten people, have two separate bedrooms, two bathrooms, a living room area and themed kids Wolf Den, complete with bunk beds. Families will delight at the wide variety of activities found throughout the entire resort, perfect for children of all ages. Attractions and amenities include: The brand's first and only indoor play area, boasting over 16,000 square feet of entertainment complete with a multi-level ropes course and indoor miniature golf; MagiQuest, a live-action, interactive game where kids use wands to battle dragons and save pixies; Scooops Kid Spa for ice cream-themed manicures and pedicures; Ten Paw Alley mini bowling; Daily kids' activities as part of the resort's Cub Club on Wheels program; and The Great Clock Tower Show and evening Story Time by the fireplace -- a Great Wolf Lodge tradition that brings everyone together in the Grand Lobby each night. Great Wolf Lodge New England will also feature several dining options and food outlets including the brand's new Lodge Wood Fired Grill restaurant and bar, the Bear Paw Sweets & Eats confectionery cafe, Hungry as a Wolf handcrafted pizza and pasta and a Dunkin' Donuts(R). Great Wolf Lodge New England will be the company's twelfth resort. It will be located off Route 2, 45 minutes from Boston and is expected to open in late spring 2014.

Great Wolf Resorts, Inc. Enters into Credit Agreement

On August 6, 2013, Great Wolf Resorts, Inc. entered into a credit agreement governing the senior secured credit facilities, consisting of a $320.0 million term loan B facility which matures on August 6, 2020 and a $100.0 million revolving credit facility which matures on August 6, 2018, with a syndicate of lenders and Deutsche Bank AG New York Branch, as administrative agent, collateral agent, swingline lender and L/C issuer. The term loan B facility provides for quarterly amortization payments totaling 1.00% per annum of the original principal amount of the term loan B facility, with the balance payable on the final maturity date. The terms of the senior secured credit facilities allow GWRI to prepay loans and permanently reduce the loan commitments under the senior secured credit facilities at any time, subject to the payment of customary LIBOR breakage costs, if any, provided that, in connection with certain refinancing or repricing of the term loan B facility on or prior to the date that is six months after the closing date of the Credit Agreement, a prepayment premium of 1.00% will be required. The interest rates with respect to loans to GWRI under the term loan B facility and revolving credit facility are based on, at GWRI's option, (a) (x) the greater of adjusted LIBOR and 1.0% plus (y) an interest margin of 3.5% or (b) (x) the greater of (i) the Federal Funds Effective Rate plus 0.5%, (ii) Deutsche Bank prime rate and (iii) 2.0% plus (y) an interest margin of 2.5%. The interest margins under the senior secured credit facilities are subject to reduction based on achievement of specified first lien secured leverage ratios.

Dunkin' Donuts Checks into Great Wolf Lodge in Michigan and Virginia

Dunkin' Donuts is extending its stay in the lodging market with the opening of two new locations at Great Wolf Lodge resorts in Michigan and Virginia. These are the second and third restaurants to open from a franchising agreement between Dunkin' Donuts and Great Wolf Resorts, which debuted its first Dunkin' Donuts location in 2009 at the Great Wolf Lodge in Concord, North Carolina. The new Dunkin' Donuts locations at Great Wolf Lodge resorts opened May 18 in Williamsburg, Va., and June 1 in Traverse City, Michigan. Great Wolf Resorts owns and operates these locations, which serve Dunkin' Donuts' menu of delicious foods and beverages that can be enjoyed all throughout the day. These items include a range of hot and iced coffee and espresso beverages; a variety of donuts, muffins and croissants; and oven toasted breakfast sandwiches.

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