In 2023, waterpark owners and operators saw a more competitive market as attendance levels remained similar to 2022 while ticket pricing growth was more subdued. This occurred due to increased competition from a variety of additional attractions and entertainment venues in the post-pandemic economy. In 2023, 16 indoor waterpark openings and expansions added 480,000 square feet of indoor waterpark space while twelve new outdoor waterparks opened. New growth is forecasted for indoor and outdoor waterparks in 2024 as several large-scale projects will open that will alter the waterpark landscape. These projects will continue to encourage existing properties to innovate and update to keep market share. The planned merger of Cedar Fair and Six Flags will create the largest owner-operator of outdoor waterparks in North America.
In 2022, waterpark owners and operators breathed a sigh of relief as the industry shifted back to normal in the wake of two years of uncertainty. With the pandemic a rearview concern in 2022, most waterparks continued their recovery to see attendance improve. This robust performance paved the way for new growth in all segments of the industry. Several large-scale projects planned for 2023 and beyond will alter the waterpark landscape at both indoor and outdoor waterparks. These projects will continue to encourage existing properties to innovate and update to keep market share.