Waterpark Industry Poised to Grow and Innovate in 2025 | By David Sangree

In 2025, several large-scale projects will debut. These projects will add to a growing waterpark space and bring additional innovation to an industry that often sees rapid changes in guest preferences. The success of waterparks in 2025 will depend on their ability to maintain or capture market share amidst a changing landscape of offerings. This will push existing properties to innovate amenities, refine pricing strategies, and focus on providing unique experiences among competitors, often within the same market area.

Surf parks and lagoons are redefining water-based entertainment, pushing beyond the boundaries of traditional waterparks. Developers are blending thrilling water slides and interactive attractions with the excitement of surfing to create destinations that captivate a wider audience. Over the past several years, H&LA has consulted on an increasing number of lagoon and surf park properties. With competition intensifying to dominate key markets, we expect surf parks and lagoons to grow in popularity, appealing to both thrill seekers and those looking for a relaxing beach holiday.

CURRENT WATERPARK STANDINGS FOR THE U.S. AND CANADA

As of February 2025, the United States and Canada had a total of 1,253 waterparks. Twenty-five of these properties opened in 2024, while one property closed. Most of these openings were in the outdoor standalone waterpark segment, with two new private facilities and thirteen new municipal/non-profit facilities. Two new resorts with outdoor waterparks, five new indoor waterpark resorts, and three new standalone indoor waterparks also opened.

The following bullets break down the numbers regionally for all waterparks in the U.S. and Canada:

• The Midwest and South are home to the most waterparks, with 448 and 417, respectively.
• The Midwest and South are home to the most outdoor waterparks with over 300 each, while Canada at 33 has fewer than any U.S. region. Outdoor waterparks in the South typically have slightly longer operating seasons than those in the Northeast and Midwest due to more favorable weather conditions.
• The Midwest holds more than half of all U.S. and Canadian indoor waterpark resorts with 84 of the segment’s 154 properties.
• The West leads in standalone indoor waterparks with 53, primarily due to the large number of municipal/non-profit indoor aquatic facilities with waterparks in Colorado and Utah.
• The South leads in resorts with outdoor waterparks with 63.
• Indoor waterparks account for just over half of the Canadian market with 38 indoor resort and standalone facilities. Outdoor waterparks number 33, and the country has only four resorts with outdoor waterparks.
• Of all hotels with indoor and outdoor waterparks, 48% are affiliated with national hotel franchises while 52% are independent.
• Of all standalone indoor and outdoor waterparks, 29% are private/for-profit while 71% are municipal/non-profit.

The following chart shows the breakdown of waterpark properties by type among the 1,253 waterparks in existence.

Waterpark Industry Poised to Grow and Innovate in 2025

REVIEW OF 2024 NEW OPENINGS AND EXPANSIONS IN THE U.S. AND CANADA

Indoor Waterparks: In 2024, 13 indoor waterpark openings and expansions added 392,800 square feet of indoor waterpark space, short of the 446,000 square feet added in 2023. However, there were 1,384 new rooms in 2024, which outpaced 2023’s 961. The Great Wolf Lodge Resorts in Naples, Florida, and Webster, Texas, contributed the majority of the new rooms and represented the largest new indoor waterparks. These properties feature ropes courses, bowling alleys, miniature golf, and Build-A-Bear Workshops. They each had development budgets exceeding $200 million.

Outdoor Waterparks: The past year saw the debut of 15 new outdoor waterparks, most of which are municipal waterparks featuring three or four slides and a lazy river. The former Raging Waters Waterpark in San Jose, California, reopened as CaliBunga Waterpark. Boulder Beach at Silverwood Theme Park in Athol, Idaho, added “The Emerald Forest,” a $15 million expansion with an eight-slide kiddie area, dueling water-coaster, and “Rapid Grills” food pavilion. Mount Olympus Water & Theme Park in Wisconsin Dells, Wisconsin, debuted its 145-foot-tall “Rise of Icarus” water slide, the tallest in North America.

Resorts with Outdoor Waterparks: Lanier Islands Resort, formerly Margaritaville, added a water coaster to its Fins Up Water Park. Wicked Waves Cape Cod added multiple slides, a lazy river, wave pool, and FlowRider. The Zion Utah Jellystone Park campground resort in Hurricane, Utah, opened with a Water Zone waterpark.

All U.S. Openings: The following map highlights the locations of the 2024 indoor and outdoor waterpark openings in the U.S., inclusive of resorts and standalone properties. It excludes expansions.

Waterpark Industry Poised to Grow and Innovate in 2025

Closures: 2024 saw the closure of only one waterpark. Officials announced that the waterpark at Waterford Oaks County Park in Waterford Township, Michigan, would not open in 2025 due to significant deterioration and waning popularity. Its future is uncertain as the parks department seeks public input.

PROJECTIONS FOR 2025 NEW OPENINGS AND EXPANSIONS IN THE U.S. AND CANADA

We are currently tracking 23 potential openings in the U.S. and four in Canada. We also anticipate the expansion of 15 existing facilities. Regionally, the South leads with nine projected openings, followed by the Midwest with eight, the West with four, and the Northeast with two. The following map highlights the locations of these U.S. properties. It excludes expansions.

Waterpark Industry Poised to Grow and Innovate in 2025

Indoor Waterparks: We project 526,080 square feet of new indoor waterpark space in 2025, which will surpass 2024’s 392,800 square feet. New indoor waterpark resorts and expansions will add 953 new rooms, falling short of 2024. The most significant additions in this segment are:

• Great Wolf Resorts will open its Mashantucket, Connecticut, resort at Foxwoods Resort Casino marking the third consecutive year in which the company debuted a new property. The $300 million resort will feature 549 rooms and a 92,000-square-foot waterpark.
• The Chickasaw Nation opened the $400 million OKANA Resort & Indoor Waterpark in Oklahoma City, Oklahoma, adjacent to the First Americans Museum in February 2025. OKANA features 404 rooms, a 100,000-square-foot waterpark, 4.5-acre outdoor lagoon, spa, dining, amphitheater, and conference center.

Outdoor Waterparks: Growth in the outdoor segment will continue with 12 new standalone waterparks anticipated, and many existing waterparks are investing in modest to large expansions in 2025. Highlights include the following:

• The previously closed Raging Waters in Sacramento, California, is being redeveloped as California Dreamin’ and is on track to reopen in June.
• Siouxland Splash in Sioux City, Iowa, is scheduled to open Memorial Day weekend. The waterpark will feature multiple slides, a lazy river, children’s play structure, and pools.

Resorts with Outdoor Waterparks: We currently anticipate six openings or expansions in this segment for the coming year, indicating significant growth over 2024. The most significant addition is the Gaylord Pacific Resort & Convention Center in Chula Vista, California, with 1,600 rooms and a 4.25-acre waterpark. Other notable developments are the Dream Outdoor Resort in Callahan, Florida, and River Country Water Park at Westgate River Ranch Resort & Rodeo in River Ranch, Florida.

GREAT WOLF RESORTS GROWTH

After opening their first two resorts in Wisconsin Dells, Wisconsin, in 1997 and Sandusky, Ohio, in 2001, Great Wolf Resorts began expanding to markets across the United States. From 2003 to 2009, they opened twelve new properties. Resorts from this period averaged around 400 rooms with indoor waterparks averaging 70,000 square feet.

Following that period, no new resorts were introduced until 2016. Since then, they’ve averaged about one new resort per year. Their four most recent additions from 2021 to 2024 indicate a trend toward larger resorts ranging from 500 to 700 rooms and indoor waterparks from 92,000 to 100,000 square feet.

Waterpark Industry Poised to Grow and Innovate in 2025

We analyzed Placer.ai visitation data from 2017 to 2024 for the 21 U.S. Great Wolf Lodge resorts. Placer.ai uses cell phone tracking software to determine the number of visits to a predefined target area. Such tracking does not provide exact attendance at a destination but does offer a representation of the number of visitors to the attraction.

Following the COVID-19 downturn and recovery from 2020 to 2022, visitation exceeded pre-pandemic levels in 2023 and continued to climb in 2024 as the Webster, Texas and Naples, Florida properties came online.

Waterpark Industry Poised to Grow and Innovate in 2025

We will see continued expansion over the next several years with their Mashantucket, Connecticut, resort opening in 2025, and resorts in Jackson, Tennessee, and Cornwall, Ontario, in the planning stages. The company also plans to develop their first resort overseas in Bicester, England.

SURF PARKS AND LAGOONS

Since 2020, H&LA has seen increased interest from developers in surf parks. Either standalone or connected to complementary mixed-use facilities or waterpark developments, surf parks are gaining in popularity. Many investors and operators see opportunities to be market leaders in the United States and Canada, as this trend is still in its infancy. This renewed interest in surfing is fueled by findings from Surf Park Central that willingness to pay for 10 perfect waves has increased 206% to 307% since 2015. Since 2020, H&LA has completed 17 studies for various surf parks as developers increase their interest in this niche segment. Our studies have spanned multiple states including Texas, Arizona, Hawaii, Utah, New Mexico, California, Florida, and South Carolina.

Likewise, man-made swimming lagoons are revolutionizing how people experience water recreation, offering a fresh and relaxing alternative to traditional pools and beaches. These expansive, carefully designed aquatic destinations are making waves in the residential, resort, and attractions industries, transforming both leisure and real estate landscapes.

Since 2020, H&LA has completed 16 studies for lagoon developments, from large-scale luxury resorts to public access lagoons at residential communities. One such property that is now operational is the Lago Mar Lagoon in Texas City, Texas, which boasts a 12-acre Crystal Lagoon designed to provide a unique staycation experience. The lagoon offers white-sand beaches and blue waters, creating a beach-like atmosphere without the need to travel to the coast. Visitors can engage in various water activities, including paddleboarding and kayaking, with equipment available for rent. The lagoon also features a beach boardwalk with dining options, enhancing the overall leisure experience.

The growing appeal of lagoons lies in their ability to deliver a stunning waterfront experience without the need for a nearby lake or ocean. This trend is unlocking exciting new opportunities for developers, allowing them to capitalize on the demand for immersive water experiences. As interest continues to rise, man-made lagoons are poised to redefine the future of water-based leisure and real estate.

OUTLOOK

Growth in the waterpark industry shows no signs of slowing down. Waterparks are one of the most family-friendly and versatile development opportunities available in the leisure industry due to their popularity across multiple demographics and their ability to provide year-round vacation opportunities. With the addition of surf parks and man-made swimming lagoons, the water attractions industry is poised for continued growth in 2025. This growth in the industry is driven by a combination of technological advancements, sustainability initiatives, and evolving consumer preferences. Many waterparks have embraced innovative attractions such as AI-powered virtual reality water slides, smart wristband systems for seamless park navigation, and eco-friendly filtration technologies to reduce water waste. Demand for immersive, themed experiences has also surged, with parks integrating storytelling elements and interactive features to enhance guest engagement. H&LA sees these trends becoming more prevalent throughout the industry as waterparks look to differentiate themselves from the competition and provide unique experiences for families. The waterpark industry is poised for steady growth, particularly in regions with expanding tourism infrastructure.