The companies both presented their proposals to the council
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North Somerset Council has narrowed proposals for the redevelopment of Weston-super-Mare's seafront Tropicana development down to two.
Following presentations by three companies on Wednesday, a working group decided that two schemes should go forward for public consultation.
Other options for consideration include demolition and refurbishment of the existing facility as a seasonal pool.
The proposals are for a health club and pool or an entertainment centre.
Councillor Mike Roe said: "This is a very prominent site within the sea front around which there is a great deal of local interest.
"I would invite as many residents as possible to come to the two exhibitions next week and make their views known."
The two developers are Express Park Development Company Ltd, of London, and Henry Boot Developments with Life Property Ltd.
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