Herschend Entertainment Expands Themed Attractions Portfolio in Southern California

In a strategic move to strengthen its position in the amusement park landscape, Herschend Entertainment, the operator behind Dollywood and Silver Dollar City, has acquired several key attractions in Southern California. This acquisition includes Raging Waters, Castle Park, and Boomers, marking Herschend’s first venture into this region.

Merger Details and Impact

The deal, which involves the purchase of Palace Entertainment’s U.S. properties from Parques Reunidos, is expected to create one of the largest family-owned themed attractions companies worldwide, according to reports from the Orange County Register.

With this merger, the newly formed entity combining Herschend and Palace is projected to attract around 20 million visitors annually. This places it in a competitive position against industry giants such as Six Flags and Cedar Fair, which collectively draw nearly 49 million visitors per year.

Expansion of Historic Parks

This acquisition also brings three historic amusement parks into Herschend’s portfolio: Kennywood and Idlewild, both located in the Pittsburgh area, and Lake Compounce in Connecticut, recognized as the oldest amusement park in America. These additions further diversify Herschend’s offerings and enrich its historical attractions.

Market Implications

According to Dennis Speigel, CEO of International Theme Park Services, this merger may compel other operators in the industry to reassess their strategies, potentially leading to further consolidations, partnerships, or even liquidations within the amusement park sector.

Herschend will now vie with United Parks & Resorts, the parent company of SeaWorld and Busch Gardens, for the fourth place in the U.S. theme park market. Current rankings, based on a TEA/AECOM report, show Disneyland leading with 142 million visitors annually, followed by Universal Studios Hollywood and Six Flags.

Continued Ownership of European Parks

Parques Reunidos will retain ownership of its European attractions, which include notable parks like Mirabilandia in Italy and Movie Park Germany, ensuring that its operations in Europe remain unaffected by the recent acquisition.

Conclusion

This major acquisition by Herschend marks a notable shift in the amusement park industry, poised to reshape the competitive landscape with more expansive options for family entertainment.