Great Wolf Promotes COO, Alters Property Plan

MADISON, WI-As the largest water park resort hotel owner looks to go global, Kimberly Schaefer, COO, has been promoted to president of Great Wolf Resorts Inc., based here. She will lead the company into efforts to expand the company’s 12 properties to more international markets, using a new method of licensing instead of direct ownership in this down economy, says a firm spokesman.

Schaefer has been with the company for 11 years, said Randy Churchey, interim CEO, in a statement. There was not previously a president of the company. Former CEO John Emery resigned in May. The company has consistently recorded losses, including a net loss of $2.3 million in the first quarter and $4.1 million in the second quarter.

The spokesman tells GlobeSt.com that the firm hopes to stem losses by either forming joint ventures or taking on license deals on all future projects. “This is a shift in our development strategy, most of our properties are company-owned,” he says. “With the current capital and credit markets, this is a more viable thing to do, as opposed to building new facilities from the ground up. Kim will lead this effort.”