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Palace Entertainment announces purchase of Adventureland Park

A press release from Altoona says the park "has become a regional magnet for tourism and fun for all ages."

ALTOONA, Iowa — The City of Altoona announced its biggest tourism magnet will soon be acquired by a national theme park operator. 

Adventureland Park and Resort will be purchased by Palace Entertainment, which already oversees 25 entertainment venues, hotels and educational venues across 10 states. The company is a subsidiary of Parques Reunidos

Palace intends to expand the venue with 10 new attractions over the next two years, according to a press release from the City of Altoona

A Facebook post from Adventureland says eight new attractions will open next season and two more in 2023. Those who have an Adventureland Platinum Pass will be able to use their perks at other Palace attractions across the country, including Kennywood in West Miffin, Pa. and Noah's Ark Waterpark in the Wisconsin Dells.

Adventureland has been family-owned since Jack Krantz opened the theme park in 1974. Krantz's sons and daughter have been operating the park since his passing in 2006. 

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“Thank you to the Krantz family-the legacy of Adventureland placed Altoona on the map. Jack's vision, along with his family’s, has made Adventureland a primary destination for generations,” said City Administrator Jeff Mark. 

In a press release, the City of Altoona says Adventureland is one of the Midwest's best-known theme parks and "has become a regional magnet for tourism and fun for all ages."

“Adventureland has been a staple in Altoona for many years. We are very grateful to the Krantz family and look forward to Palace Entertainment continuing these fantastic traditions here in our community,” said Mayor Dean O'Connor.

RELATED: Why you might have a harder time visiting Santa Claus this year

WATCH: 'Get ready to SLAY!' | Dragon Slayer roller coaster opens at Adventureland 

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