Encyclopedia Dubuque
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Affiliated with the Local History Network of the State Historical Society of Iowa, and the Iowa Museum Association.
GRAND HARBOR RESORT AND WATERPARK: Difference between revisions
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[[Image:GRAND23.png|left|thumb|250px|]]GRAND HARBOR RESORT AND WATERPARK. A cornerstone of the riverfront future of Dubuque, the Grand Harbor was commercially christened December 4, 2002. The complex was the first major part of Dubuque's $188 million America's River project to be completed. The original $30 million America's River concept grew to $188 million form it became | [[Image:GRAND23.png|left|thumb|250px|]]GRAND HARBOR RESORT AND WATERPARK. A cornerstone of the riverfront future of Dubuque, the Grand Harbor was commercially christened on December 4, 2002. The complex was the first major part of Dubuque's $188 million America's River project to be completed. The original $30 million America's River concept grew to $188 million form as it became part of the resort project. Private investment helped to leverage $40 million in Vision Iowa money. Grand Harbor also brought together a group of tri-state area lenders who provided nearly $17 million in loans for the project. According to Jim Rix, president and chief executive officer of Platinum Hospitality LLC, the development firm behind the construction, the Grand Harbor project at $26.5 million was the largest lending package in Dubuque history. (1) | ||
Platinum Hospitality officials announced they were "conceptually working" on a | Platinum Hospitality officials announced they were "conceptually working" on a Phase 2 of the resort with plans of expanding the existing 194-room hotel with 150 more rooms as well as waterpark addition. The employee base was expected to peak at about 190. (2) In the first year of business with the economic recession still present from the terrorist attacks in New York on September 11, 2001, occupancy totaled about 50%. Bookings topped 70% the following year. Grand Harbor business grew considerably in 2003 after the opening of the Grand River Center, the conference facility also managed by Platinum Hospitality. Under a development agreement with the city, the hotel was required to have an average occupancy rate of 85% for two consecutive years before an expansion could be made. This would include 150 additional guest rooms, a 18,000-swqure-foot addition to the waterpark, and additional proprietary parking. (3) | ||
In 2009 the first overhaul of the complex was begun. As part of the project estimated to cost $3 million, Tony Roma's, a restaurant chain, was expected to open in May. The restaurant would seat 250 people and create 120 jobs. Other renovations started with two floors and a a third to be finished by the end of the year. The entire hotel including public spaces was to be renovated over eighteen months. The opening of the [[DIAMOND JO CASINO]] helped to increase business. (4) | |||
The much anticipated grand opening hardly foreshadowed the future of the project. According to a review by the ''Telegraph Herald'', the public remained in the dark for ten years as Platinum struggled financially and the city attempted in closed meetings to encourage the company's attempts to sell the resort. In October, 2024 a local developer had an option to purchase the resort for $12.5 million. After inspecting the property, however, the developer found maintenance issues estimated to cost $43 million and withdrew its option to buy. In June, 2025 a local developer notified the city that its bank had declined to finance the project. In July, 2025 Iowa District Court Judge Monica Zrinyl Ackley granted Westdale, the holder of the original $9.5 million loan issued in 2019, to right to appoint Kinseth Hospitality of Coralville, Iowa to manage the hotel. This was followed in September by a $10 million judgment being levied against Platinum and an order the hotel twas o be sold with the proceeds going to Westdale. | |||
On December 9, 2025 Riddle's Group, a Rapid City, South Dakota company which primarily functioned as a jewelry corporation, purchased The Grand Harbor River Resort and Waterpark, for $7.5 million. A spokesperson for the group said it would offer much more stable management for the business which was located on city-owned land. The official stated that it was surprising there had previously been no franchise or "flag" (well-known name) to post on the hotel. This was to be corrected. (5) | |||
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4. Kittle, M. D., "Grand Gains for Resort, Waterpark," ''Telegraph Herald'', April 27, 2005, p. 1A | 4. Kittle, M. D., "Grand Gains for Resort, Waterpark," ''Telegraph Herald'', April 27, 2005, p. 1A | ||
5. Bethers, Daniel, "Resort Sold to Rapid City Group," ''Telegraph Herald'', December 10, 2025, p. 1A | |||
[[Category: Hotel]] | [[Category: Hotel]] | ||
[[Category: Firsts]] | [[Category: Firsts]] | ||
Latest revision as of 20:29, 10 December 2025
GRAND HARBOR RESORT AND WATERPARK. A cornerstone of the riverfront future of Dubuque, the Grand Harbor was commercially christened on December 4, 2002. The complex was the first major part of Dubuque's $188 million America's River project to be completed. The original $30 million America's River concept grew to $188 million form as it became part of the resort project. Private investment helped to leverage $40 million in Vision Iowa money. Grand Harbor also brought together a group of tri-state area lenders who provided nearly $17 million in loans for the project. According to Jim Rix, president and chief executive officer of Platinum Hospitality LLC, the development firm behind the construction, the Grand Harbor project at $26.5 million was the largest lending package in Dubuque history. (1)
Platinum Hospitality officials announced they were "conceptually working" on a Phase 2 of the resort with plans of expanding the existing 194-room hotel with 150 more rooms as well as waterpark addition. The employee base was expected to peak at about 190. (2) In the first year of business with the economic recession still present from the terrorist attacks in New York on September 11, 2001, occupancy totaled about 50%. Bookings topped 70% the following year. Grand Harbor business grew considerably in 2003 after the opening of the Grand River Center, the conference facility also managed by Platinum Hospitality. Under a development agreement with the city, the hotel was required to have an average occupancy rate of 85% for two consecutive years before an expansion could be made. This would include 150 additional guest rooms, a 18,000-swqure-foot addition to the waterpark, and additional proprietary parking. (3)
In 2009 the first overhaul of the complex was begun. As part of the project estimated to cost $3 million, Tony Roma's, a restaurant chain, was expected to open in May. The restaurant would seat 250 people and create 120 jobs. Other renovations started with two floors and a a third to be finished by the end of the year. The entire hotel including public spaces was to be renovated over eighteen months. The opening of the DIAMOND JO CASINO helped to increase business. (4)
The much anticipated grand opening hardly foreshadowed the future of the project. According to a review by the Telegraph Herald, the public remained in the dark for ten years as Platinum struggled financially and the city attempted in closed meetings to encourage the company's attempts to sell the resort. In October, 2024 a local developer had an option to purchase the resort for $12.5 million. After inspecting the property, however, the developer found maintenance issues estimated to cost $43 million and withdrew its option to buy. In June, 2025 a local developer notified the city that its bank had declined to finance the project. In July, 2025 Iowa District Court Judge Monica Zrinyl Ackley granted Westdale, the holder of the original $9.5 million loan issued in 2019, to right to appoint Kinseth Hospitality of Coralville, Iowa to manage the hotel. This was followed in September by a $10 million judgment being levied against Platinum and an order the hotel twas o be sold with the proceeds going to Westdale.
On December 9, 2025 Riddle's Group, a Rapid City, South Dakota company which primarily functioned as a jewelry corporation, purchased The Grand Harbor River Resort and Waterpark, for $7.5 million. A spokesperson for the group said it would offer much more stable management for the business which was located on city-owned land. The official stated that it was surprising there had previously been no franchise or "flag" (well-known name) to post on the hotel. This was to be corrected. (5)
---
Source:
1. Kittle, M. D., "Grand Harbor Christened," Telegraph Herald, December 5, 2002, p. 1A
2. Ibid.
3. Mozinski, Eileen, "Grand Harbor Adds Tony Roma's," Telegraph Herald, April 8, 2009, p. 1A
4. Kittle, M. D., "Grand Gains for Resort, Waterpark," Telegraph Herald, April 27, 2005, p. 1A
5. Bethers, Daniel, "Resort Sold to Rapid City Group," Telegraph Herald, December 10, 2025, p. 1A