Herschend is to acquire all of Palace Entertainment’s US entertainment properties under a definitive agreement with Parques Reunidos.
The deal marks a major milestone for both companies, as Herschend undertakes a strategic expansion in family entertainment and hospitality and Parques Reunidos strengthens its focus on its core market in Europe.
Andrew Wexler, CEO of Herschend, says: “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.”
Expanding the Herschend brand family
Herschend will acquire more than 20 of Palace Entertainment’s attractions, spanning 10 US states.
These diverse properties range from hotels to family entertainment centres. They include thrill destination Kennywood and leading family park Dutch Wonderland, both in Pennsylvania, and Lake Compounce in Connecticut, known as ‘America’s First Amusement Park.‘
The agreement cements Herschend’s position as the largest family-held themed attractions company worldwide. The organisation welcomes over 20 million guests each year at its varied portfolio of brands which includes theme parks, aquariums, resorts, and immersive attractions.
“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,” Wexler says.
“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.”
“Herschend is the ideal organization to lead Palace Entertainment’s unique properties,” says John Reilly, chief executive officer, Palace Entertainment. “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.”
Thoughtful transition
Chris Herschend, chair of the Herschend Board, says: “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.”
Herschend is dedicated to facilitating a smooth transition for its employees, visitors and communities, and plans a thoughtful integration with no immediate operational changes.
This integration will focus on supporting its new employees with training, resources, and opportunities that reflect the company’s people-first approach. It will also seek to ensure consistency in visitor experiences and consider enhancements that complement Herschend’s dedication to outstanding entertainment, with proactive communication throughout the transition.
Herschend’s Kentucky Kingdom recently revealed its new $11 million family-friendly land, Discovery Meadow, which is set to launch on 10 May. The upcoming land offers six acres of family fun with a Kentucky twist. It features three new attractions, 24 new and re-themed experiences, and unique characters – Scout the Squirrel and Robin Bloom.
Top image: The Phantom’s Revenge, Kennywood
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