Filed Pursuant to Rule 424(b)(3) and Rule 424(c)
Registration Statement No. 333-122208
Prospectus Supplement
Number 5
14,032,896 Shares
Great Wolf Resorts, Inc.
Common Stock
This prospectus supplement relates to the public offering of up to 14,032,896 shares of common
stock by some of our existing shareholders, as described in the prospectus dated April 18, 2006,
which we refer to as the prospectus. This prospectus supplement should be read in conjunction with
the prospectus. This prospectus supplement is qualified by reference to the prospectus except to
the extent that the information in this prospectus supplement updates and supersedes the
information contained in the prospectus.
You should carefully consider the risk factors described beginning on page 12 of the
accompanying prospectus.
Neither the Securities and Exchange Commission nor any state securities commission has
approved or disapproved of the securities to be issued under this prospectus supplement or
determined if this prospectus supplement is truthful or complete. Any representation to the
contrary is a criminal offense.
The date of this prospectus supplement is November 7, 2006.
Recent Developments
On November 6, 2006, we announced our results of operations for the three and nine months
ended September 30, 2006. For the quarter ended September 30, 2006, we reported (amounts in
thousands, except per share data):
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|
|
|
Net income (loss) |
|
$ |
2,088 |
|
Net income (loss) per diluted share |
|
$ |
0.07 |
|
Revenues |
|
$ |
40,779 |
|
Operating statistics for our portfolio of resorts were as follows:
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Same Store Comparison(a) |
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All Properties |
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Increase (Decrease) |
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|
Q3 2006 |
|
Q3 2006 |
|
Q3 2005 |
|
$ |
|
% |
Occupancy |
|
|
73.4 |
% |
|
|
73.7 |
% |
|
|
67.3 |
% |
|
|
N/A |
|
|
|
9.5 |
% |
ADR |
|
$ |
242.67 |
|
|
$ |
218.21 |
|
|
$ |
223.19 |
|
|
$ |
(4.98 |
) |
|
|
(2.2 |
)% |
RevPAR |
|
$ |
178.17 |
|
|
$ |
160.76 |
|
|
$ |
150.13 |
|
|
$ |
10.63 |
|
|
|
7.1 |
% |
Total RevPOR |
|
$ |
358.76 |
|
|
$ |
320.43 |
|
|
$ |
327.60 |
|
|
$ |
(7.17 |
) |
|
|
(2.2 |
)% |
Total RevPAR |
|
$ |
263.40 |
|
|
$ |
236.07 |
|
|
$ |
220.37 |
|
|
$ |
15.70 |
|
|
|
7.1 |
% |
|
|
|
| (a) |
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Same store comparison includes only
properties that were open for the entire period of Q3 2005 and Q3 2006 (that
is, the Wisconsin Dells, Sandusky, Kansas City, Traverse City, Sheboygan and
Williamsburg resorts). |