The parent company of Dollywood and Silver Dollar has expanded its footprint into Southern California for the first time after buying Raging Waters, Castle Park, and Boomers.
Dollywood owner Herschend signed an agreement to buy Palace Entertainment’s U.S. properties from Parques Reunidos to create what’s being billed as the world’s largest family-held themed attractions company, according to the Orange County Register.
In the battle for regional amusement park dominance, the newly combined Herschend/Palace will have 20 million annual visitors compared to the Six Flags/ Cedar Fair, which draws 48.9 million visitors.
The agreement also added three historic parks—Kennywood and Idlewild (both in the Pittsburgh area) and Connecticut’s Lake Compounce (known as America’s First Amusement Park)—to Herschend’s portfolio.
Parques Reunidos will retain ownership of its theme parks in the European market, which include Mirabilandia (Italy), Movie Park Germany, and Tusenfryd (Norway).
The new merger will “may prompt other operators to reevaluate their strategies, potentially spurring liquidations and possible consolidations or partnerships within the industry,” according to International Theme Park Services CEO Dennis Speigel.
According to Theme Park Insider, Herschend will battle for fourth place in the U.S. theme park market with SeaWorld and Busch Gardens owner United Parks & Resorts, based in Florida.
Disneyland (142 million annual visitors), Universal Studios Hollywood (60.8 million) and Six Flags (48.9 million) are ahead of United (21.6 million) and Herschend (20 million) in annual attendance, according to a TEA/AECOM report, an annual study that measures theme park attendance.
Legoland California is part of the United Kingdom-based Merlin Entertainment Group, which draws 62 million visitors annually.
The parent company of Dollywood and Silver Dollar has expanded its footprint into Southern California for the first time after buying Raging Waters, Castle Park, and Boomers. Dollywood owner Herschend signed an agreement to buy Palace Entertainment’s U.S. properties from Parques Reunidos to create what’s being billed as the world’s largest family-held themed attractions company, […]
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