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business news | Staycation frenzy grips leisure industry as Park Holidays owners mull sale | Business News

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The staycations frenzy gripping Britain’s leisure market is spurring yet another of the country’s biggest holiday break park operators to take into account putting itself up for sale.

Sky Information has learnt that Park Vacations, which is owned by the financial investment business Intermediate Capital Team (ICG), has appointed bankers to oversee a strategic evaluate that marketplace resources hope to induce an auction later this yr.

The enterprise is the major operator of its style in the south of England, with 33 web sites under its ownership, such as at Dawlish in Devon, Felixstowe in Suffolk and Birchington in Kent.

It provides caravan and lodge vacations, touring and camping, and getaway household ownership.

HSBC and Royal Bank of Canada have been appointed to deal with the review.

Insiders said on Friday that if it does get bought, Park Holiday seasons would command a price tag “very well in extra” of the £362m that ICG paid out to buy the business from Caledonia Investments in 2017.

Confusion about the government’s vacation information to countries on its ‘amber list’ of international locations is probably to spur a glut of domestic vacations by Britons this calendar year.

Earlier this thirty day period, Sky Information exposed that CVC Capital Partners, the non-public fairness giant, was in talks about a takeover of Away Resorts – the owner of perfectly-identified holiday getaway parks this kind of as Whitecliff Bay on the Isle of Wight and Sandy Balls in the New Forest.

Bourne Leisure, the proprietor of Butlin’s and Haven, was marketed in February to Blackstone, a different major buyout agency.

Graphic:
CVC is in talks about a takeover of Away Resorts Pic: AR

A range of other players in the marketplace, together with Verdant Leisure, are up for sale as operators seek to exploit booming desire.

A spokeswoman for ICG declined to comment on Friday.



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