Posted Wednesday, February 28, 2007 10:55 AM | Contributed by Jeff
Great Wolf Resorts today reported results for the quarter and year ended December 31, 2006.
Fourth Quarter 2006 Highlights
- Reported Adjusted EBITDA of $8.5 million, achieving the high end of earnings guidance range, which was upwardly revised on February 9, 2007, resulting in full year 2006 Adjusted EBITDA of $38.0 million.
- Generated total revenues of $34.2 million, Adjusted net income of $0.1 million, and Adjusted net income per share of $0.00.
- Increased same store RevPAR by 8.0 percent and same store Total RevPAR by 6.2 percent compared to the 2005 fourth quarter.
- Opened the 401-suite Great Wolf Lodge resort adjacent to Kings Island in Mason, Ohio.
- Broke ground on construction of a 394-suite Great Wolf Lodge resort in Grand Mound, Wash.
- Closed on a $97 million, 10-year, 6.1 percent fixed rate loan secured by the Pocono Mountains resort.
Read the press release from PR Newswire.