Great Wolf Resorts, Madison, reported a net loss of $9.3 million, or 29 cents a share, on revenues of $76.8 million for the quarter that ended March 31. That compares with a net loss of $6 million, or 19 cents a share, on revenues of $71.9 million for the same period last year.
Great Wolf runs 11 indoor water park resorts, and the quarterly report this week said the company expects economic problems will continue to hold down revenue at its Traverse City, Mich., and Sandusky, Ohio, resorts, while its Wisconsin Dells location has been "significantly impacted" by competition from 16 other indoor water park resorts in that area.
The company said, though, it expects to grow by building more Great Wolf locations and by buying existing properties and turning them into part of the Great Wolf brand, as well as licensing some of its features, such as the MagiQuest live action game.
As of last Friday, Great Wolf is no longer a publicly traded company. Great Wolf was purchased by Apollo Global Management, a New York private equity firm, for $798 million including $7.85 a share and assumption of Great Wolf's debt.