A case study in accommodation development: The Great Wolf Lodge
The search for areas in which to expand its properties was easy for Ripley's Entertainment - its long-standing presence in Niagara Falls made it a natural location for the company to to base Canada's first Great Wolf Lodge and Ripley's Aquarium."
“For businesses to be a success, they have to have location, location, location," says Tim Parker, general manager of Ripley's Canadian Resort Ventures. "We decided on Niagara Falls for the aquarium because the region's tourism industry is already strong.”
“Niagara has always had a solid market. That's one of the reasons we believe expanding in the region will pay off. Tourist attractions will always be a part of Niagara Falls."
While the development of the aquarium was in the works, obtaining the rights to the Great Wolf Lodge's Canadian franchise presented the company with an opportunity. The timing couldn't have been better for Ripley's, as it plans to move into the accommodations market. And so, in 2006, Great Wolf Lodge, a $200-million resort property, opened as a modified version of the international chain.
“It made sense to build the lodge in the same place," says Parker. "It's always been our vision that the lodge and the aquarium be a one-stop destination place for tourists."
Eventually, Parker says the location will become one of the city's biggest draws for tourists.
“The lodge has been doing really well. People like the product, and we have a high guest return rate. We're really happy with what's been going on during the first six months of operations."
Construction will now begin this spring on the aquarium project. The 115,000 square foot venue is set to open in 2008.
Ripley's Entertainment plans to wait until the lodge has been open for a full year before considering expansion to other sites in Canada.
“We looked at other places for the first lodge, but Niagara Falls always made the most sense for our first hotel," said Mr. Parker.
For more information on tourism investment opportunities throughout Ontario, please visit: www.investinontario.com/tourism/regionalinvest.asp.