Hershey Bears

What Hershey Bears does

The Hershey Bears are a professional ice hockey team in the American Hockey League (AHL), founded in 1932 and operating as the minor league affiliate of the NHL's Washington Capitals since the 2005-06 season. The team is owned and operated by Hershey Entertainment & Resorts Company, plays home games at GIANT Center in Hershey, Pennsylvania (10,000+ seats, in use since 2002), and is the winningest franchise in AHL history with a record 13 Calder Cup championships, most recently winning back-to-back titles in 2023 and 2024.

The core product is professional hockey entertainment across 36+ home games per season, distributed to fans through single-game tickets, full-season memberships (36 games), half-season plans, flexible mini-plans, and group sales (15+). The product portfolio extends to premium seating (club seats with Stella Premium Lounge access, luxury suites rented at $2,400–$4,000 per game), in-house and online merchandise, food and beverage concessions and catering (up to 100 guests), and ancillary fan products including the Coco's Kids Club ($26.99/year), Toyota Junior Starter Contest, and special videoboard greetings. Supporting technology is conventional: an official iOS/Android mobile app, game streaming via AHLTV on FloHockey, ticketing through Ticketmaster, and the multi-station Bears Radio Network.

The business model combines B2C ticketing and ancillary revenue with B2B corporate sponsorship, monetized through scoreboard and LED advertising, dasher boards, concourse signage, and in-game activations. The sponsorship stack is anchored by Official Partners (Giant Foods, Highmark, Penn State Health, Pepsi, Toyota, Hersheypark) and a set of supporting partners. Customer segments span families, groups, corporate clients, youth hockey players, and community organizations, with the Hershey Bears Cares initiative serving as the community engagement platform. The franchise does not publicly disclose revenue and operates as a privately held subsidiary of Hershey Entertainment & Resorts Company.

Name

Hershey Bears

Legal name

Hershey Entertainment & Resorts Company

Website

https://hersheybears.com

Company type

Private

Founded year

1932

Operating status

Operating

Headcount range

11–50 employees

Short description

The Hershey Bears are a professional AHL ice hockey team and the minor league affiliate of the NHL's Washington Capitals, playing home games at GIANT Center in Hershey, Pennsylvania, and serving Central PA fans since 1932.

Ownership category

akta.pro rank

Product category

Professional Minor League Hockey (AHL)

NAICS

Fitness and Recreational Sports Centers (713940)

SIC

Services-Membership Sports & Recreation Clubs (7997)

akta.pro primary industry

Ice Hockey Leagues (MPAKAAAE)

akta.pro secondary industry

Local Amateur Clubs & Community Sports Organizations (MPAKACAE)

Keywords

• Professional ice hockey
• Minor league hockey
• Season ticket memberships
• Sports entertainment venue
• Corporate sports sponsorships

Headquarters

HQ city

Hershey

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others, Infrastructure

Revenue model

1. Ticket Sales: Revenue from single game tickets, season ticket memberships, mini-plans, group tickets, and premium seating (club seats and suites). Season tickets range from $22.53-$49.53 per game; suite rentals $2,400-$4,000 per game.
2. Corporate Sponsorships: Official partners (Giant, Highmark, Penn State Health, Pepsi, Toyota, Hersheypark) and supporting partners (Ace Distributing, Chick-Fil-A, PSECU, PNC, Planet Fitness, Wilsbach Distributors) provide advertising, branding, and promotional revenue through scoreboard ads, LED displays, dasher boards, concourse signage, and activation opportunities.
3. Merchandise Sales: Official Hershey Sports store at GIANT Center and online store selling jerseys, apparel, souvenirs, and gift cards. Includes Calder Cup Champions merchandise.
4. Food & Beverage Concessions: Concessions stands at GIANT Center offering food and beverages during games. Catering services for groups up to 100 guests in private banquet rooms.
5. Premium Seating: Club seats include access to Stella Premium Lounge with premium dining; luxury suites with 22 tickets, private entrance, wet bar, and catering.

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels8 records

Core offering

The Hershey Bears field a professional American Hockey League (AHL) team that competes as the minor league affiliate of the NHL's Washington Capitals, playing 36+ home games per season at GIANT Center in Hershey, Pennsylvania. The organization sells single-game tickets, season ticket memberships, group tickets, mini-plans, premium seating (club seats and luxury suites), official merchandise, concessions, and group catering, while also operating community engagement and youth hockey development programs.

Product overview

The Hershey Bears are a professional American Hockey League (AHL) team serving as the minor league affiliate of the NHL's Washington Capitals. The organization's core product is professional hockey entertainment at GIANT Center. The product portfolio includes single-game and season ticket options (Season Ticket Memberships, Mini Plans, Group Tickets), premium seating experiences (Club Seats, Luxury Suites), and the Hershey Bears Merchandise Store. Supporting products include the Hershey Bears Mobile App for streaming and updates, Coco's Kids Club for young fans, Fan Experiences such as Penalty Box Warm-Ups and Fan Tunnel Door experiences, community programs (Roaring to Read, Teddy Bear Toss, Wellness All-Stars), and Corporate Sponsorship packages. The team also operates a catering service for group events at the venue.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• 71 players have graduated from Hershey to NHL with Capitals since 2005-06
• +2 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature2 records

Partnerships

Twelve partnerships are on record, tiered core, major and supporting.

• South Carolina StingrayscoreStrategic or Co-development Partner · 1 January 2014South Carolina Stingrays serve as the ECHL affiliate of both the Washington Capitals and Hershey Bears. The partnership began in 2014-present (previously 2004-2012). The Stingrays have won three Kelly Cup championships (1997, 2001, 2009) and provide development opportunities for players.
• Washington CapitalscoreStrategic or Co-development Partner · 1 January 2005Washington Capitals serve as the NHL affiliate of the Hershey Bears. This partnership began in 2005-06 and has produced 71 players who graduated from Hershey to the NHL. The Bears have won five Calder Cups during this partnership (2006, 2009, 2010, 2023, 2024). Capitals staff include former Hershey personnel such as head coach Spencer Carbery (former Hershey head coach, 2018-21) and broadcaster John Walton.
• Giant FoodsmajorGTM or Marketing PartnerGiant Foods is an Official Partner of the Hershey Bears. Giant provides food/beverage sponsorship and branding opportunities at GIANT Center.
• ToyotamajorGTM or Marketing PartnerToyota is an Official Partner and sponsor of the Toyota Junior Starter Contest, which gives regional youth hockey players the opportunity to join the Bears on ice for the national anthem.
• PepsimajorGTM or Marketing PartnerPepsi is an Official Partner providing beverage sponsorship and branding opportunities at GIANT Center events.
• Penn State HealthmajorGTM or Marketing PartnerPenn State Health Milton S. Hershey Medical Center is an Official Partner. Players visit patients and families at the Milton S. Hershey Penn State Health Children's Hospital and Cancer Institute through the Hershey Bears Cares initiative.
• HighmarksupportingGTM or Marketing PartnerHighmark is an Official Partner providing health insurance services and branding opportunities at GIANT Center.
• HersheyparkmajorGTM or Marketing PartnerHersheypark is an Official Partner of the Hershey Bears, part of the Hershey Entertainment & Resorts Company umbrella. The partnership includes Hersheypark Pass Nights where fans receive free amusement park tickets.
• FloHockeycoreTechnology or IntegrationFloHockey provides AHLTV streaming coverage for all Hershey Bears home and away games through a partnership with the AHL. The official Bears app integrates with FloHockey for streaming.
• TicketmastercoreChannel Partner/ Reseller/ DistributorTicketmaster is the official ticket marketplace for Hershey Bears tickets, handling single game tickets, season tickets, and parking.
• Milton Hershey SchoolsupportingGTM or Marketing PartnerHershey Bears players and staff engage with students at Milton Hershey School through the Hershey Bears Cares initiative.
• Catherine Hershey Schools for Early LearningsupportingGTM or Marketing PartnerHershey Bears participate in community engagement activities with Catherine Hershey Schools for Early Learning through the Hershey Bears Cares program.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Hartford Wolf Pack: AHL team affiliated with the New York Rangers. Operates a similar mid-tier NHL-developmental model, competes in the AHL Atlantic Division, and shares season-ticket, group-sales, and corporate-suite revenue playbooks with Hershey.
• Charlotte Checkers: AHL team affiliated with the Florida Panthers. Comparable mid-sized NHL affiliate franchise playing in a multi-purpose arena with similar ticket, suite, and sponsorship revenue mix.
• Wilkes-Barre/Scranton Penguins: Direct AHL Atlantic Division rival and fellow Pennsylvania-based franchise affiliated with the Pittsburgh Penguins. Competes with Hershey for Central/Eastern Pennsylvania hockey fans and corporate sponsorships.
• Cleveland Monsters: AHL Central Division team affiliated with the Columbus Blue Jackets. Recently hired former Hershey assistant Nick Bootland as head coach, intensifying the on-ice and operational comparison with Hershey.
• Texas Stars: AHL team affiliated with the Dallas Stars. Comparable Texas-based AHL franchise but operates in a different regional market without the same tourism/leisure parent as Hershey.
• Lehigh Valley Phantoms: AHL Atlantic Division competitor affiliated with the Philadelphia Flyers and based in Allentown, PA. Overlaps Hershey on Pennsylvania regional fan base, ticket pricing, and group/corporate sales.
• Springfield Thunderbirds: AHL team affiliated with the St. Louis Blues. Operates analogous season-ticket membership, premium seating, and AHLTV streaming monetization streams.
• Syracuse Crunch: AHL team affiliated with the Tampa Bay Lightning. Comparable Calder-Cup-contending franchise, sharing similar mid-size-market dynamics and venue-based revenue model.
• Rockford IceHogs: AHL team previously coached by current Hershey head coach Derek King, affiliated with the Chicago Blackhawks. Direct on-ice competitor and overlapping hockey-operations talent network with Hershey.
• Rochester Americans: One of the oldest AHL franchises, affiliated with the Buffalo Sabres. Competes with Hershey for Calder Cup contention and historic-franchise brand positioning within the AHL's developmental ecosystem.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/TheHersheyBears
• YouTubeyoutube.com/user/TheHersheyBears
• Facebookfacebook.com/TheHersheyBears
• LinkedInlinkedin.com/company/hershey-bears
• Instagraminstagram.com/thehersheybears

Revenue estimate

Valuation estimate

Number of profiles

Profiles20 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hershey Bears