HospitalityIndustry

Liquid Assets: Apollo Buys Indoor Waterpark Leader

Apollo Global Management is shelling out $703 million for Great Wolf Resorts, the leading operator of indoor water park resorts. The $5-a-share offer is better than the stock has seen since 2008, but people who bought it around its 2004 IPO will end up taking a real bath.

Highland Hospitality Could File for Bankruptcy

Highland Hospitality could file for bankruptcy as economic woes squeeze the hotel industry, The Wall Street Journal reported. Highland Hospitality, which holds 27 hotels, could file as soon as next month, The Wall Street Journal reported without naming its sources. Still, discussions about the move are still at an early stage.