Latest news with #PalaceEntertainment
CBS News
12-06-2025
- Entertainment
- CBS News
Kennywood's new sister park Dollywood shares vision after acquisition
If it ain't broke, don't fix it. That's what the vice president of marketing for Dollywood said after its parent company acquired Kennywood. Dollywood is gearing up for its 40th anniversary. What began as a small roadside attraction in 1961 has grown into a world-class theme park nestled on 165 acres in the Great Smoky Mountains. Herschend, which co-owns Dollywood with Dolly Parton, recently acquired Palace Entertainment's 24 U.S. parks, including Kennywood, Sandcastle and Idlewild & SoakZone. At Kennywood, Herschend said this season will be business as usual as the new ownership focuses on employees first. Pete Owens, Dollywood's vice president of marketing, said Herschend is focused on both guests and employees, which the company calls "hosts." "I think the things that folks in Pittsburgh and around western Pennsylvania should understand is that this is a storytelling company. This is a company that is really focused on not only the guests but the hosts, so the folks that are part now of the Herschend family," Owens said. Kennywood was a family business for more than 100 years until Palace Entertainment bought it in 2007. It will return to family ownership under Herschend, which is the world's largest family-held themed attractions company. "If there are things that aren't broke, you don't fix them," Owens said. "And Kennywood is one of my favorite parks in the world. I've been to Idlewild many times, I've been to Sandcastle, I'm kind of a theme park geek, and those are great parks." While Dollywood celebrates 40 years, Kennywood is in the midst of its 127th season. Kennywood may have new owners, but Owens says the park's history isn't going anywhere. "Certainly, the history in Pittsburgh with Kennywood is something that we as Herschend Family are going to want to continue to celebrate as the new stewards of that park," Owens said.
CBS News
27-05-2025
- Business
- CBS News
Kennywood officially acquired by Dollywood's parent company
Kennywood and Dollywood are now owned by the same company. Herschend Family Entertainment Corporation finalized its acquisition of Palace Entertainment's 24 U.S. attractions, including Kennywood, Sandcastle and Idlewild & SoakZone. The company now employs 22,000 people and operates 49 properties that attract nearly 20 million guests each year. "Our purpose has carried us through both bright seasons and challenging ones—and it will continue to guide us as we move into this next chapter," Chris Herschend, a board chair and third-generation owner, said in a news release. "We're focused on doing what's right for the business, our hosts, and the communities we're honored to be part of. This process will take time, and we know we will not get everything perfect, but we are committed to listening, communicating and continuously improving." Herschend says this season will be about "listening, learning, and building relationships." Guests can expect the same from Kennywood and other parks as Herschend focuses on its employees first. Herschend says it's the largest family-held themed attractions company. Kennywood was a family business for more than 100 years until Palace Entertainment bought it in 2007. After that deal, the park got rid of rides like the Turnpike and Log Jammer to make way for attractions like the Sky Rocket and Steel Curtain. After the Herschend deal was announced in March, many Pittsburghers expressed hope for the park's future. They said they hope the new owners move the park forward while still keeping some of its historic Pittsburgh charm.
Bloomberg
12-05-2025
- Business
- Bloomberg
Dollywood Owner Launches $1 Billion Loan to Fund Theme Park Deal
Markets Herschend to acquire Palace Entertainment's US assets Lender call has been scheduled for 2 p.m. New York time By Save The owner of Dollywood Parks & Resorts on Monday launched a $1.1 billion leveraged loan to help fund its acquisition of a suite of amusement parks, campgrounds and hotels throughout the US. The deal would allow Herschend, which also owns the Harlem Globetrotters, to expand its portfolio by purchasing Palace Entertainment's US assets from Parques Reunidos while also addressing its upcoming debt maturity.
Boston Globe
26-03-2025
- Business
- Boston Globe
N.H. family destinations, Story Land and Water Country, sold to company that also owns Dollywood
In a statement Herschend issued last week, the new owner said they do not expect to make any sudden changes in the operations to the three parks. Advertisement 'No immediate changes are planned for daily operations as the company thoughtfully integrates these properties into its portfolio,' the company said in the statement announcing the purchase. Get N.H. Morning Report A weekday newsletter delivering the N.H. news you need to know right to your inbox. Enter Email Sign Up The transaction was Story Land opened in Glen, N.H., in 1954 and has been the destination of generations of families in the years since. The aquarium is also in Glen while Water Country is in Portsmouth, N.H. Water County celebrated its 40th season in 2023, the park 'This year, we're celebrating 75 years of bringing families closer together—and looking ahead to the next 75,' said Andrew Wexler, CEO of Herschend, in the statement. '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.' His words were echoed in the statement by John Reilly, Palace Entertainment chief executive officer. 'Herschend is the ideal organization to lead Palace Entertainment's unique properties,' Reilly said. '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.' Advertisement Travis Andersen of the Globe Staff contributed. . John R. Ellement can be reached at
Yahoo
24-03-2025
- Business
- Yahoo
Parent company of Silver Dollar City acquires Palace Entertainment's U.S. attractions
BRANSON, Mo. — Herschend Family Entertainment has signed an agreement with Parques Reunidos to acquire all of Palace Entertainment's U.S. properties from Parques Reunidos. According to a press release from Herschend Family Entertainment, the agreement supports Herschend's strategic expansion in family entertainment and hospitality while allowing Parques Reunidos to reinforce its strategic focus on its core European market. Palace has over 20 entertainment venues across 10 U.S. states. Some of these include Kennywood in Pennsylvania, Lake Compounce in Connecticut and Noah's Ark Waterpark in Wisconsin. 'This year, we're celebrating 75 years of bringing families closer together—and looking ahead to the next 75,' said Andrew Wexler, CEO of Herschend. '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.' Herschend Family Entertainment is the world's largest family-owned themed attractions company, with more than 14,000 hosts serving 15 million annual guests across North America. 'Herschend is the ideal organization to lead Palace Entertainment's unique properties,' said John Reilly, Palace Entertainment Chief Executive Officer. '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.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
