Great Wolf Resorts Reports Second Quarter 2007 Results

Investors – Alex Lombardo
Media – Jennifer Beranek
both for Great Wolf Resorts, Inc.

MADISON, Wis., Aug. 7 /PRNewswire-FirstCall/ — Great Wolf Resorts, Inc. (NASDAQ:WOLF) , North America’s leading family of indoor waterpark resorts, today reported results for the quarter ended June 30, 2007.

Second Quarter 2007 Highlights
— Reported Adjusted EBITDA of $11.5 million and Adjusted net loss per
share of $(0.01), exceeding consensus analyst expectations for both
— Increased Great Wolf Lodge(R) brand same store Total RevPAR by 4.8
percent, compared to the 2006 second quarter.
— Acquired 15.9 percent minority interest in the Great Wolf Lodge in
Mason, Ohio, giving the company 100 percent ownership of that resort.
— Announced plans for construction of next Great Wolf Lodge resort to be
built in the Charlotte, North Carolina market.
— Completed expansion of Great Wolf Lodge -Williamsburg, Virginia resort
with opening of 10,000 additional square feet of meeting space and an
outdoor miniature golf course.
— Began construction on an expansion project at Great Wolf Lodge –
Traverse City, Michigan, which includes a 9,000 square-foot conference
center, MagiQuest(TM) – a live-action adventure game, and an outdoor
miniature golf course.
— Launched Scooops(TM) Kid Spa, an innovative and family-friendly service
for young girls ages 8-12.
— Issued $28.1 million of Trust Preferred Securities, the net proceeds of
which will be used for development of future resorts.

Great Wolf Resorts reported a 2007 second quarter net loss of $(1.7) million, or $(0.05) per diluted share, compared to a net loss of $(1.4) million, or $(0.05) per diluted share in the same period a year earlier.