The waterpark industry was negatively affected by the COVID-19 pandemic at an unprecedented level in 2020 with an attendance drop of 62% for the entire industry. The substantial revenue loss will be a setback for the industry for years to come as owners and investors of waterpark projects work to sustain their properties amid those losses. 2022 should see a definite improvement in terms of attendance and revenues over 2020, but we do not forecast a return to pre-pandemic levels as the vaccine rollout is not expected to be available to all until the fall of 2022. However, the waterpark industry is dynamic and resilient. Though the road to recovery will not be easy, operators are refocusing their marketing and operational strategies to adjust to the new normal going forward, setting the industry up for a robust recovery.

2022 will bring the opening of a number of new standalone waterparks and resorts with waterparks. Developers and consumers continue to be interested in new waterpark developments, and we expect to see a continued pipeline of new projects in the coming years.