Deal Ends Bidding War for Great Wolf Resorts

Hotels & Resorts

A three-week bidding war between two private-equity firms vying to purchase Great Wolf Resorts Inc. finally came to an end Friday, when KSL Capital Partners LLC surrendered and said it would not be submitting another bid. The indoor water park operator, which has 10 resorts in the United States and one in Canada, initially struck a deal with Apollo Global Management LLC at $5 per share, but KSL started pushing up the price with a series of counteroffers. After six bids and counterbids, Apollo’s final offer stands at $7.85. At that price, the resort company’s worth comes to about $760 million, including its debt. The deal still needs to be approved by shareholders. wsj.com

  • RELATED POSTS
  • EDITORS PICKS
  • finance-and-insurance

    Loosening the Financial and Insurance Industry Belt

    Financial and insurance industry planners now have more freedom when arranging events Questions abound when meeting planners in the financial and insurance industries begin choosing where to hold events. Big market or small market? Use an end-to-end…

    new and renovated

    New and Renovated: Neighborhood Watch on Convention Centers

    New and renovated properties invigorate their destinations Marriott Marquis San Francisco There goes the neighborhood. Whenever convention centers and hotels are renovated or new properties emerge, the neighborhoods in which they reside are often injected with a…

    nashville

    Not Just Second Fiddle

    Unusual Guest Complaints

    12 Unusual Guest Complaints

    Just about all of us have registered complaints with hotel staff over the years, and we like to think that we’ve been reasonable. Many of us have also overheard other guests voicing some pretty strange grievances. The…

    hip hotels

    Hip Hotels: Catering to the Hip Crowd

    New hotel brands provide adventurous experiences for the young at heart For many of us, trying to stay hip—or at least relevant—isn’t easy. (Skinny jeans that now flare at the hem?) Actually, the same goes for our…