Madrid, March 19, 2025 – Parques Reunidos, a leading global operator of regional leisure parks, is pleased to announce that it has signed a definitive agreement to sell its U.S. business, Palace Entertainment, to Herschend, a respected, family-owned U.S. leader in the family entertainment and hospitality industry. This strategic move marks a pivotal milestone in Parques Reunidos’ long-term vision to consolidate its leadership in the European leisure market and drive sustained growth through its high-quality portfolio of iconic parks across the region. 

Since 2019, Parques Reunidos has been on a transformation journey, shifting from a collection of individual parks into an integrated, guest-focused entertainment platform. Over the years, the company has significantly improved its commercial and operational capabilities, making key investments in facilities, guest experiences, digital solutions, process enhancements, and talents. Palace Entertainment has strongly benefited from this global transformation, evolving into a high-performing independent business, and establishing itself as one of the most successful regional entertainment operators in the U.S. 

“The decision to divest Palace Entertainment reflects our commitment to strengthening our leadership in on our core European market,” said Parques Reunidos Chief Executive Officer Pascal Ferracci. “By concentrating our resources, leadership, and strategic vision in Europe, we will be better positioned to accelerate our growth strategy, strengthen our operations, and continue enhancing the guest experience across our portfolio.”

This transition comes at the right time to unlock new opportunities for both entities, allowing each to achieve its full potential. 

With Herschend as its new owner, Palace Entertainment will be well-positioned to pursue its own growth trajectory while maintaining the exceptional guest experiences that have defined its legacy.

With the sale of its U.S. portfolio, Parques Reunidos will accelerate growth across its European properties, further reinforcing its position as a leading operator in the region. The company will focus on commercial and operational excellence, digital transformation, and sustainable growth while continuing to invest in its parks to deliver memorable experiences for its guests. 

As part of this strategic vision, Parques Reunidos will continue to expand and enhance its offering by leveraging its portfolio of high-quality and regionally recognized parks, using its cutting-edge digital capabilities to drive guest engagement, and optimize seamless operations to ensure efficiency and scalability. 

“Our future is in Europe, where we see tremendous potential for expansion. We offer a unique value proposition with a diversified and balanced portfolio of high-quality regional parks across nine countries. We will benefit from a tangible and scalable pipeline of capital investment opportunities with a proven track record of success. By replicating our successful event-based strategy, we will extend our off-season attendance and further strengthen our year-round appeal. With available land for expansion in several parks, we will continue to grow our lodging offerings, unlocking cross-selling potential through a 360° experience that attracts international demand and diversifies our revenue streams. Additionally, leveraging our existing infrastructure, we will expand our park capacity by developing second gates. By focusing on operational excellence, and guest-centric experiences, and thanks to our highly skilled teams who bring our strategic vision to life, we are well-positioned to unlock those new opportunities and reinforce our leadership in the European leisure industry.” added Pascal Ferracci.

The transaction is subject to customary conditions and regulatory approvals.

About Parques Reunidos

Parques Reunidos is one of the leading global operators of regional leisure parks, creating authentic and memorable experiences for millions of guests worldwide every year. 

With almost 60 years of experience, the group’s diverse portfolio includes theme and amusement parks, zoos, aquariums, water parks and indoor entertainment centers.

Parques Reunidos focusses on delivering exceptional guest experiences, fostering innovation, and supporting the communities in which we operate, through our highly experienced team, portfolio of storied parks, and passion for entertainment.

Learn more at www.parquesreunidos.com.

About Palace Entertainment

Palace Entertainment provides world-class fun, entertainment, and learning experiences at more than 20 properties across ten U.S. states, including amusement and theme parks, water parks, entertainment centers, campgrounds, and hotels. Palace Entertainment owns and operates several of the most iconic and historic venues in the U.S. including, National Historic Landmark, Kennywood Park, America’s First Amusement Park, Lake Compounce, the world’s first ever Cartoon Network Hotel, Best Family Theme Park Dutch Wonderland and a variety of other family-friendly parks.