Great Wolf announces 4Q06 and full year results

Posted | 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.