Schlitterbahn, the water-based entertainment destination developer, has announced plans for a new experiential entertainment resort in Cedar Park, Texas.

The $360m Schlitterbahn Boutique Hotel and Conference Center will include lodging, retail, restaurants, a conference centre and a year-round Transportainment-based waterpark featuring interconnected river technology along with a variety of innovative water attractions.

Jeff Henry, principal for the Schlitterbahn Development Group, said: "Our team has been working on the creation and design of this world-class destination for more than two years and we are excited to be announcing this project today. Without the support of the local government, the realisation of this dream could not have become a reality."

The first phase of the project is scheduled to open the summer of 2012.