Wavegarden and The Wave have signed a new strategic alliance agreement to deliver 6 or more projects across the UK and Ireland. The Wave opened its first surf park in Bristol in 2019 and is already working on a second site in London. They are exploring further potential development sites for inland surfing destinations powered by Wavegarden Cove technology. As well as the UK and Ireland, The Wave is also working with Wavegarden to secure additional sites in major European cities.
The Wave Bristol was the first inland surfing lagoon using the innovative Wavegarden Cove technology to open in the world. Despite the pandemic, further Wavegarden sites opened in 2020 and 2021 including in Melbourne, Switzerland, South Korea and Brazil. Currently, there are 5 more in construction and over 60 others in development around the world.
This contract is the third of its kind in recent times, sending out a clear message to this new developing sector – the financial viability of Wavegarden´s technology and business model is proven. In July 2021, the Brazilian KSM Realty real estate developer secured a 10-year agreement to develop more facilities across the nation, following the immediate economic success of Praia da Grama, the first tropical beach with artificial waves in the world, just outside of São Paulo. Japanese promoter JPF followed suit in December by signing a contract to develop 7 surf parks in Japan in the next 7 years.
Fernando Odriozola, Chief Commercial Officer at Wavegarden, explained: “We are proud to see our business model being validated all over the world and to see those early investors who believed in our technology create successful businesses to capitalize on their investments. It motivates us to continue working on our vision to bring the sport of surfing to everyone around the world.”
Craig Stoddart, The Wave CEO, said: “This multi-project agreement further cements our brilliant partnership with Wavegarden. Being the first to open a surf park powered by a new technology was, in so many ways, a leap of faith – but we believed in the technology and the team delivering it. The waves work. More than that, we have proved it is commercially successful, we have a great professional team and we have now welcomed over 300,000 visitors through our doors since we opened – despite contending with a global pandemic.”
Wavegarden has proven international experience and, with more than 70 full-time employees, has become the largest and most advanced specialist surf park technology provider in the world. The company has an extremely high growth potential in this emerging sector, currently counting 60 projects in development and has the highest number of surfing facilities open to the public across the world.
Despite the negative effects of the pandemic, the outdoor leisure sector is one area that experienced growth in 2021. This, combined with surging interest in the health and wellbeing, and growth in experiential leisure and staycations, makes the inland surf destination model very appealing.
