Indoor water parks are very popular in the Middle East due to the culture and climate, and indoor water parks can be open to the public for four seasons. It is difficult to stay outdoor at day time. And the investor could get back the investment in less time.

The appraisal of an indoor water park resort requires analysis and expertise beyond what is required for the appraisal of a typical hotel or other commercial real estate property. Unlike other types of appraisals, a water park resort appraisal requires a thorough market analysis involving a study of the economic and demographic factors as well as a review of the hotel and indoor water park resort markets. It also requires a complete financial analysis that looks at various revenue categories. When appraising an indoor water park, the appraiser must have a full understanding of water park usage issues and a firm grasp of the trends in the indoor water park market.

The Income Capitalization Approach is the most appropriate method for estimating the market value of an indoor waterpark resort or other hospitality property because this approach relies on data from the market analysis for determining an estimate of value. The Sales Comparison Approach and the Cost Approach should be utilized to provide additional points of reference with the knowledge that there are limits to their relevance for indoor water park resorts.

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