Great Wolf Resorts Reports 2009 Second Quarter Results

Adjusted EBITDA of $17.3 million Exceeds Top End of Guidance-
MADISON, Wis.--(BUSINESS WIRE)--Aug. 4, 2009-- Great Wolf Resorts, Inc. (NASDAQ:WOLF), North America’s leading family of indoor waterpark resorts, reported results today for the second quarter ended June 30, 2009.

Second Quarter Highlights

•Reported 2009 second quarter Adjusted EBITDA of $17.3 million, a 23.3 percent increase from the second quarter of 2008.
•Same store RevPAR for Generation II resorts declined 5.2 percent on a constant dollar basis in the second quarter of 2009 as compared to the second quarter of 2008.
•Adjusted EBITDA as a percent of revenues increased 300 basis points year over year, due to tight cost controls and increased revenues from a shift in Easter and many schools’ spring break periods to the second quarter in 2009 compared to the first quarter in 2008.

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