Herschend to Acquire Palace Entertainment’s U.S. Attractions

(eap) Family-owned US operator group Herschend and Spanish operator group Parques Reunidos have signed a definitive agreement under which Herschend will acquire all US leisure facilities of Parques Reundios subsidiary Palace Entertainment. This agreement is intended to support Herschend’s strategic expansion and allow Parques Reunidos to strengthen its focus on its European core market.

“This year, we’re celebrating 75 years of bringing families closer together – and looking ahead to the next 75,” states Andrew Wexler, CEO of Herschend. “Today’s announcement [Editor’s Note: March 18, 2025] 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.”

As a result of the agreement, more than 20 Palace Entertainment leisure facilities will be transferred to Herschend’s portfolio. These include amusement and water parks, FECs, campsites and hotels. The best-known amusement parks include Kennywood, Dutch Wonderland and Lake Compounce. “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,” adds Wexler. “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 of 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.”

“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,” emphasizes Herschend’s Owner and Board Chair, Chris Herschend. “These historic and beloved properties have been family traditions for generations, and we are honored to help carry that legacy forward.”

As Herschend states, the company aims at ensuring a smooth transition for employees, guests and the local communities. No immediate changes are planned for day-to-day operations. In the coming months, Herschend will support its new employees with training, resources and opportunities. Moreover, the company aims to lead proactive communication with employees, guests and local communities. ■