Kim Schaefer Named as Company’s Chief Executive Officer Effective January 1, 2009
Great Wolf Resorts, Inc. (NASDAQ:WOLF) , North America’s leading family of indoor waterpark resorts, announced that Kim Schaefer, currently the company’s president and chief operating officer, will become chief executive officer, effective January 1, 2009. Randy Churchey, who has served as the company’s interim chief executive officer since May 2008, will resign from that position on January 1, 2009 and remain as a director on the company’s board.
"Kim has been instrumental in the development and evolution of Great Wolf Lodge as a premier, national, family-oriented brand, and I am pleased to announce that she will continue to guide that growth as CEO, " said Chairman of the Board Joe Vittoria. "Kim’s vision for providing a great guest experience, involvement in the development process for our new resorts, passion in truly living our brand every day, and demonstrated ability to lead make her the ideal choice for this new role. We thank Randy for his contributions and leadership over the past few months in his role as interim chairman, and look forward to a smooth transition." Vittoria added that Churchey’s day-to-day experiences working with management team members will continue to provide value to the company’s board.
In her new role, Schaefer’s responsibilities will include providing strategic direction to the company’s development team, including licensing arrangements and joint ventures as an effective use of equity capital as the company seeks to expand the geographic reach of its brand, both domestically and internationally. Most recently, she oversaw the expansion of the breadth of amenities and the addition of conference centers at several of the company’s resorts, which resulted in significant occupancy gains this year.
Schaefer has served in various leadership positions for the company since its inception, first serving as senior vice president of operations at its predecessor in 1996. She has more than 20 years of accounting and hotel operating experience, and holds a B.S. in accounting from Edgewood College in Madison, where she sits on the advisory board for the school of business.
About Great Wolf Resorts, Inc.
Great Wolf Resorts, Inc.(R) (NASDAQ:WOLF) , Madison, Wis., is North America’s largest family of indoor waterpark resorts, and, through its subsidiaries and affiliates, owns and operates its family resorts under the Great Wolf Lodge(R) and Blue Harbor Resort(TM) brands. Great Wolf Resorts is a fully integrated resort company and owns and/or manages Great Wolf Lodge locations in: Wisconsin Dells, Wis.; Sandusky, Ohio; Traverse City, Mich.; Kansas City, Kan.; Williamsburg, Va.; the Pocono Mountains, Pa.; Niagara Falls, Ontario; Mason, Ohio; Grapevine, Texas; Grand Mound, Wash., and Blue Harbor Resort & Conference Center in Sheboygan, Wis. A Great Wolf Lodge currently is under construction in Concord, N.C. and a 203-suite expansion is under construction at the company’s Grapevine resort.
The company’s resorts are family-oriented destination facilities that generally feature 300 to 400 rooms and a large indoor entertainment area measuring 40, 000 to 100, 000 square feet. The all-suite properties offer a variety of room styles, arcade/game rooms, fitness centers, themed restaurants, spas, supervised children’s activities and other amenities. Additional information may be found on the company’s Web site at greatwolf.com.
Source: Great Wolf Resorts
CONTACT: Investors, Alex Lombardo, +1-703-573-9317, or Media, Steve
Shattuck, +1-608-661-4731, both of Great Wolf Resorts
Web site: www.greatwolf.com
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