Herschend Acquires Palace Entertainment Properties in the US from Parques Reunidos
The deal includes major US parks like Kennywood, Dutch Wonderland, and Lake Compounce.
Herschend, owners and operators of parks like Dollywood and Silver Dollar City, have struck a deal to acquire Palace Entertainment’s US located attractions from Parques Reunidos.
What’s Happening:
- Herschend Family Entertainment has announced that they have signed a definitive agreement to acquire all of Palace Entertainment’s US entertainment properties from Parques Reunidos.
- In the move, Herschend, the world’s biggest family-owned entertainment company, will take on over 20 new venues across 10 different states. Palace’s broad portfolio of attractions include theme parks, water parks, family entertainment centers, campgrounds, and hotels.
- Notable acquisitions include:
- Kennywood in Pittsburgh, PA
- Dutch Wonderland in Lancaster, PA
- Lake Compounce in Bristol, CT
- These new additions will add even more to Herschend’s impressive collection of entertainment offerings, which include popular parks like Silver Dollar City, Dollywood, Kentucky Kingdom, The Vancouver and Newport Aquariums, and Wild Adventures Theme Park.
- Herschend was founded 75 years ago in Branson, MO, when the Herschend family and a few dedicated employees took a small cave tour operation. Today, that cave tour is known as Silver Dollar City which boasts highly themed, high tech, world-class attractions.
- With these new acquisitions, Herschend will entertain more than 20 million guests annually.
- Herschend is dedicated to smoothly transitioning these properties into their portfolio, and will not immediately change daily operations. During the transition, Herschend aims to:
- Offer training, resources, and opportunities to current employees.
- Maintain experiences, while elevating them to the high-quality entertainment the company is known for.
- Proactively communicating with employees, guests, and local communities throughout the transition.
- The transaction needs to go through customary closing conditions, but will be completed afterwards.
- You can read the full press release here.
What They’re Saying:
- Andrew Wexler, CEO of Herschend: “This year, we’re celebrating 75 years of bringing families closer together—and looking ahead to the next 75. Today’s announcement marks a natural expansion and continuation of that vision. By growing wisely and staying true to our purpose, we are building a future where we can continue creating memories worth repeating for generations to come… We look forward to building upon the strong foundation that Palace Entertainment has created and welcoming these properties and hosts into the Herschend family of brands. The teams at these parks have done an incredible job building beloved destinations in their communities, and we look forward to learning from them, growing together, and building on their success. This is an exciting opportunity for all of us to continue creating exceptional experiences for guests and meaningful opportunities for our teams."
- John Reilly, CEO of Palace Entertainment: “Herschend is the ideal organization to lead Palace Entertainment’s unique properties. Herschend is best in class in providing a high-quality guest experience within its parks. Palace Entertainment's team members and its parks are in great hands as we make this transition."
- Chris Herschend, Herschend Board Chair: "Being a family business for 75 years has given us a deep understanding of what makes properties like these special—not just the rides and attractions, but the people who pour their hearts into them every day. These historic and beloved properties have been family traditions for generations, and we are honored to help carry that legacy forward."
Read More Parks:
Laughing Place recommends MouseFanTravel.com for all your Disney travel planning
Fill out the form below for a free, no obligation quote from MouseFanTravel.com