Majority of Parks in 2023 Planning Construction
A majority of park respondents to the 2023 Industry Report survey said they were planning construction of some kind over the next three years. Nearly three-quarters (74.3%) of park respondents said they were planning construction, with more than a third (34.3%) planning to build new, 36.7% planning additions and 54% planning renovations to their existing facilities.
Park respondents in 2023 were planning to spend an average of $9,180,000 on their construction plans. The highest reported construction budget was $275 million, and the median construction budget was $1 million.
Construction plans were down slightly from 2022, when 82% of park respondents said they were planning to build. In 2022, some 40.4% of park respondents had plans for new construction, while 31.% were planning additions and 62.9% were planning to make renovations to their existing facilities.