Great Wolf Resorts, Inc. announced recently in a press
release that it has signed License and Management
Agreements related to the development of a new Great Wolf
Lodge resort in Southern California. The propperty will be
located less than two miles from Disneyland, near Anaheim
and Los Angeles, and will be developed by McWhinney, a
diversified real estate company based in Loveland,
Once complete, Great Wolf Lodge in Garden Grove's
International West Resort, will be a full-service, family
destination resort with 600 suites, 30,000 square feet of
meeting space, 100,000 square feet indoor water park and
additional indoor entertainment areas and amenities.
Development is expected to begin in 2011.
The project is contingent on obtaining construction
financing, typical due diligence, and permit and license
approvals. The resort will be owned by a joint-venture,
with Great Wolf Resorts receiving a minority equity
interest for its development-related services.
Additionally, the City of Garden Grove will contribute cash
and bond proceeds to the resort, as well as establish a
financing district to develop an adjacent parking
structure.Great Wolf Resorts will receive license fees for
use of the Great Wolf Lodge brand name and other
intellectual property at the resort, and management fees to
operate the resort on behalf of the owner. It will also
advise on certain development-related matters.
"I am very excited about this license and management
agreement. With a sizable population within a three hour
drive along with the close proximity to Disneyland, we have
an attractive location for Great Wolf's first California
resort," said Kim Schaefer, Chief Executive Officer of
Great Wolf Resorts. "The area is already established as a
vacation destination with domestic and international
travelers so it allows us to continue to monetize the value
of the Great Wolf Lodge brand, business model and
infrastructure. Utilizing joint ventures to grow our brand
footprint with minimal capital requirements will help us to
maximize the value of the company for shareholders."
Chad McWhinney, co-founder and chief executive officer
of McWhinney commented, "We are pleased to be partnering
with Great Wolf Resorts in developing a first-class
destination. Our expertise as a comprehensive developer on
the West Coast, combined with Great Wolf's leading brand in
indoor water park resorts, is sure to result in a
successful family destination."
"The Great Wolf Lodge will be the biggest attraction to
be included in the International West Resort. This will be
the most significant revenue generator in the City," said
Matt Fertal, City Manager of the City of Garden Grove.