Herschend, who oversees Dollywood Parks & Resorts among its business tourism umbrella, is to provide a $1.1 billion loan agreement.
Bloomberg reports that the loan will aid the development of “amusement parks, campgrounds and hotels throughout the US.”
In addition, Herschend will acquire the US assets of Palace Entertainment’s from Parques Reunidos.
Furthermore, Goldman Sachs Group Inc. is presiding over the agreement.
The deal will see the family company head up more than 20 Palace Entertainment attractions.
Currently, Herschend manages 29 theme parks and visitor attractions across North America. The entertainment company has been in the leisure industry since 1950 and its visitor attractions welcome 15 million visitors each year.
Image: Dollywood
