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Great Wolf Expands Resort Holdings

MADISON, WI-During the company's first quarter, Great Wolf Resorts Inc. makes headway on several US developments. Moving into the second quarter, company execs plan to extend the company's destination-property reach even further.

By Dana Dubriwny | Updated on May 03, 2006

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MADISON, WI-Executives with Great Wolf Resorts Inc., an operator and developer of family-oriented destination properties, reported total revenues of $37.8 million during the company’s first quarter ended March 31. Despite a slight disruption and minor damage sustained at the company’s Kansas City property, which resulted in lost revenue and additional expenses of between $500,000 and $700,000, chief executive officer John Emery said the company’s first quarter was better than analysts’ estimates. Advance bookings for the second quarter are also on track to exceed numbers from same year-ago period.

While results from the company’s northeast properties continue to gain positive results, the company’s Sandusky, OH and Traverse City, MI properties remain challenging, “primarily as a result of the combination of negative regional economic factors and increased competition over the last two years,” Emery said. “We have adjusted our marketing programs for these properties to address the challenges in the Ohio and Michigan markets.”

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