Herschend Family Entertainment Just Acquired 20 New Parks and Attractions Including Kennywood, Dutch Wonderland and Something Called the Boulder Dash
Herschend Family Entertainment just acquired 20 new parks and attractions including Kennywood, Dutch Wonderland and ….Boulder Dash.
I’ll admit it. For a second, I let my imagination run away with me. I saw Kennywood – which is a Pittsburgh icon with a history that runs back more than 200 years and I wasn’t picturing Yinzers on merry-go-rounds. But I was thinking of lustrous white beards, Islands in the Stream and Gamblers. Or maybe dropping in to see what condition my condition was in.
I thought we were about to see lightning strike twice. Imagine my disappointment. In retrospect, I should have heard of Kennywood. I spent a good part of my youth running around Northeastern Ohio – just a short drive from Kennywood. We even made a road trip from Akron to Pittsburgh once. But I’d never heard of the place. Nor most of the 19 others acquired this week by Herschend – formerly Herschend Family Entertainment – co-owners of Dollywood.
I can’t tell you a lot of specifics about Dollywood’s new cousins like Story Land or Lake Compounce. But I can tell you this move signals that Herschend – which has been in the tourism entertainment industry for 75 years – is thinking big.
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Who are the Herschends?
Herschend Family Entertainment got its start 75 years ago. That was when they purchased Marvel Cave, a tourism destination in Branson, MO. The cave had a fascinating history and drew a massive summer audience. Eventually, the family had an 1880s-style village constructed near the cave mouth to keep visitors entertained while they waited.
The spot became Silver Dollar City, a popular theme park in Branson. The park has several iconic rides including Fire in the Hole which is, in part, based on a gang of vigilantes turned lawbreakers who used to hide out in the cave.
With success came growth. In 1975, the second generation of Herschends purchased a small theme park in Pigeon Forge with Wild West theming from Art Modell, owner of the Cleveland Browns. In 1977, the Herschends changed the name of the former Goldrush Junction to Silver Dollar City, to match its sister park in Branson.
How did Silver Dollar City become Dollywood? Dolly Parton told the rest of the story during the annual passholder day earlier this month. Dolly and some partners wanted to build a park in Sevier County. They got so far as to pick out some land. In 1982, Dolly went on ABC with Barbara Walters and talked about her dream of owning a park called Dollywood. The president of Silver Dollar City Tennessee saw the interview and alerted his bosses, the Herschends. The decision was made. So, they reached out and a partnership deal for Dollywood was made. Short of Walt Disney dreaming up locations in California and Orlando, it’s probably the biggest decision in theme park history.
In the 40 years since Dollywood opened, it has become one of the most highly rated amusement parks in the country.
What else does Herschend own?
On the theme park side of things, Herschend owns Wild Adventures Theme Park in Valdosta, GA which I have passed many times on my way to Disney but never visited. They also own the Kentucky Kingdom in Louisville, KY, a fun little park that lives in the shadow of King’s Island. Also, each theme park has a corresponding water park, doubling the size of the Herschend portfolio. The company owns multiple resorts, a steamboat dinner theater in Branson and three aquariums.
Anything else? Why, yes. The Harlem Globetrotters.
What did the company acquire?
Kennywood, Dutch Wonderland, a whole bunch of stuff in the Northeast, and a handful of things in Southern CA. Herschend acquired so many things.
In business speak, Herschend acquired all of Palace Entertainment’s United States entertainment properties from its parent company based in Spain Parques Reunidos. I think translates to Parks Reunited but I didn’t Google it. Herschend has 20 entertainment venues across 10 states including several water parks, a couple of hotels and campgrounds and some family entertainment centers.
Among the notable acquisitions are:
- Kennywood: There is a whole rabbit hole here but to keep it short. Kennywood opened in 1898 as a trolley park attraction. The land had initially been purchased by Charles Kenny in 1818. Over the years it has grown into a thriving theme park known for its dark attractions and themed attractions. It has several roller coasters, including the Jack Rabbit which dates back to 1920 and the Steel Curtain which opened in 2019. Like Dollywood, Kennywood has a nearby water park called Sandcastle. Why Kenny Rogers didn’t leap on it after Dollywood hit it big, we’ll never know. I suppose he was too focused on the Roasters.
- Idlewild and Soak Zone: An amusement park near Ligonier, Pennsylvania, Idlewild is the third oldest operating park in the United States behind Lake Compounce – which was also included in the deal – and Cedar Point. The park is more themed for children as It only has two roller coasters and offers many more family and kiddie rides.
- Dutch Wonderland: The Kingdom for Kids, Dutch Wonderland is a 48-acre park that primarily focuses on small children. Located in Lancaster, PA, Dutch Wonderland was built by Earl Clark, a potato farmer who opened the place in 1963.
- Wet ’N Wild Emerald Pointe Water Park: Billed as the Carolinas’ favorite water park, Wet ’N Wild is located in Greensboro, NC.
- Lake Compounce: Located near Bristol, CT, Lake Compounce is the oldest continuously operating amusement park in the country, dating back to 1846. Its newest wooden coaster – the Boulder Dash – has won the Golden Ticket award for Best Wooden Coaster for five straight years.
- SeaLife: Oʻahu, Hawaii’s premier educational and interactive marine attraction. Yes, I said Hawaii.
Do any of these parks compete with Dollywood?
I don’t think so. Of course, I just found out about Kennywood today. So I don’t want to cast aspersions. But the park is 80 acres – half the size of Dollywood- and June tickets are $42.99 each which sounds like great value but is also less than a wristband at Ober Mountain, you know what I’m saying? Season passes at Dutch Wonderland are $7 more than a single-day ticket to Dollywood.
What does this mean for Dollywood?
I’m not sure which park Herschend considers its crown jewel. Dollywood certainly has the name factor, but since the family founded Silver Dollar City, it might be a push. But I don’t see any of these new parks making a play for the crown. It’s hard to say for sure, of course especially since the terms of the deal were not announced. I do think we can safely say that it means business at Dollywood – and in Branson – must be booming. This acquisition gives Herschend a portfolio that covers most of the Eastern United States.
“With this acquisition, Herschend will strengthen its position as the world’s largest family-held themed entertainment company, with a broad portfolio of brands spanning theme parks, aquariums, resorts, and immersive attractions that collectively entertain more than 20 million annual guests,” the press release states.
We don’t know the terms of the deal. Also, we don’t know the financial status of each of the parks. But from out research, many of the properties have changed hands multiple times in recent decades. So one assumes, that would not happen if they were massive profit makers.
Will the Herschend touch make a difference? Certainly, Herschend has a proven leadership structure in place, and it has reinvested heavily into Dollywood and Silver Dollar City.
Can the Herschends afford to invest in so many properties? We’ll see. I wouldn’t be shocked if the California and Hawaii properties were sold to allow Herschend to focus on operations in the eastern United States. But who knows, being able to write off corporate trips to Southern California and Hawaii, is a pretty good benefit.
“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.”
What’s the biggest takeaway?
First, there are a heckuva lot of amusement and waterparks in the United States. It’s crazy.
Secondly, it’s the sliding doors effect, the roll of the dice. At one time, I believe most of the just-acquired parks were as big or bigger than Silver Dollar City Tennessee when Dolly came on board. In the 40 years since these parks have entertained millions of guests and kept a significant regional footprint. However, Dollywood has grown to a completely other level.
The other day – during passholder and media day at Dollywood – I looked at license plates and call signs on vehicles in the parking lot. Dollywood has become a national, maybe even international, phenomenon. So it will be interesting if Herschend can find the right touch or partner to do the same with any of its new acquisitions.
In other words, you left us too soon, Kenny Rogers. We could have achieved greatness.
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