Water Park Industry Trends
Some current trends in the US water park industry include the increased emphasis on an immersive experience and the rising number of indoor waterparks.
Increased Emphasis on an Immersive Experience
- It is a trend in which waterparks are placing extra and bigger television screens throughout the park. Recently, many waterparks have been seeking to place TVs around their wave pools, using them to play videos of different attractions or hosting in-pool movies.
- The concept behind this trend is that visitors can view videos about other attendees in the vicinity while they are in any particular section of the park, imploring "them to move around" and help to increase enthusiasm.
- This trend is driven by technology, with both waterparks and designers increasingly placing greater emphasis on displaying storylines and themes.
- The Aquatic Development Group is an example of a company at the forefront of this particular trend.
Rising Number of Indoor Waterparks
- It is a trend in which indoor waterparks have turned into the waterpark industry's quickest developing segment.
- In 2018, new investments in both outdoor and indoor waterparks reached over $1 billion. That same year, there were almost 60 different new facilities and expansions opened, according to the Cornell Real Estate Council. Additionally, the council predicted a total of eight private outdoor waterparks opening in 2018.
- There were plans for around 464,000 square feet worth of waterpark space for the indoor division in 2018 (from nine indoor waterpark resorts). As of 2018, the total number of indoor waterpark resorts and standalone indoor waterparks in the United States has reached 136 and 85, respectively.
- The trend is driven by the negative impact weather tends to have on outdoor waterparks. Indoor waterparks prevent guests from enduring mother nature's inconveniences.
- With this, indoor waterparks are capable of operating year-round. Additionally, these resorts provide families with a destination to experience a mini-vacation and not have to travel extensively. These families are able to spend well-deserved time with one another in an eventful, secure area.
- An example of a company that is at the forefront of this trend is The Kartrite Resort & Indoor Waterpark, which serves as New York's largest indoor water park.
To identify some current trends in the U.S. water park industry, we searched through news articles, press releases, and media publications on related topics. The rationale for this research strategy was to try to identify something that people, companies, or other actors are doing more often (or less frequently), over a time, which involves a change in how things are done. We searched through numerous news articles published in leading media outlets, including Forbes, New York Times, Wall Street Journal, Financial Times, TapMag, Business Insider, Fortune, and Bloomberg, among others.