The local property of Adventureland has long since sold out in Altoona, Iowa the resort. However, this may not be bad news if other information revealed today is any indication.
Located off I-80 in central Iowa, Adventureland has been open since 1974 when Jack Krantz founded the company. According to Adventureland, 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 largest theme park operators ended that.
Palace Entertainment, a subsidiary of Parcs Reunidos, announced the purchase of the Adventureland Resort on Tuesday. In a media statement, Palace Entertainment CEO John Reilly said,
We are excited to add Adventureland to our portfolio. We specialize in gardens and venues that create experiences to be enjoyed for a lifetime, from childhood to adulthood to parenting and grandparents. We are investing in Adventureland to expand its existing portfolio to include eight new family rides in 2022, as well as two all-new attractions for the 2023 season.
Yes, 10 new Adventureland rides/attractions in the next two years.
Beginning in 2022, Adventureland Platinum Season Pass holders will be able to visit any other theme parks in the mansion for free. This includes Noah’s Ark Water Park in Wisconsin Dells, which bills itself as the largest water park in America.
In today’s announcement, Pascal Ferracci, CEO of Parques Reunidos parent company Palace Entertainment, said,
We look forward to the Palace Entertainment team combining operational excellence with the adventureland family-run entertainment legacy. Parks Reunidos has a proven track record of successful park acquisitions and mergers, having completed more than 20 transactions across 11 countries since 2004. This will continue to be a growth driver for the group, while preserving the local brands and historic location of the parks acquired while leveraging state-of-the-art tools and capabilities. Among the art to further develop the business.
Now is the time to pass the torch, says Michael Krantz, current CEO of Adventureland:
For nearly fifty years, our family has worked hard to provide good times for people of all ages who come to the park to create memories that will last a lifetime. The palace wants to carry forward these traditions so that future generations can do the same. This would make our father incredibly happy.
Did the Krantz family decide to sell because they realized that as of 2022 they wouldn’t be the only theme park in Iowa? We’ll likely never know if the imminent opening of the Lost Island theme park in Waterloo has anything to do with it but one thing is for sure…we must thank the Krantz family for giving people from all over the Midwest an amazing place to visit for nearly 50 years. We hope that this tradition will continue under the new ownership for decades to come.
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