Long-time local property of Adventureland in Altoona, Iowa, has sold the resort. However, that might not be bad news if the other information revealed today is any indication.
Adventureland, located just off I-80 in central Iowa, has been in operation since 1974, when Jack Krantz founded the company. According to the Adventureland website, Krantz passed away 15 years ago and since then his daughter and sons have continued the family business. Today’s announcement of the sale of Adventureland to one of the world’s leading amusement park operators put an end to this transaction.
Palace Entertainment, a subsidiary of Parques Reunidos, announced on Tuesday the acquisition of Adventureland Resort. In a press release, Palace Entertainment CEO John Reilly said:
We are delighted to add Adventureland to our portfolio. We specialize in parks and places that create lifelong experiences, from childhood to adulthood, parenthood and grandparents. We are investing in Adventureland to expand its current lineup to include eight new family rides in 2022, as well as two brand new attractions for the 2023 season.
Yes, 10 new rides / attractions at Adventureland over the next two years.
From 2022, Adventureland Platinum Season membership holders will be able to visit all other Palace Entertainment parks for free. This includes Noah’s Ark Water Park in Wisconsin Dells, which bills itself as America’s largest water park.
Making the announcement today, Pascal Ferracci, CEO of Parques Reunidos, the parent company of Palace Entertainment, said:
We look forward to our Palace Entertainment team combining operational excellence with Adventureland’s family entertainment heritage. Parques Reunidos has a unique history of acquiring and successfully integrating parks, with more than 20 transactions carried out in 11 countries since 2004. This will continue to be a growth lever for the group, maintaining local brands and historical positioning. fleets acquired while benefiting from advanced tools and capacities to further develop the business.
Current Adventureland CEO Michael Krantz says it’s time to pass the torch:
For almost fifty years, our family has worked hard to provide good times for people of all ages who come to the park to create lasting memories. Palace wishes to carry on these traditions so that future generations can do the same. It would make our father incredibly happy.
Did the Krantz family decide to sell because they realized that by 2022, it would no longer be the only theme park in Iowa? We’ll probably never know if the impending opening of the Lost Island Theme Park in Waterloo has anything to do with it, but one thing’s for sure … we have to thank the Krantz family for giving people across the Midwest a place to stay. wonderful to visit. for almost 50 years. Hopefully this tradition will continue under the new owner for decades to come.