Named in honour of Arctic explorer Sir William Parry, the town of Parry Sound was founded in 1887 by British land surveyor William Beatty. The Beatty family began their ventures in the timber trade, operating a sawmill on the Seguin River. They later expanded into transportation, launching a steamship service between Collingwood, Parry Sound, and what is now Thunder Bay. William Beatty also opened a general store in town and successfully lobbied local politicians to keep the township free of alcohol. Until 1950, anyone purchasing land in the town was required to sign an agreement prohibiting the sale of alcohol on their premises.

Over the years, Beatty established several mills in the area, opened a hotel on the waterfront, and played a key role in developing a railway connection to Ottawa. Today, Parry Sound has a year-round population of approximately 20,000, which swells to over 100,000 seasonal residents and welcomes more than one million visitors each summer. The town is also known for its scenic cruises and tourism-based economy.