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The longtime local ownership 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 open since 1974 when Jack Krantz founded the business. According to the Adventureland website, Krantz passed away 15 years ago and since that time, his daughter and sons have continued the family business. Today's announcement of Adventureland's sale to one of the top operators of amusement parks in the world has brought that to a close.
Palace Entertainment, a subsidiary of Parques Reunidos, announced the purchase of Adventureland Resort on Tuesday. In a media release, Palace Entertainment CEO John Reilly said,
We are excited about adding Adventureland into our portfolio. We specialize in parks and venues that create experiences to be enjoyed over a lifetime, from childhood to young adulthood to parenting and grandparenting. We are investing in Adventureland to expand its current lineup to include eight new family rides in 2022, plus two all-new attractions for the 2023 season.
Yes, 10 new rides/attractions at Adventureland in the next two years.
Starting in 2022, holders of Adventureland Platinum Season passes will be able to visit any other Palace Entertainment parks for free. That includes Noah’s Ark Waterpark in the Wisconsin Dells, which bills itself as America's Largest Waterpark.
In making the announcement today, Pascal Ferracci, CEO of Palace Entertainment's parent company Parques Reunidos, said,
We look forward to our Palace Entertainment team combining their operational excellence with Adventureland’s family-run legacy of entertainment. Parques Reunidos has a unique track record of acquiring and successfully integrating parks, with over 20 transactions completed across 11 countries since 2004. This will continue to be a growth lever for the group, keeping local brands and historical positioning of acquired parks while benefiting from state-of-the-art tools and capabilities to further develop the business.
Adventureland's current CEO Michael Krantz says it's time to pass the torch:
For almost fifty years, our family has worked hard to bring good times to people of all ages who come to the park to create life-long memories. Palace wants to carry these traditions forward so future generations can do the same. That would make our father incredibly happy.
Did the Krantz family decide to sell because they realized that starting in 2022 they'd no longer be the only theme park in Iowa? We'll likely never know if the looming opening of Lost Island Theme Park in Waterloo had anything to do with it but one thing is for sure... we should thank the Krantz family for giving people from throughout the Midwest a wonderful place to visit for nearly 50 years. Hopefully that tradition will continue under the new ownership for decades to come.
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